Apex for private capital

Management fees, calculated the way the agreement says.

A fund's fee basis changes over its life: committed capital during the investment period, invested capital after it, step-downs, offsets and performance fees on top. Apex calculates each period's fees from the terms in your agreements and gives your administrator or accountant the working to check.

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Billing schedule BS-1043Ashford Packaging, 3 yearsIn advance, quarterly

Phase 1Pilot, 2 linesJan to Jun 2027$4,800 / qtr

Phase 2All 6 linesJul 2027 to Dec 2028$13,500 / qtr

Phase 3All 6 lines, +3%2029$13,905 / qtr

Amendment · Sep 14, 2027

Two lines added, co-termed to the contract end. Prorated for 17 of 92 days this quarter: $831.52 on the next invoice.

Next invoice Oct 1 · $18,831.52 · posts to NetSuite as draft

What applies

The functions funds and their managers use.

Subscription billing

Recurring management fees, billed quarterly in advance or arrears, per fund and share class.

Contract management

Side letters and fee terms held per investor, with every amendment dated.

Revenue recognition

Schedules computed from your policy for the management company's books.

Revenue metrics

Fee income by fund, vintage and investor, from the same schedules.

Fee terms

Terms modeled as your agreements write them.

Fee basis: Committed capital in the investment period, then invested capital or net asset value, on the date the agreement names.
Step-downs: A lower rate after the investment period or on a successor fund's first close.
Offsets: Transaction and monitoring fees offset against the management fee at the agreed share.
Side letters: Investor-specific rates and discounts, applied only to that investor.
Performance fees: Calculated from the inputs your administrator provides, for review rather than posted on their own.

Each period

From fee terms to a reviewed notice.

01
Inputs
Commitments, contributions and valuations taken from your fund records.
02
Calculate
Fees per investor from the terms and side letters in force.
03
Review
Your administrator or accountant checks the working and approves.
04
Record
Invoices and journals written to the management company's ERP.

Yours

Your terms and your investors stay private.

Fee terms and side letters are among the most sensitive documents a manager holds. Apex is set up to yours, keeps them in your own tenant, and runs its models inside your environment.

Your terms

As negotiated with each investor.

Your policy

Your administrator or accountant owns it and signs off.

Your data

Never sent to a frontier model provider.

Agents propose, people approve

The agent drafts. A person decides.

A contract intake agent reads a side letter and drafts the fee terms it changes, for a person to confirm before any calculation uses them.

Every agent stops at an approval gate until it has earned its way out of one. Nothing releases cash, commits spend or touches a customer without a person saying so.

Your dataModels that read your data run inside your environment, behind your firewall. No client data reaches a frontier lab.

Apex’s agents Why the approval gate

Start here, keep the foundation

Start with one function. Add the rest without starting over.

For a fund manager, management fee calculation for one fund is a good first function. Once investors, fee terms and invoices are in your Ferrata foundation, adding the next fund or revenue reporting works from the same records.

FAQ

Questions, answered plainly.

What does Apex calculate for a fund?

Management fees on committed capital, invested capital or net asset value, with step-downs, offsets and investor-specific terms, plus performance fees from inputs your administrator provides.

Who owns the fee calculation policy?

Your fund administrator or accountant. Apex calculates from the terms you configure and shows its working; they review and approve each period.

Can side letters be handled?

Yes. Each investor's side letter terms are held against their commitment and applied only to them, with every amendment dated.

Does Apex calculate carried interest waterfalls?

Apex can calculate performance fees from the inputs your administrator provides, for review. It does not replace your administrator's waterfall or distribution process.

Is investor data kept private?

Yes. It sits in your own Ferrata tenant, models run inside your environment, and none of it reaches a frontier model provider.

Does Apex collect fees from investors?

No. Apex calculates and records. Capital calls and payments stay with your administrator and bank; Apex does no payment processing.

Related in Apex

From Ferrata Labs

Start with Apex, or talk it through first.

Thirty minutes with Ferrata Labs on one workflow. You leave with a view of where Apex fits, and an honest answer if the sequencing is wrong and you should fix something else first.