Fund Manager

Ascend Partner Firms•Pasadena, TX

1d•Hybrid

About The Position

Ascend is building a dynamic platform for regional accounting firms, enabling them to stay independent while accessing resources to help them grow. Ascend provides access to growth capital, talent acquisition and training, quality management resources, technology, AI tools, an offshore captive, shared back-office services, a leadership system, and modernized equity incentives. Lucas Horsfall, a CPA firm celebrating its 68th year, is seeking a Fund Accounting Manager to deliver personal and experienced service to its clients. This role oversees the accounting, financial reporting, and operational activities for real estate and private equity funds. Responsibilities include managing U.S. GAAP and tax-basis financial reporting, ensuring accurate investor allocations, and maintaining compliance with partnership agreements and regulatory requirements. The position is key across the full fund lifecycle, from capital activity to audit and tax reporting, and will be performed in a hybrid environment out of the Encino or Pasadena office locations.

Requirements

Bachelor’s degree in Accounting or Finance
Licensed and active CPA
5–10+ years of experience in real estate, private equity, or alternative investment fund accounting
Strong knowledge of partnership accounting, including capital accounts and allocations
Experience preparing or reviewing both GAAP and tax-basis financials
Familiarity with book-to-tax differences and ability to work and coordinate with tax teams
Experience with fund structures (LPs, LLCs, SPVs, blocker entities)
Demonstrated leadership and team management experience

Nice To Haves

Background in both real estate and private equity funds
Experience with complex waterfalls and carried interest structures
Experience with investor subsequent closes and concept of catch-up interest
Exposure to property-level accounting or development projects
Experience working with third-party sponsors of joint venture investments

Responsibilities

Manage day-to-day fund accounting operations, including general ledger activity, journal entries, and reconciliations
Oversee monthly and quarterly closes, including preparation and review of NAV calculations
Review U.S. GAAP and tax-basis financial statements, ensuring accuracy and consistency between reporting frameworks
Prepare and/or review capital calls, distributions, and investor allocations in accordance with Limited Partnership Agreements (LPAs)
Maintain and review partner capital accounts, including allocations of income, expenses, and carried interest/waterfalls
Coordinate accounting for investment activity, including acquisitions, dispositions, financing, and equity transactions
Manage entity structures, including consolidations across funds, SPVs, and holding companies
Partner with external auditors and tax advisors to support annual audits and tax reporting (e.g., K-1 preparation)
Maintain and enhance internal controls, policies, and accounting procedures
Lead, mentor, and review work of fund accounting staff