Reliant Fund Services

What Reliant Fund Services does

Reliant Fund Services is a privately held, New York-based boutique fund administrator (LLC) that delivers outsourced fund accounting, investor reporting, treasury, audit support, tax support (K-1s, 1099s), investor inquiry handling, and advisory services primarily to private equity, venture capital, fund-of-funds, debt, real estate, and infrastructure fund managers. The firm positions itself as a high-touch alternative to large institutional administrators, emphasizing that every client — emerging or seasoned — receives senior-level attention and dedicated teams, with client relationships routinely spanning 5-20+ years (e.g., Braemar Energy Ventures 20 years, Regal Healthcare Capital Partners 5+ years).

The service platform is delivered on an industry-leading private equity software stack procured through a strategic technology partnership, providing a customized reporting suite, integrated general ledger, automated waterfall calculations, secure investor portal access, and digital subscription document processing under SOC 1 Type II audited controls. Reliant administers $12B+ in assets across approximately 30 client engagements, operating from a New York headquarters and a Cranford, New Jersey office opened in November 2021.

Reliant generates revenue through recurring, contract-based service fees for ongoing fund administration engagements, supplemented by professional services revenue from advisory, fund setup, and management company accounting work. Pricing is custom quote-based, typically benchmarked against assets under administration, fund complexity, and scope of services, and sales are conducted via direct relationship-driven outreach with no channel partners or marketplaces. The firm is founder-owned and led by Eric Schultz (CPA, founder since 1995) with no external institutional investors or parent company disclosed.

Name

Reliant Fund Services

Legal name

Reliant Fund Services, LLC

Website

https://reliantfundservices.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Reliant Fund Services is a New York-based boutique fund administrator providing outsourced fund accounting, investor reporting, treasury, audit and tax support, and advisory services to roughly 30 private equity, venture capital, real estate, and other alternative investment fund clients representing over $12B in assets under administration.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Outsourced Fund Administration Services: Reliant provides comprehensive outsourced fund administration services including fund accounting, financial and investor reporting, treasury management, audit support, tax support, investor requests and inquiries handling, and advisory services. Revenue is generated through service fees for these ongoing administrative functions, positioning as a boutique alternative to larger administrators.
2. Advisory Services: Management team reviews fund structures and legal documentation, establishes accounting policies aligned with operating agreements, and provides collaborative insight across legal, accounting, tax, and financial strategies. Includes support for first-time fund setup with referrals to industry partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Reliant Fund Services provides outsourced fund administration services to private equity, venture capital, fund-of-funds, debt, real estate, and infrastructure fund managers. Its core offering includes fund accounting per GAAP, financial and investor reporting, treasury and banking facilitation, annual audit support, tax preparation support (1099s and K-1s), investor request handling, and advisory services on fund structure and accounting policies, all delivered through an industry-leading PE software platform with a customized reporting suite and secure investor portal.

Product overview

Reliant Fund Services offers outsourced fund administration services as a unified platform of interconnected modules. The core offering consists of Fund Accounting, Financial & Investor Reporting, Treasury Services, Audit Support, Tax Support, Investor Requests & Inquiries, and Advisory Services. These services are powered by a Secure Investor Portal and Customized Reporting Suite that integrate with their accounting software to provide centralized data access, real-time reporting, and investor transparency across private equity, venture capital, fund of funds, debt, real estate, and infrastructure fund types.

Differentiator

Problem solved

Functional benefit

Products and services

• Fund Accounting Services Maintains books and records of all entities being serviced in accordance with GAAP and within the terms of legal agreements; tracks and calculates capital account details for each investor including capital calls, distributions, income and loss allocations, management fees, carried interest, waterfalls, and net asset value. Designed for private equity, venture capital, fund-of-funds, debt, real estate, and infrastructure fund managers.
• Financial & Investor Reporting Prepares interim and annual reports including capital call notices, distribution notices, financial statements, and capital account statements, distributed to clients and investors via a secure investor portal. Targeted at fund managers and the LPs/investors they serve.
• Treasury Services Facilitates payment of vendor invoices and other wires via online banking software, coordinates transfers between accounts, monitors and records cash activity, and performs routine bank reconciliations. For fund managers needing operational treasury support.
• Audit Support Provides a third-party objective solution for annual audits by liaising directly with the audit team, providing supporting documentation worksheets, drafting financial statement footnotes, and following up on auditors' requests. Designed for fund managers and management companies undergoing annual audit.
• Tax Support Prepares and distributes 1099s, works directly with tax teams to ensure annual tax returns are filed, and prepares and issues K-1s to investors by required deadlines. For fund managers and their investors.
• Investor Requests & Inquiries Provides an objective third-party administration resource ensuring all investor requests and reporting needs are handled by a team of experts. For fund managers who need external investor service support.
• Advisory Services Reviews fund structures and legal documentation, establishes accounting policies aligned with each entity's operating agreement, and provides collaborative insight across legal, accounting, tax, and financial strategies. Includes support for first-time fund setup with referrals to industry partners. For fund managers and GPs.
• Secure Investor Portal Integrated web-based platform where clients and investors can safely access fund details, documents, and account balances; offers 24/7 access to critical information, customized dashboards showing investment data across multiple funds, and various investment return calculations. For fund managers and their LPs/investors.
• Online Subscription Documents Digital subscription document processing with built-in logic, electronic signatures, improved accuracy, advanced tracking, faster response time, automated reminders, and secure data capture with export capability. For fund managers running LP subscription workflows.
• Customized Reporting Suite Comprehensive and intuitive ledger-driven reporting system producing customized reports including IRR analyses, ILPA reports, audit work papers, budget vs. actual management company reporting, and flexible detailed reporting. For fund managers requiring tailored, centralized reporting.

Quantifiable outcome

• $12B+ assets under administration
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Specialized Private Equity Software CompanycoreTechnology or IntegrationPartnered with an industry-leading software vendor providing front-office, middle-office functionality and back-office automation capabilities. The software enables customized reporting, integrated general ledger, waterfall calculations, investor portal access, and comprehensive fund accounting. This partnership provides Reliant with technology infrastructure comparable to larger administrators.

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Citco Fund Services: Major global fund administrator across hedge, private equity, and real estate funds; one RFS Accounting Manager started his career at Citibank's fund admin group before Augentius and then Reliant.
• SS&C GlobeOp: Large-scale fund administration and middle-office services provider to hedge funds, PE, and sovereign funds — represents the institutional incumbent tier against which Reliant positions its boutique alternative.
• IQ-EQ (formerly Augentius): Global fund administrator serving private capital, real estate, and infrastructure funds — directly comparable service offering at much larger scale; one current RFS Accounting Manager progressed from entry level to senior manager at Augentius before joining Reliant.
• Apex Group (incl. Broadscope): Global fund services platform acquired Broadscope Fund Administrators in 2019 — a much larger competitor offering fund admin plus depositary, custody, and corporate services. Source of significant talent for Reliant's senior team.
• State Street (Palmeri Fund Administrators): State Street acquired Palmeri Fund Administrators — a former PE fund admin that trained RFS's Jessica DeLoriea; represents the institutional tier and the consolidation pressure facing boutique competitors.
• TMF Group: Global provider of fund administration, corporate services, and governance — competes with RFS in the PE/VC and real estate fund administration segments at significantly larger scale.

Direct peers

• Gen II Fund Services: Privately-held PE/VC fund administrator providing fund accounting, reporting, and investor services — directly comparable to Reliant's core offering, and RFS's Director of Investor Services (Matt Hurley) joined from Gen II in 2020.
• Standish Management: Fund administration firm servicing PE, VC, and hedge fund clients — directly comparable boutique competitor; cited as a prior employer of an RFS Staff Accountant II.
• 4Pines Fund Services: Boutique fund administrator serving PE, VC, and credit funds — directly comparable in size, target market, and service model; referenced in management bios as a prior employer of a current RFS Accounting Manager.

Emerging players

• Carta (Fund Administration): Equity management platform that has expanded into fund administration services for VC and emerging PE managers — represents a tech-enabled, lower-cost alternative targeting RFS's emerging-manager segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/reliant-fund-services
• Xx.com/reliantfundsvcs

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reliant Fund Services