Rothstein Kass Issues Updated Alternative Investment Fund Proforma Financial Statements Manual

NEW YORK, Nov. 1, 2011 /PRNewswire/ -- Rothstein Kass (www.rkco.com), a leading service provider to the alternative investment community, has published the "Alternative Investment Fund Proforma Financial Statements Reference Manual," an advanced reference guide for preparers of financial statements for hedge and hybrid funds, fund of funds and master-feeder structures (http://www.rkco.com/Site/FundOfFunds/CorpContent.aspx). The latest edition of the Rothstein Kass reference manual includes sample financial statements for Domestic Fund, L.P.; Offshore Fund, Ltd.; Master Fund, L.P.; Domestic Feeder, L.P.; and Offshore Feeder, Ltd. structures.

"The alternative investment sector continues to adapt to serve an ever-expanding investor base, supporting its continued resilience even amid unprecedented global economic uncertainty. Though the industry has continued to benefit from strong asset flows from pension funds and other institutional investors, as well as renewed interest from high-net worth families, the life of the alternative investment fund manager has never been more complicated. Amid resurgent volatility, more intense regulatory scrutiny, and persistent competition for new investment capital, global accounting standards have continued to evolve," said Vince Calcagno, Principal-in-Charge of the Rothstein Kass Beverly Hills office. "Through decades as a leading professional services firm to the financial services industry, we have formed exceptionally strong ties to the alternative investment community and understand its current challenges. Our updated financial statements reference manual is intended to help the community keep pace with the latest guidance, while promoting ongoing discourse toward the refinement of best practices."

"Enhanced reporting guidelines, along with measured regulatory reform should finally dispel the notion that the alternative investment space is lightly regulated, while also helping to provide the level of transparency that investors now demand. Though amended guidelines ultimately offer a greater framework for comparability and consistency of reporting within the sector, they have more immediately added to the compliance burden that managers face," said Howard Altman, Co-CEO and Principal-in-Charge of the Rothstein Kass Financial Services Group. "Our latest guide was shaped by our work with the hedge fund, private equity, venture capital and fund of funds communities, and draws on the collective insights of our dedicated professionals. Our goal in sharing this material is to help managers – from start-ups to multi-billion dollar mega-funds – maintain greater focus on long-term investment objectives and on the business of managing assets."

About Rothstein Kass:

Rothstein Kass is a premier professional services firm that has served privately held and publicly traded companies, individuals, and families for more than 50 years. Rothstein Kass is consistently ranked as a top CPA firm to the alternative investment industry in independent, third-party surveys. The Rothstein Kass Financial Services Group provides services to many high-profile and respected clients including hedge funds, fund of funds, private equity and venture capital funds.

The Rothstein Kass Financial Advisory Services practice is a division of the firm's Advisory Services Group that provides independent and objective guidance on matters spanning all aspects of the client relationship. The Financial Advisory Service practice advises Rothstein Kass clients in tactical service areas including strategy, operations, technology, compliance and risk. Strategic services include infrastructure and operations, service provider evaluation, and organizational advisory. Clients include hedge fund and private equity fund managers, institutional investors, mutual funds, broker / dealers and insurance companies.

Follow Rothstein Kass on Twitter @Rothstein_Kass

SOURCE Rothstein Kass