Fund Controller

(Lexington, KY )

MiddleGround Capital (“MiddleGround”) is an operationally-focused lower middle-market private equity firm with offices in New York City and Lexington, KY. MiddleGround specializes in making control equity investments in North American companies in the business-to-business (“B2B”) industrial and specialty distribution sectors with enterprise values up to $200M. MiddleGround was founded on precisely that premise: committing to investing in the lower middle market while building a sustainable franchise for the long term.


Completed Bachelors Degree
5+ years as an Accountant
CPA not required but preferred
A minimum of 1-2 years in private equity with either a top tier accounting firm in transaction advisory, M&A, or a Private Equity fund with a fixed income status, SBIC, or Lower-Middle Market/Middle Market focus
Superior attention to detail and analytical skills

Fund Controller Responsibilities

Develop and maintain relationships with the firm’s 3rd party fund administrator, fund accountants, tax advisors, and audit firms.
Manage deadlines and work products to ensure accounting and tax services are provided effectively and efficiently.
Manage audit firm to ensure audits are performed correctly and any concerns are corrected, and systems are put in place so that concerns are prevented.
Review invoices and make sure all fund providers are paid on time for work done.
Preparing and/or Reviewing financial statements and footnotes, ensuring consistency with the appropriate reporting framework
Reviewing capital activity including capital calls, distributions, and transfers
Managing and monitoring the timely delivery of quality limited partner deliverables (quarterly financials, statements of partners’ capital, audit confirmations, ad hoc reporting as needed)
Analyzing agreements/side letters between limited partners and investment managers to ensure fund(s) are operating according to the agreements
Reviewing partner allocations and waterfall schedules
Reviewing fee calculations including (but not limited to) management fees, professional fees, and carried interest allocations
Cash flow management and reporting for the fund(s) and co-investment vehicles
Oversee accounting systems, processes, and procedures to ensure efficient operations and ensure that accounting records are accurate and in accordance with GAAP, as well as oversee appropriate controls, checks, and balances across the organization.
Manage and oversee the daily accounting operations, report red flags, and propose solutions.
Capital budgeting for the Fund(s) and co-investment vehicles
Safeguard assets and assure accurate and timely recording of all transactions by implementing disciplines of internal audits, controls, and checks across Fund(s) and management company
Ensure up-to-date and accurate records of all financial transactions, including inflows, outflows, budgets, investments, receivables, payables, collectible assets, vendor contracts, insurance, etc.
Create new accounting procedures, budgets, and reporting for any new operation or business line (i.e., the fund(s)/co-investment vehicles).
Create checklists, document procedures, and institutionalize knowledge base for all financial procedures
Assist the rest of executive management to develop the annual budget
Administer banking arrangements, loan agreements, covenant compliance and maintain adequate sources of capital for the Fund(s)’ current borrowings from commercial banks and other lending institutions

*The Fund Controller position will sit in our Lexington, KY headquarters office location*
If interested, please email and provide a current CV.