Allvue launches GP Accounting for private capital firms

Allvue has launched GP Accounting for private capital firms, linking its Fund Accounting and FirmView products.

The software is designed to address a longstanding administrative problem in private equity and other private capital firms, where fund accounting systems often sit apart from the accounting used for general partner entities and management companies. That separation has often left firms relying on spreadsheets or general accounting tools to manage partner capital, carried interest allocations and incentive compensation.

GP Accounting creates a two-way workflow between FirmView and Fund Accounting, so changes in investor allocations or ownership structures are reflected across both systems. The setup is intended to reduce manual reconciliation and provide a single view of fund and GP entity information.

The launch extends Allvue's effort to build a broader financial operations software offering for alternative asset managers. The company serves more than 1,000 firms globally and says those customers together manage more than $10 trillion in assets across private equity, private credit, venture capital and fund administration.

Operational gap

For many private markets firms, internal economics have remained less systematised than fund administration. While firms have invested in software for fund accounting and investor reporting, GP entity accounting has often stayed fragmented because of the complexity of partner ownership, carry arrangements, tax allocations and compensation structures.

That can increase pressure on finance teams, particularly when ownership stakes change, new participants are added to carry plans, or executives need a clearer view of how compensation arrangements connect to fund performance. Quarterly closes and audit preparation can also become more burdensome when data sits in separate systems.

With GP Accounting, Allvue is offering structured GP capital account tracking, GP-level financial statements, carried interest allocation tracking, incentive plan modelling and support for more complex tax allocations. Those functions remain split across Fund Accounting and FirmView but now operate within an integrated framework.

One immediate target appears to be the continued use of spreadsheets in carry administration. Allvue cited findings from its 2026 compensation and carry management survey showing that only 11% of firms believe their carry administration is ahead of peers.

The same survey found that 58% of firms still handle carry administration primarily in Excel. It also found that 46% of respondents pointed to rising employee expectations for stronger communication and greater transparency, while 49% identified growth in carry participation as the biggest future challenge and 42% cited difficulty forecasting outcomes.

Market context

Those findings reflect a broader shift in private capital operations, as back-office and finance systems become more important when firms add funds, expand internationally and include more employees in incentive structures once reserved for senior partners. What was manageable for smaller partnerships can become harder to control as organisational structures grow more layered.

For chief financial officers and finance teams, linking fund and GP economics may reduce the risk of mismatches between a fund's books and the economics recorded for the partner entities tied to it. It may also give human resources and leadership teams a clearer basis for compensation planning if incentive models draw directly on live financial results.

Allvue's latest move also builds on its acquisition of PFA Solutions, creator of FirmView. That deal gave the company a compensation and carried interest platform that could be paired with its existing fund accounting software, making it possible to connect parts of private capital operations that have often been handled separately.

Ivan Latanision, Chief Product Officer at Allvue Systems, said the launch is intended to address the fragmentation of firms' internal economics.

"Private markets have invested heavily in institutionalising fund accounting, but their own internal economics have remained fragmented," Latanision said.

"GP Accounting changes that. It gives firms structured control over partner allocations, carried interest, and incentive compensation, without forcing fund accountants and GP accountants into the same workflows."

Richard Change, Head of FirmView at Allvue, said the problem has persisted because GP economics often sit outside the main operational stack.

"GP entity economics have always lived in a parallel system, disconnected from fund operations and difficult to scale," Change said.

"By connecting FirmView and Fund Accounting, we're giving firms a financial architecture that reflects how compensation, carry, and ownership actually evolve. It reduces friction, improves transparency, and replaces the spreadsheets that have quietly become mission-critical."

GP Accounting is now available to both existing and new clients.