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You can process a close for a private equity fund to close out the position.

In the Cash Distribution/Capitalization/Cash Entry/Final Close panel, you can close out a position in a private equity fund. This also adjusts the cost of the private equity positionThe Close transaction (LPCLOSE event) closes out the commitment and is always a full close rather than a partial close. You can break out any cash associated with the close between income, expense, and cost. This

The LPCLOSE event is part of the Capital Based Fund Investment workflow used when you set up a private equity security with a processing security type of Capital Based Fund Investment (EQCBFI).

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Process a Final Close

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To book a close for private equity using the Book Trade tool:

  1. In Accounting Center, in the left navigation pane, click Transactions > Trades > Book Trade/Rebook Trade > Book Trade.

 


  1. You see the Book Trade workspace.

  2. Complete the options in the Search Details pane and click Search.
    You see the search results based on the criteria you selected.

  3. Select the row with the private equity security with holdings you want to close.

  4. On the Book Trade tab, in the Actions group, click Action Rules, point to Other, and then click Capitalization/Cash Entry/Final Close.
    You see the Capitalization/Cash Entry/Final Close panel.

  5. In the Entity Information section and the Issue Information section, identify the entity and security for the private equity position that you want to close.

  6. Under Capitalization/Cash/Close Information, set Transaction Name to Close.
    You see the fields that apply to Close transactions.

  7. Under Local Values, specify any values associated with the Close transaction.
    You can enter local cash, settlement currency, income, expense, and an exchange rate. If the settlement currency differs from the asset currency, you can specify a settlement cash value. The system displays the current position cost and amortized cost, along with base values.

  8. Complete the remaining options on the Cash Distribution/Capitalization

/Cash Entry

  1. /Final Close panel.

  2. Click Submit to process the capitalization.