Private Markets Maintenance Event Processing Notes

Owned by Jawann Swislow
Last updated: Aug 27, 2024
2 min read

A maintenance event is available in V17 R2.49 and above to perform a one-time update of the position fields that are critical for Private Market investments. This is typically used by new clients when converting positions using the Point in Time method or existing clients upgrading from releases prior to V17 R2.36. It is processed as an adjustment with an Event Type (55) of UPDATEPE. Exercise caution when running the event in production as it directly updates the object with the values submitted and no additional edit checks are applied. It requires administrator access to run manually from Accounting Center > Setup > Admin > STAR Object (BLOB) Maintenance > Update Private Equity Fields or in bulk via Batch Uploader.

None of the lookups or calculations described below are applied when using Batch Uploader. All fields must be populated with the appropriate values in the file before it is submitted.

The maintenance event cannot be run for an Effective Date (35) when the position has subsequent transaction activity booked in Eagle Accounting unless the subsequent activity is canceled first. It can be run “as of” for a previous date. The best practice is to run it over the weekend or first thing Monday morning with an Effective Date (35) of Saturday or Sunday. This ensures the position is up to date and ready for any transactions that come in from Monday onward, while also isolating the impact of the maintenance event to a date when there is unlikely to be other activity.

  • Entity Name (1164) & Entity ID (1163): entity that holds the position

  • Issue Name (961) & Primary Asset ID (14): security in which the position is held

  • Effective Date (35): trade date of the update (no subsequent activity booked in Eagle Accounting)

  • Total Commitment Local (16086)

  • Capital Calls Local (18450)

  • Recallable Capital Local (18390)

  • Funded Commitment Local (18386): calculated as Capital Calls Local - Recallable Capital Local

  • Unfunded Commitment Local (18388): calculated as Total Commitment Local - Capital Calls Local + Recallable Capital Local

  • FX Rate (87): looked up automatically from the entity’s FX Source (1344), but can be overridden

  • Total Commitment Base (18392): calculated as Total Commitment Local / FX Rate, but can be overridden

  • Capital Calls Base (18449): calculated as Capital Calls Local / FX Rate, but can be overridden

  • Recallable Capital Base (18391): calculated as Recallable Capital Local / FX Rate, but can be overridden

  • Funded Commitment Base (18387): calculated as Capital Calls Base - Recallable Capital Base

  • Unfunded Commitment Base (18389): calculated as Total Commitment Base - Capital Calls Base + Recallable Capital Base

If a maintenance event is processed with incorrect values, it can be canceled using Accounting Center > Setup > Admin > STAR Object (BLOB) Maintenance > Cancel Private Equity Maintenance Event. This reverts the position to its previous values.