PKF O’Connor Davies Announces Administration Services for Cryptocurrency Funds

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Firm Adds New Clients to Expanding Alternative Asset Offerings

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O’Connor Davies Administration, LLC, a subsidiary of PKF O’Connor Davies, LLP, the nation's 28th largest accounting and advisory firm, announced today the launch of a new administration service offering for cryptocurrency hedge funds. With the launch, O’Connor Davies Administration also announced it currently provides complete fund administration services to three cryptocurrency hedge funds.

The announcement comes as industry demand for cryptocurrency fund administration services is reaching critical mass. This new offering demonstrates the Firm’s ongoing commitment to meeting emerging fund administration needs for a variety of asset classes, including hedge funds and private equity, venture capital, infrastructure and real estate funds and other alternative investments.

“O’Connor Davies Administration has deep experience and expertise in alternative investments, including valuing cryptocurrency assets and providing timely and accurate financial reporting,” said Marc L. Rinaldi, CPA and Partner-in-Charge of PKF O’Connor Davies’ Financial Services practice. “Three cryptocurrency hedge funds already rely on our team to provide fund administration services, and we’re eager to expand our impact in this area with a formalized approach and established offering.”

O’Connor Davies Administration’s team of industry-recognized thought leaders and experts provides highly tailored administration services to each cryptocurrency hedge fund client. The Firm manages cryptocurrency valuation on a fund-by-fund basis based on the fund’s private placement memorandum and specific valuation policies. It provides core services in helping cryptocurrency funds with a variety of holdings successfully manage and value their assets. O’Connor Davies Administration has experience in valuing and accounting for fixed forks, air drops and a range of custodial arrangements including “hot” and “warm” cryptocurrencies and “cold storage.”

As the cryptocurrency hedge fund sector continues to expand and valuation policies evolve, O’Connor Davies Administration’s decade-plus experience and expertise in fund administration will be a differentiating asset to funds seeking accurate valuations and better rates of return.

About PKF O’Connor Davies, LLP

PKF O’Connor Davies, LLP is a full service certified public accounting and advisory firm with a long history of serving clients both domestically and internationally. With roots tracing to 1891, nine offices in New York, New Jersey, Connecticut and Maryland, and more than 700 professionals, led by over 100 partners, the Firm provides a complete range of accounting, auditing, tax and management advisory services.

PKF O’Connor Davies is ranked number 28 in Accounting Today’s 2017 “Top 100 Firms” list and the Firm is also recognized as a “Leader in Audit and Accounting,” a “Pacesetter in Growth” and one of the “Top Firms in the Mid-Atlantic.” PKF O’Connor Davies is ranked number 28 in INSIDE Public Accounting’s 2017 “Top 100 Firms” list and recognized as one of the “Top Ten Fastest-Growing Firms." In 2017, PKF O'Connor Davies was named one of Vault's Accounting 50, a ranking of the 50 best accounting employers to work for in North America, and ranked among the top 50 most prestigious accounting firms in America in a complementary Vault survey. The Firm is the 11th largest accounting firm in the New York Metropolitan area, according to Crain’s New York Business, and the 11th top accounting firm in New Jersey according to NJBiz’s 2017 rankings.

By consistently delivering proactive, thorough and efficient service, PKF O'Connor Davies has built long-lasting, valuable relationships with its clients. Partners are intimately involved in the day-to-day management of engagements, ensuring a high degree of client service and cost effectiveness. The Firm’s seasoned professional staff members employ a team approach to all engagements to provide clients with the utmost quality and timely services aimed at helping them succeed. Continuity of staffing and attention to detail in all client engagements make the Firm stand out among its competitors.

PKF O’Connor Davies is the lead North American representative of the international association of PKF member firms. PKF International is a network of legally independent member firms providing accounting and business advisory services in over 400 locations in 150 countries around the world. With its tradition, experience and focus on the future, PKF O’Connor Davies is ready to help clients meet today’s ever-changing economic conditions and manage the growing complexities of the regulatory environment. For more information, visit http://www.PKFOD.com.

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Kathleen O’Toole
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