As their growth accelerated, a fund manager reached out for assistance, struggling with complexity and financial staffing needs. Armanino brought the systems, guidance and support, allowing them to stabilize and thrive.
Pelorus Capital Group is a fast-growing fund manager specializing in private credit real estate financing.
Pelorus’ rapid growth strained operations. Complex cash flow, leadership gaps and limited resources put momentum at risk.
Armanino stepped in with finance outsourcing and fund administration, simplifying processes and strengthening Pelorus’ financial infrastructure.
Armanino’s support gave Pelorus reliable systems and expert guidance, enabling efficiency and a platform for growth in the future.
Pelorus Capital Group was growing fast. An asset manager specializing in private credit financing for the real estate sector, the firm saw investor demand surge. They launched new funds, and their lending niche promised attractive returns. But as the business quickly scaled, inefficiencies in the infrastructure began to show.
Cash flow management grew more complicated, requiring closer coordination with lenders and more reliable forecasting. At the same time, their CFO left, creating a gap in leadership during a critical growth phase. Together, these challenges stretched internal finance resources and highlighted the need for greater stability and strategic guidance in operations and planning.
Pelorus was gaining real traction, but without more institutionalized systems and support, the firm risked losing its footing just as it was hitting its stride. That’s when they turned to Armanino.
Armanino had worked with Pelorus’ two main owners for more than 20 years, long before Pelorus was formed. In earlier ventures, Armanino provided financial statement auditing and tax preparation, including K-1 issuance, building trust by combining technical expertise with practical advice. That history gave Pelorus confidence that Armanino understood their business, industry and ambitions.
Unlike other providers who struggled to understand the nuances of an income-producing mortgage fund, Armanino spoke the language. Years of audit files and deep knowledge of the fund’s mechanics made it easier to prepare for audits, strengthen reporting and keep investor distributions consistent and accurate.
That expertise fostered trust. Armanino anticipated issues, offered practical guidance and didn’t need handholding. Those qualities mattered even more as Pelorus grew. Beyond compliance, they needed help from a provider who could reduce their operational burden and provide strategic guidance for the road ahead.
Armanino’s strategy and transformation team stabilized operations and assessed Pelorus’ efficiency across people, processes, technology and data in several critical areas. They identified inefficiencies in loan management, vision-to-strategy alignment, procure-to-pay and portfolio management. This analysis led to recommendations projected to save approximately 132 hours per month.
Building on these insights, they implemented automated project management templates that reduced time spent on update calls, emails and pings, while enabling objectives and key results (OKR) tracking across the fund and portfolio companies. These changes created measurable time savings and improved visibility, allowing Pelorus to focus on strategic growth.
It was Pelorus leadership who encouraged Armanino to move beyond audit and tax, taking on fund administration. Pelorus wanted a team that understood their structure and investor sensitivities. Other fund managers started asking for the same thing. The demand created a new opportunity for Armanino to build a fund administration practice.
As Pelorus grew, their back office struggled to keep up. Consolidating financials across multiple entities was slow and led to inefficiencies. Yields, which investors watched closely, could swing if even small booking errors slipped through. Armanino stepped in to handle fund accounting and reporting, bringing accuracy and consistency to the process. By closing the books quickly, they helped Pelorus meet tight distribution deadlines and deliver payments on time.
Investor services were also slowing things down. Staff still processed subscription documents by hand, and Pelorus’ old portal couldn’t deliver what it needed. Incongruent data entry only added to the problem, making it challenging to give investors the reporting cadence they expected. Armanino shifted the fund to Investran, an integrated software platform for private equity and alternative investment firms, which simplified document management, improved investor communication and enhanced credibility with both current and prospective investors.
Armanino also helped prepare Pelorus for audits. In the past, auditor inquiries often went unanswered for too long, and the team didn’t have the experience to handle such a challenging process. Armanino anticipated questions, managed communications and took the pressure off internal staff. With experience as both an auditor and a fund administrator, they kept audits moving efficiently and on time.
Consistent yields were critical. Investors demanded stability, but delays from previous administration platforms had created confusion. Armanino took over allocations and valuations, delivering reliable results and freeing staff to focus on growth. At the same time, they integrated fund systems and added automation to cut down on manual entry, improve efficiency and build a platform ready to scale with future growth.
As Pelorus kept growing, leadership changes left a gap at the worst possible time. Cash flow was getting tighter, lenders were asking for frequent updates, and investors wanted reassurance that commitments would be met.
Armanino stepped in to fill the gap by providing an interim CFO. Over the next nine months, the team redesigned Pelorus’ 13-week rolling cash flow model , transforming a complex spreadsheet into a clear and reliable forecasting tool. With regular updates, Pelorus gained visibility into upcoming obligations and the assurance to manage liquidity proactively.
Just as important, Armanino led direct conversations with banks, bondholders and other key financial stakeholders. Their involvement reassured lenders that Pelorus’ debt and obligations were secure, bringing stability at a critical time.
Once operations stabilized, Armanino helped Pelorus find a long-term solution through its Consulting Exchange. This platform allowed Pelorus to bring in a CFO on a trial basis, ensuring the right cultural and strategic fit before committing to a permanent hire. The match worked, and Pelorus ultimately brought on a full-time CFO who has become a key addition to the leadership team.
By bridging the gap with interim financial leadership and then facilitating a seamless transition, Armanino ensured Pelorus had both immediate stability and the right foundation for long-term growth.
For Pelorus, the turning point was freeing the fund managers from daily operations. That let them instead focus on what they do best: deploy capital, serve investors and drive returns. Managing cash flow, forecasting liquidity and handling investor reporting had become heavy lifts that pulled attention away from growth.
Armanino took on those responsibilities, helping Pelorus maintain investor trust and focus on strategy. With clear cash flow forecasting and timely distributions, Pelorus was able to show consistent performance. And, with managed services handling the back office, they avoided the cost and complexity of building a large in-house finance function.
The benefits went beyond short-term relief. By connecting cash flow, accounting, tax and reporting, Armanino gave Pelorus a total view of operations that made it easier to spot issues before they became problems. The partnership enhanced credibility, demonstrating to investors that Pelorus’ operations were professional and built to scale.
Armanino continues to help Pelorus adapt to a changing landscape. Investors now expect information closer to real time than previously with quarterly reports. Advanced technologies like automation and artificial intelligence (AI) are making that possible. Through their relationships with leading software providers, Armanino can integrate and automate processes, so data is cleaner, reconciliations run faster, and reporting is more accurate. This helps Pelorus to meet expectations and stay ahead of investor demands as they evolve.
Is rapid growth putting pressure on your back office? Are your systems built to scale? Our strategic outsourcing fund administration services can help you streamline operations, modernize finance and free leadership to focus on driving returns.
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