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Private Funds CFO Insights 2025
RESEARCH | February 03, 2025
Authored by RSM US LLP
Private Funds CFO Insights 2025, sponsored by RSM and conducted by Private Equity International, provides an in-depth analysis of the latest trends, challenges and opportunities faced by chief financial officers in the private funds industry. This comprehensive survey gathered insights from over 120 private fund finance leaders across various sectors, including buyout, growth capital, venture capital and real estate. The report offers valuable perspectives on how CFOs are navigating the complexities of today's market, making it an essential resource for anyone involved in private fund management.
The following sections explore four critical insights shaping the future of private fund management. These insights focus on the specific challenges faced by CFOs and the strategic solutions that can help address them, enabling organizations to stay ahead in the industry and leverage opportunities for growth and efficiency.
Critical insights shaping private fund management
Outsourcing
Outsourcing of back-office functions is a growing trend. Around 45 per cent of survey respondents plan to increase the outsourcing of investment accounting functions over the next 12 months, indicating a shift toward leveraging external expertise to manage complex financial operations. This approach allows fund managers to concentrate on strategic priorities while benefiting from the specialized skills of external service providers.
"The focus is very much on building a scalable model that allows teams to repurpose their time and work on their strategy."
William Andreoni, Partner, RSM US LLP
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Technology and innovation
Artificial intelligence and other technologies are transforming fund management. Embracing these innovations can lead to improved decision making and operational efficiency. Around 54 per cent of survey respondents are currently evaluating use cases for AI, up slightly from 50 per cent a year earlier, while 15 per cent are already actively implementing AI solutions.
"We are evaluating a number of AI tools to understand their capabilities. We are focused on ensuring we are up to speed, so that we are ready when we reach a tipping point. We want to be sure we know how it works, understand the security measures needed and who all the providers are."
Noah Becker, Chief Financial Officer, LLR Partners
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Cybersecurity
In today's digital landscape, ensuring robust cybersecurity is critical for protecting your organization. The demand for transparency in IT systems and cybersecurity protocols has grown significantly, with 72 per cent of limited partners surveyed in the past 12 to 24 months requesting more comprehensive details during the due diligence process. This trend underscores the growing importance of data security practices.
"Protecting your organization from cyberthreats is more important than ever. Investors are increasingly scrutinizing IT systems and cybersecurity measures."
Chris Iorillo, Chief Financial, Legal and Compliance Officer, Freeman Spogli
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Regulatory compliance
The latest regulatory changes are having a significant impact on fund operations. Staying compliant is essential to avoid penalties and support smooth operations. Approximately 63 per cent of firms said they find managing regulatory requirements extremely challenging, underscoring the need for specialized services to help them navigate complex compliance landscapes.
"Regulatory compliance continues to become ever more complex. The U.S. Securities and Exchange Commission’s private funds rule has quietly died, but its marketing rule is still causing headaches, particularly when it comes to what many perceive to be the illogic of presenting net performance data on unrealized portfolio companies."
Private Funds CFO Insights 2025
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Source: RSM US LLP.
Reprinted with permission from RSM US LLP.
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