Introduction
No successful real estate fund is a solo act. Even the most experienced sponsors rely on a strong team to manage the complex legal, financial, operational, and investor relations aspects of fund management. Assembling the right group of professionals is not just about filling seats—it’s about creating a foundation for trust, efficiency, and long-term growth.
Let’s explore the essential roles you need to fill (and why each matters) as you launch and grow your real estate fund.
- Fund Manager / Sponsor
At the heart of every real estate fund is the sponsor or fund manager—you.
Responsibilities:
- Defining the fund’s investment strategy and vision
- Sourcing and underwriting deals
- Managing the acquisition and disposition process
- Overseeing team performance and investor relations
If you’re moving from syndications to funds, your leadership is even more critical, as investors look to you for track record, integrity, and clarity of vision.
Learn how to transition from syndicator to fund manager in this free training.
- Securities Attorney
Launching a fund means navigating complex securities regulations.
Responsibilities:
- Structuring your fund entity (LLC, LP, etc.)
- Drafting the Private Placement Memorandum (PPM), operating agreement, and subscription documents
- Ensuring SEC compliance and handling state filings
A knowledgeable attorney is non-negotiable—mistakes here can jeopardize your fund before it starts.
See our guide to legal structures for more on this topic.
- Certified Public Accountant (CPA) or Fund Accountant
Your fund’s finances must be impeccable.
Responsibilities:
- Designing the fund’s accounting systems
- Overseeing capital calls, distributions, and investor allocations
- Preparing tax documents and annual audits
A CPA with real estate fund experience will help you avoid costly errors and keep investors confident in your reporting.
- Investor Relations Manager
As your fund grows, so does the need for ongoing communication.
Responsibilities:
- Onboarding new investors and answering their questions
- Providing regular updates and performance reports
- Managing distributions and responding to concerns
Excellent investor relations can set your fund apart and encourage investors to re-invest in future offerings.
- Acquisition & Asset Management Team
Great deals are the lifeblood of your fund.
Responsibilities:
- Sourcing, underwriting, and performing due diligence on new acquisitions
- Overseeing property management, value-add strategies, and dispositions
- Monitoring performance against fund projections
Early on, you may fill these roles yourself, but as you scale, specialists will allow you to move faster and smarter.
- Fund Administrator (Optional, but Highly Recommended)
A fund administrator handles much of the back-office work so you can focus on strategy.
Responsibilities:
- Managing capital accounts, investor statements, and compliance records
- Facilitating smooth capital calls and distributions
- Handling reporting and audits
Outsourcing this role can boost efficiency and minimize errors, especially as your investor base grows.
- Advisors and Board Members
Experienced advisors—attorneys, accountants, real estate pros—can provide invaluable oversight and credibility.
- Tap into their expertise for deal vetting, strategy pivots, and crisis management.
- Their presence reassures investors that your fund is well-governed.
How to Assemble Your Team
- Start with your core strengths: Fill gaps with trusted partners or outside advisors.
- Prioritize experience: Seek professionals with direct real estate fund experience.
- Communicate your vision: Make sure everyone is aligned with your fund’s goals and values.
Conclusion
A high-performing real estate fund is built on the shoulders of a high-performing team. By assembling the right legal, financial, operational, and advisory talent, you’ll set your fund up for smooth operations, regulatory compliance, and investor trust.
Ready to see how seasoned sponsors build their teams and launch successful funds?
Register for my on-demand training to get the proven blueprint for assembling your fund team and launching in just 21 days.