Who’s Who & How They Connect

A family may invest through a company and through an individual, in more than one fund. OpenAdmin needs to keep the investor relationship, the legal subscriber and each fund participation separate. Otherwise a payment, commitment or notice can be attached to the wrong party.

Start with the legal investment

The subscriber identifies the participant subscribing to a class. In an ordinary investor subscription, it is an individual or a legal entity. In a feeder arrangement, it can instead be a Share Class subscribing to another class; the subscribing class and the receiving class are separate records. The fund Entity is the administered fund, and a Share Class is a class within that fund. A subscription connects one subscriber to one share class and holds the terms, commitment and activity of that participation. A subscriber investing in another class or fund needs a separate subscription so those terms and events remain distinct.

For example, Smith Holdings LLC signs a USD500,000 commitment to Class A of Fund I. The LLC is the subscriber, Fund I is the fund Entity and Class A is the receiving share class. The subscription represents this specific participation. A USD100,000 call against that subscription therefore records USD100,000 due from Smith Holdings LLC to Fund I under Class A. It does not mean the money has arrived. A later contribution records funding, and its cash link supplies settlement evidence.

Smith Holdings LLC could also subscribe to Class B or to another fund. Each participation needs its own subscription so its terms, commitment and activity remain distinct.

Group the investor relationship

An Investor is the top-level relationship used to group related subscribers. OpenAdmin stores legal entities as Investor Entities, individuals as Investor Individuals, and their connections to Investor records as Investor Subscribers. One Investor can include several subscribers; a legal subscriber can also connect to more than one Investor relationship. These groupings do not replace each subscriber's separate subscriptions.

The Investor Profiles app presents this relationship; “investor profile” describes that view, not a separate kind of legal subscriber. In the hypothetical branch below, Smith Family is the Investor, grouping Smith Holdings LLC with Jane Smith, who invests in her own name.

Read this hypothetical branch from the relationship to each separate participation. Contacts are separate and are explained next.

These are hypothetical relationships. They show why one Investor record cannot stand in for every subscription. An external entity subscriber such as Smith Holdings LLC is also distinct from the fund Entity administered in OpenAdmin.

Decide who receives notices

Contact information serves a different purpose from legal ownership. An Investor Contact holds a name, email address and other contact details associated with an Investor. It may describe an individual or a shared contact address. Creating that contact does not make it a subscriber or a notice recipient for every subscription.

A Subscription Contact association links an Investor Contact to one subscription and records its role for that participation. To send notices to the family's accountant for Smith Holdings LLC's Class A participation, check that specific contact-to-subscription link. A link for Class A does not establish a link for the LLC's other subscriptions.

If Jane Smith both invests and receives notices herself, her individual subscriber record identifies who invests; her contact record and subscription-contact link identify where communications should go. The two jobs still need to be represented.

The native Subscriptions → Data → Subscription Contacts form asks for an Investor Contact Id and Subscription Id. Once its field options have loaded, Contact Role is a multi-select with Primary, Secondary and Legal in the current Learning Sandbox. These labels record the contact's primary, additional or legal-contact role for that subscription; more than one can be selected. Confirm the organization's intended use before relying on the labels for a communication. They are different from a member's access role: the association does not grant portal access, send a notice or establish legal approval.

Native Subscription Contacts form with fictional Avery Example #1 and Cedarbridge Core Subscription #1 selected. Legal, Primary and Secondary are available roles; none is selected. This is an unsaved example of the association, not a saved recipient or an email sent.

The saved core example has Avery Example as Investor Contact #1, but its Subscription Contacts table is empty. Contact information exists; a subscription-specific recipient association has not been saved. Review that association and the intended communication process before relying on a recipient.

Choose the record that answers your question

Use Investor Profiles to review the overall Investor relationship and its linked records. Use Subscriptions for the subscriber's participation, commitment, notices and funding in a particular class. Use Organization to check the fund entity and class structure.

Before recording activity, confirm the subscriber's type and identity, destination class and fund on the subscription. Before communicating, confirm the separate contact-to-subscription link. Neither check proves cash has settled or accounting has been posted.