Pension, Endowments & Foundations

The Reality

The grunt work that costs your organization time, accuracy, and trust

description

Board packet assembly is the highest-visibility recurring task

3-4 days of analyst time every quarter. Data from 50+ managers via Backstop, reconciled against State Street or BNY, formatted for the investment committee. Performance vs. policy benchmark, funded status, drift analysis, GASB exhibits, alternatives updates. Getting it wrong has career consequences. Getting it late has board consequences.

account_balance

Alternatives data reconciliation with 90-day NAV lag

Capital call and distribution tracking across 30-100+ alternative managers. PE and real estate NAVs arrive on a 90-day lag. Commitment pacing and liquidity modeling are spreadsheet-driven. The denominator effect pushes allocations above target, but the rebalancing analysis requires current data you don't have.

assignment

Regulatory filings are data assembly problems

GASB 67/68 for public pensions, ERISA and Form 5500 for corporate plans, UPMIFA compliance for endowments, IRS 990-PF and excise tax calculations for foundations. Your portfolio systems track the data. They don't generate the filings. Your team assembles each one manually from multiple sources every cycle.

search

Manager search RFP process runs on email and spreadsheets

Consultants like Aon, Mercer, and Cambridge Associates advise on manager selection. But the operational execution falls on your staff. RFP distribution, response collection, side-by-side comparison, transition planning, and new manager onboarding. Each search consumes weeks of analyst time across 20-50 candidate managers.

CIO Investment Director Operations Director CFO

How It Works

The grunt work across every cycle

Investment operations, compliance, finance, and reporting. Each tab shows what your team handles today and what changes with PitCrew.

sync

Manager Data Feeds Monitoring

75+ manager reports expected each quarter. Some arrive via Backstop, some via email, some via portal download. Your team tracks which reports are outstanding, chases managers for missing data, and reconciles formats across providers.

With PitCrew: Manager report ingestion tracked automatically. Outstanding reports flagged with auto-reminders sent to managers. Format normalization across providers. Your team reviews exceptions, not the inbox.

payments

Cash Flow Management

Benefit payments for pensions, spending distributions for endowments and foundations. Cash needs forecasting against illiquid portfolios. Capital calls arrive unpredictably. Your team manages liquidity across multiple accounts and custodians.

With PitCrew: Cash flow projections updated daily from custodian feeds. Benefit payment schedules, spending requirements, and pending capital calls consolidated. Liquidity shortfalls flagged before they become problems.

compare_arrows

Custodian Reconciliation

State Street, BNY Mellon, Northern Trust, or JP Morgan custodian data versus internal records and manager statements. Position breaks, pricing variances, and settlement timing differences across thousands of holdings.

With PitCrew: Custodian feeds reconciled against internal records and manager statements nightly. Timing differences auto-resolved. Material breaks flagged with context. Reconciliation evidence documented per position.

call_received

Capital Call and Distribution Processing

30-100+ alternative managers issuing capital calls and distributions on different schedules. Wire instructions, approval workflows, and accounting entries all handled manually. A missed capital call can trigger default provisions in LP agreements.

With PitCrew: Capital call notices extracted, wire instructions validated against standing records, approval workflow triggered. Distribution proceeds reconciled. Every transaction documented with full audit trail.

description

Board Packet Assembly

45-page deck every quarter. Executive summary, asset allocation with drift analysis, manager performance grid for 50-100+ managers, GASB exhibits, alternatives update with commitment pacing. Data pulled from Backstop, custodian, and internal systems. 3-4 days of analyst time.

With PitCrew: Board deck sections auto-generated from connected systems. Performance vs. policy benchmark, funded status, drift analysis, manager color-coding, GASB exhibits, and alternatives updates assembled. CIO reviews and approves. Analyst time: hours, not days.

monitoring

Manager Performance Monitoring

30-100+ managers across public equity, fixed income, real assets, and alternatives. Performance attribution, benchmark comparison, and watch list management. Underperforming managers need documentation per the Investment Policy Statement before the board meeting.

With PitCrew: Manager returns compared to benchmarks automatically. Underperformance triggers mapped to IPS watch list criteria. Documentation assembled with performance history and peer comparison. Your investment team makes the decision, not the spreadsheet.

account_tree

Alternatives Monitoring

PE, real estate, infrastructure, and hedge fund allocations with stale NAVs and 90-day reporting lag. Commitment pacing models, unfunded obligations tracking, and liquidity projections all in spreadsheets. The denominator effect distorts allocation percentages every quarter.

With PitCrew: Alternatives portfolio consolidated with lag dates flagged. Commitment pacing updated against actual calls. Denominator-adjusted allocation calculated. Unfunded obligations tracked with projected call schedule. Board-ready exhibit generated.

balance

Asset Allocation Rebalancing

Policy targets, tolerance bands, and rebalancing triggers defined in the IPS. But actual allocation drifts due to market moves, capital calls, distributions, and the denominator effect. Rebalancing analysis requires current data across liquid and illiquid holdings.

With PitCrew: Actual vs. target allocation calculated with denominator adjustment. Drift flagged against IPS tolerance bands. Rebalancing trade list generated for liquid holdings. Illiquid allocation drift documented with explanation for the board.

fact_check

GASB 67/68 Reporting

Public pension plans must report net pension liability, discount rate sensitivity, and plan fiduciary net position under GASB 67/68. Data comes from the actuary, custodian, and internal records. Each exhibit has strict formatting requirements. Your team assembles these manually from multiple sources.

With PitCrew: GASB exhibit data aggregated from actuarial reports, custodian statements, and internal records. Draft exhibits generated with required formatting. Discount rate sensitivity tables calculated. Your CFO reviews, not assembles.

assignment

ERISA / Form 5500 Filing

Corporate pension plans file Form 5500 annually with schedules for investments, service providers, and financial statements. Data scattered across custodian, recordkeeper, actuary, and internal accounting. ERISA compliance documentation assembled from multiple departments.

With PitCrew: Form 5500 schedules pre-populated from connected systems. Investment schedules, service provider disclosures, and financial data aggregated. Draft filing produced with supporting documentation. Your compliance team reviews before submission.

calculate

Actuarial Review Coordination

Annual actuarial valuation requires census data, plan provisions, investment returns, and assumption changes. Your team coordinates data delivery to Milliman, Aon, or Buck. Review of the actuarial report requires cross-referencing assumptions against board-approved parameters.

With PitCrew: Census data and investment return packages assembled for actuary delivery. Actuarial report reviewed against prior year assumptions and board-approved parameters. Changes flagged with impact analysis. Evidence trail documented.

search

Manager Search and RFP

Manager searches involve RFP creation, distribution to 20-50 candidates, response collection, side-by-side comparison, finalist interviews, and transition planning. Consultants advise on selection. The operational work falls on your investment team.

With PitCrew: RFP responses extracted and normalized for comparison. Side-by-side analysis generated across key criteria. Transition cost estimates assembled. Documentation package produced for board approval. Your team evaluates, not tabulates.

swap_horiz

Manager Termination and Transition

Terminating a manager and transitioning assets involves liquidation instructions, tax lot optimization, receiving manager coordination, custody transfers, and benchmark transition analysis. Each step has timing dependencies and documentation requirements.

With PitCrew: Transition plan generated with timeline, tax implications, and custody transfer instructions. Progress tracked against milestones. Transition cost analysis documented. Board reporting on transition status auto-updated.

quick_reference_all

Ad Hoc Board Requests

Board members and trustees request scenario analyses, peer comparisons, and policy reviews between regular meetings. Each request requires pulling data from multiple systems and producing a presentation-quality response. Your team drops everything to respond.

With PitCrew: Common request types pre-templated with live data connections. Scenario analysis, peer comparison, and policy review requests assembled from existing data. Your CIO reviews the response, not the data pull.

gavel

SEC / DOL Exam Response

SEC or DOL examiners request investment records, compliance evidence, and fiduciary documentation spanning multiple years. Documents scattered across custodian portals, internal drives, and consultant reports. Response deadlines are tight.

With PitCrew: Examiner requests mapped to evidence produced throughout the year. Documents indexed by category, date, and manager. Assembly automated from the evidence trail. Your team reviews and submits, not searches.

emergency

Emergency Liquidity Needs

Market dislocations, unexpected benefit obligations, or large capital calls can create urgent liquidity needs. Identifying which holdings to liquidate requires real-time portfolio data, tax lot analysis, and manager notification coordination.

With PitCrew: Liquidity analysis generated from current portfolio holdings. Tax-efficient liquidation options ranked. Manager notification drafts prepared. Cash flow impact modeled against upcoming obligations. Decision-ready package for CIO within hours.

PitCrew Skills

8 Skills configured for your institution

A Skill is an agentic workflow that connects to your systems, runs the work end-to-end, surfaces exceptions for your team to review, and produces a complete evidence trail. Our team configures each one to your organization's data, policies, and thresholds.

sync

Reconcile Data

Compare holdings across custodian (State Street, BNY, Northern Trust), manager statements, and internal records. Flags position breaks, pricing variances, and NAV discrepancies. Handles alternatives with lagged NAVs and prior-quarter valuations.

rule

Review Documents

Review manager reports against IPS requirements, actuarial reports against board-approved assumptions, LP agreements for compliance obligations, and vendor contracts for fee accuracy. Flags deviations before they reach the board.

data_object

Extract Data

Pull structured data from manager quarterly reports, capital call notices, distribution statements, actuarial valuations, and RFP responses. Normalizes formats across 50+ managers so your team works with clean, comparable data.

price_check

Validate Fees

Calculate management fees against signed IMAs across 50-100+ managers. Supports tiered schedules, performance fees, carried interest, and commitment-based fees for alternatives. Compares calculated fees to what was invoiced. Identifies overcharges and billing errors.

person_add

Onboard Entities

Onboard new investment managers across custodian, accounting system, and reporting platforms. Read LP agreements, extract terms, set up fee schedules, configure reporting templates. Also handles manager transitions and account restructuring.

summarize

Generate Reports

Assemble quarterly board packets, GASB 67/68 exhibits, Form 5500 schedules, alternatives commitment pacing reports, and manager performance grids. Data aggregated from custodian, Backstop, and internal systems. Your CIO reviews the output, not the data pull.

monitoring

Monitor Drift

Continuous monitoring for asset allocation drift against IPS targets, alternatives commitment pacing against plan, manager performance against watch list triggers, and liquidity ratios against minimum thresholds. Denominator-adjusted calculations included.

quickreply

Respond to Inquiries

Assemble responses to SEC/DOL exam requests, board member questions, and auditor inquiries from your evidence trail. Every workflow run throughout the year produces indexed, timestamped evidence. When the request arrives, the evidence is already organized.

Integrations

Connects to the systems your institution runs on

Don't see yours? We build custom integrations for whatever your organization runs on.

Portfolio / Investment

SimCorp
State Street Alpha
BNY Eagle
BlackRock Aladdin

Custodians

State Street
BNY Mellon
Northern Trust
JP Morgan

Risk / Analytics

MSCI Barra
Bloomberg
FactSet
Wilshire Atlas

Alternatives

Burgiss / MSCI
BlackRock eFront
Cobalt (Hamilton Lane)

Actuarial

Milliman
Aon
Buck

Reporting / Analytics

Addepar
Backstop / ION Analytics
Caissa

Accounting

SAP
Oracle
Tyler Technologies / Munis

Productivity

Outlook
Teams
Excel

Frequently asked questions

Last updated: April 2026

How does PitCrew handle quarterly board packet assembly?

PitCrew connects to your custodian, Backstop/ION Analytics, and internal systems to aggregate manager data, performance returns, and allocation data. It generates each section of the board deck: executive summary, asset allocation with drift analysis, manager performance grid with color-coding, GASB exhibits, and alternatives updates with commitment pacing. Your CIO reviews and approves the assembled packet. Data lineage is documented per source.

How does PitCrew handle alternatives with lagged NAVs?

Alternative investments typically report on a 90-day lag. PitCrew tracks which managers have current NAVs versus prior-quarter valuations, flags stale data in all reports, and adjusts allocation calculations accordingly. Commitment pacing models are updated as capital calls and distributions are processed. The denominator effect on allocation percentages is calculated and documented for the board.

Can PitCrew generate GASB 67/68 exhibits?

Yes. PitCrew aggregates data from actuarial reports (Milliman, Aon, Buck), custodian statements, and internal records to produce GASB 67/68 exhibits including net pension liability, discount rate sensitivity tables, and plan fiduciary net position schedules. Draft exhibits are generated in the required format. Your CFO and actuary review before inclusion in the CAFR.

Does PitCrew replace our investment consultant?

No. PitCrew is complementary to consultants like Aon, Mercer, Cambridge Associates, NEPC, and Callan. Consultants provide asset allocation advice, manager search recommendations, and strategic guidance. PitCrew handles the operational workflows they don't cover: data reconciliation, board packet assembly, compliance filings, capital call processing, and evidence documentation. Your consultant advises. PitCrew executes the operational work.

How is institutional data protected?

PitCrew is SOC 2 Type II certified. Hosted on AWS with three-tier network isolation, encryption at rest (KMS), TLS 1.2+ in transit, and Multi-AZ deployment. Zero data retention after processing. Your data is never used for model training. Every access logged and auditable. We meet the security requirements of public pension plans and institutional investors.

Board packets shouldn't take 3 days