Fund Operations & Finance Associate

Who We Are

Novastone Partners is an operator-led buyout fund focused on acquiring and scaling lower middle-market companies facing succession challenges. As the investment arm of Novastone Capital Advisors (NCA), we leverage their proven platform, which integrates institutional private equity discipline with the scalability of the operator-led model.

Our approach centers on identifying and collaborating with mid-career industry experts who lead the search, acquisition, and leadership transition of businesses they will eventually operate as CEOs. By integrating high-caliber leadership prior to acquisition, we ensure alignment, continuity, and value creation from the beginning.

With $200 million in equity deployed across 22 acquisitions, NCA has built a strong track record of sourcing proprietary deals, executing seamless transitions, and driving operational excellence. We focus on companies with EBITDA between $2.5 million and $7 million, healthy margins, and low capital intensity—businesses often overlooked by larger funds but ripe for transformation.

We provide institutional investors with access to this fragmented yet highly attractive market segment through a structured, scalable, and repeatable investment model. We create sustainable value and attractive exit opportunities on an accelerated timeline by bridging the gap between retiring business owners and a new generation of skilled operators

Role description

We seek a detail-oriented, proactive Fund Operations & Finance Associate who excels in fundraising, investor relations, and fund operations. With a hands-on mindset, strong project management skills, and adaptability in a lean team, the ideal candidate will manage investor communications, oversee fund administration, and ensure regulatory compliance. This role offers broad exposure to private equity fund management and the opportunity to shape a first-vintage fund.

Main Responsibilities

Fundraising Support

• Investor Communication: Assist in editing and formatting pitch decks, investor presentations, DDQs, and other marketing materials. Maintain up-to-date investor interactions and track engagement in the CRM system.
• Data Room Management: Organize and update fund materials (e.g., PPM, LPA, financials, due diligence reports) in Dropbox and DocSend, ensuring seamless access for LPs and compliance with regulatory requirements.
• Investor Research: Identify and profile institutional investors, family offices, and fund-of-funds based on strategy, historical allocations, and interest in lower-middle-market PE. Maintain and update the investor database.
• Meeting Coordination: Schedule investor meetings, prepare briefing notes, track follow-ups, and assist in preparing materials for AGMs, quarterly updates, and investor calls.

Operational Support

• Fund Administration: Work with third-party fund administrators to ensure accurate and timely execution of capital calls, distributions, financial reporting, and investor statements.
• Legal & Compliance: Support coordination with external legal counsel and compliance advisors to manage fund documentation, regulatory filings, and investor agreements.
• Finance & Accounting: Track fund-level expenses, assist in budgeting and forecasting, and gain exposure to fund economics, carried interest models, and waterfall calculations. (This activity will be done through whatever fund admin service/software vendor we partner with ex: Juniper Sq, Carta etc.)
• Project Management: Oversee the fundraising and operational task list, ensuring all milestones, deliverables, and deadlines are met across legal, finance, investor relations, and third-party vendors.

NCA Collaboration

• Act as a key liaison between Novastone Partners and Novastone Capital Advisors (NCA), ensuring seamless communication on deal flow, fund operations, and strategic initiatives.
• Technology & CRM Management: Maintain and optimize the use of CRM systems (Affinity, Salesforce, Altvia, or similar) to track investor engagement and manage deal pipeline reporting.
• Portfolio Monitoring Support: Assist in organizing performance tracking of investments, collecting financial data from NCA PM team, and preparing portfolio updates for investors.
• Process Improvement: Identify areas for operational efficiency, implement best practices in fund management, and improve workflow automation where possible.

Additional Enhancements Based on Lean Team Structure

• Hands-on Execution: Given the small team size (two-person operation), the candidate must be adaptable and comfortable wearing multiple hats across fund administration, investor relations, and financial operations.
• First Vintage Fund Support: As this is a first-time fund, the candidate will help establish best practices, reporting structures, and operational workflows from the ground up.
• Regulatory Awareness: Assist in tracking SEC, ILPA, and other industry guidelines to ensure compliance with evolving regulations affecting private equity funds.

Must Have:

• Fund Operations & Administration – Ability to manage fund workflows, capital calls, investor reporting, data room organization, and compliance tracking.
• Financial & Accounting Proficiency – Strong grasp of fund accounting, capital calls, expense tracking, and fund economics.
• Legal & Compliance Coordination – Familiarity with LP agreements, fund documentation, SEC filings, and regulatory requirements.
• Data & CRM Management – Proficiency in CRM systems (Salesforce, Affinity, Dynamo, etc.), investor databases, and document control.
• Project Management & Organization – Ability to prioritize tasks, track deadlines, and coordinate across finance, legal, and investor relations.
• Investor Relations & Communication – Strong written and verbal communication skills for LP updates, pitch decks, and investor interactions.
• Analytical & Problem-Solving Skills – Ability to interpret fund financials, evaluate portfolio performance, and optimize fund operations.
• Adaptability & Versatility – Comfort working in a lean team, taking the initiative, and balancing multiple responsibilities in a fast-paced environment without a lot of direction.
• Technology & Process Improvement – Experience with automation tools, workflow optimization, and tech-driven fund management solutions.
• Private Equity & Investment Knowledge – Familiarity with lower middle market PE investing, deal structuring and what makes a good investment.

What We Offer

• Company benefits
• Personal benefits
• In-person events
• Employee training & development
• International exposure

We are an Equal Opportunity Employer, and all submitted CVs pass through the same application process, regardless of gender, religion, national origin, sexual orientation, race, political affiliation, marital status, disability, age, parental status, or any other non-merit factor.