How to close a deal
Once your SPV has completed fundraising and you are ready to finalize the investment, several steps must be completed within the Fund Manager Dashboard.
These steps ensure that all required documentation is in place, investor compliance requirements are satisfied, and the investment funds can be properly released for the asset purchase.
The SPV closing workflow includes uploading the executed purchase agreement, configuring the wire recipient for the asset purchase, submitting a close request, and initiating the outbound wire once the closing has been reviewed by the Allocations team.
You can perform all of these steps from the Fund Manager Dashboard:
https://dashboard.allocations.com
Step 1: Upload the Signed Purchase Agreement
Before the SPV can be closed, the fully executed purchase agreement must be uploaded to the asset associated with the deal.
This document confirms the final investment terms and allows the platform to properly record the transaction.
To upload the purchase agreement:
Navigate to the Deals page.
Select the relevant deal.
Open the Manage tab.
Navigate to Assets.
Locate the asset associated with the investment.
Click the pencil icon on the asset row.
Scroll to the bottom of the asset form.
Upload the signed purchase agreement file.
Once uploaded, the document will be stored with the asset and used during the closing process.
Step 2: Add the Wire Recipient
Next, you must configure the wire recipient for the asset purchase. This specifies the destination account where the SPV funds will be transferred to complete the investment.
To add a wire recipient:
Navigate to the Deals page.
Select the relevant deal.
Open the Manage tab.
Navigate to Wire Recipients.
Click + Create.
Complete the required information in the form.
This information typically includes the receiving bank details, beneficiary name, and other required wire instructions.
Once saved, the wire recipient will be available for the closing process.
Step 3: Submit the Close Request
After uploading the purchase agreement and configuring the wire recipient, you can submit the Close Request.
To submit the closing request:
Navigate to the Close tab within the deal management interface.
Review the closing details.
Submit the Close Request.
Submitting the close request signals to the Allocations operations team that the SPV is ready to be finalized.
Important Requirement: Investor KYC
Before the closing process can proceed, all investors must have successfully completed KYC verification.
The platform cannot release funds for the investment until the required investors have passed compliance checks.
To review investor KYC status:
Open the deal.
Navigate to the Investors section.
Select Table View.
Within the table, you can review the KYC status for each investor.
If any investors are marked as pending or requiring review, these issues must be resolved before closing can proceed.
Allocations Team Review
Once the close request has been submitted, the Allocations team will review the deal and confirm the closing details.
During this process, the team will provide:
A breakdown of the deal economics, including:
Total capital raised
Applicable platform or management fees
Final amount available to wire
Any remaining requirements needed before the SPV can be closed, such as pending KYC verification or missing documentation.
This review ensures that all deal information is accurate before funds are transferred.
Request the Outbound Wire
After the close request has been reviewed and the deal economics have been confirmed, you will be able to initiate the final wire transfer for the investment.
To request the outbound wire:
Navigate to Wire Requests in the platform sidebar.
Click + Create Wire Request.
Complete the required wire request details.
Submit the request.
This request instructs the platform to transfer the SPV funds to the configured wire recipient.
Processing Time
Please submit your closing request as early as possible.
Closing requests require approximately 48 hours to process. Additionally, investor funds must remain in the account overnight in accordance with banking requirements before the wire can be executed.
Allowing sufficient processing time ensures that the closing can be completed without delays.
Once the closing process is complete and the wire request has been executed, the SPV investment will be finalized and the funds will be transferred to complete the asset purchase.
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