BRIDGEWELL INCOME TRUST LLC

Key economics

Preferred return

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Hurdle rate

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LP / GP split

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GP catch-up

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GP clawback

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GP commitment

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Diligence findings (16 · 5 high/critical)

• high
  DDQ gap: Does the fund engage an independent auditor?The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: Does the fund have a GP clawback provision?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: Is the fund's fee schedule disclosed (management fee, etc.)?The offering documents don't answer a standard institutional DDQ question (Fees & Expenses). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: What is the LP/GP carried-interest split above the preferred return?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: What is the preferred return (hurdle) rate offered to LPs?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: Does the fund use a third-party fund administrator?The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: Is there a GP catch-up, and at what rate?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: What distribution-waterfall structure does the fund use?The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: What is the GP's capital commitment (skin in the game)?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: What is the target offering size?The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
• low
  Broken cross-reference — Article VIIArticle VIII Section 8 (Liability Insurance) cites 'this Article VII' but the enclosing article is Article VIII (Corporate Indemnification Plan); Article VII covers Dividends.
• low
  DDQ gap: What is the minimum LP investment?The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
• low
  Defined-term defect — IndemniteeCapitalized term 'Indemnitee' used in Article VIII Section 11 but never defined in Article VIII Section 1's definitions list, which defines only Corporation, Expenses, Liability, Not Opposed to the Best Interest of the Corporation, Other Enterprises, Proceeding, and Serving at the Request of the Corporation.
• low
  Spelling / typo — election , on of directorsGarbled text 'election , on of directors' — appears to be a broken/corrupted sentence fragment that should read 'election of directors'.
• info
  Spelling / typo — conference' telephoneErrant apostrophe mid-word in 'conference' telephone' — likely a stray smart-quote or OCR artifact corrupting the phrase.
• info
  Spelling / typo — The directors or officerSubject-verb number mismatch: 'The directors or officer is fairly and reasonably entitled' — every parallel provision uses 'director or officer'; 'directors' here is inconsistent and grammatically broken.

DDQ readiness — 15% covered

2 answered · 0 partial · 11 gaps of 13 standard questions.