Connect Invest II 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 (21 · 8 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: 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.
• high
  Numeric inconsistency — Ignite commencement of operations: 1995 vs. March 2011The PPM narrative states Ignite commenced operations in 1995, while the financial statement notes twice state March 2011 — a 16-year discrepancy that materially affects the presented track record.
• high
  Unfilled placeholder text — $ _________Multiple unfilled dollar amounts in the Liquidity section — aggregate Notes outstanding and total assets not populated.
• high
  Unfilled placeholder text — August __, 2024Offering Circular date left blank on cover page — document was not finalized before distribution.
• high
  Unfilled placeholder text — August __, 2025Offering termination date blank in multiple places — investors cannot determine when the offering closes.
• 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.
• low
  Numeric inconsistency — $198,086,900,00 — malformed number in loan tableAcquisition Loans for 2022 in the historical loan table shows '$198,086,900,00' — an extra comma makes the figure ambiguous or erroneous.
• low
  Numeric inconsistency — Allowance for credit losses 2021 ending balance: $445 provision vs. $455 balanceThe allowance for credit losses table shows a beginning balance of $0 and provision of $445 for 2021, but the ending balance is listed as $455 — the arithmetic does not sum ($0 + $445 = $445, not $455).
• low
  Spelling / typo — Chief Executive OfficeSignature page title reads 'Chief Executive Office' instead of 'Chief Executive Officer' — missing final letter in a legal signature block.
• low
  Spelling / typo — We have has enteredDouble verb 'have has' — broken sentence grammar in substantive business description.
• low
  Spelling / typo — we have has providedRepeated double-verb error 'have has' in second substantive sentence — indicates copy-paste without review.
• info
  Spelling / typo — Connect Invest are only fundingSubject-verb disagreement: 'Connect Invest are' should be 'Connect Invest is' — grammatical error in body text.
• info
  Spelling / typo — earlies maturity date'earlies' is not a word — should be 'earliest' in the redemption plan description.
• info
  Spelling / typo — oFFERING CIRCULAR SUMMARYSection header has lowercase 'o' followed by all-caps 'FFERING' — apparent copy-paste capitalization error in a section title.
• info
  Spelling / typo — PROIVDEDObvious spelling error 'PROIVDED' instead of 'PROVIDED' in a financial statement heading.

DDQ readiness — 38% covered

5 answered · 0 partial · 8 gaps of 13 standard questions.