Waterfalls
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Running the numbers on
DeRosa Growth Fund LLC· DeRosa Group
Back to fund
Class B Units IRRⓘ
-2.4%
annualized, this class
Class B Units Multipleⓘ
0.88×
$88K
LP Takeⓘ
93.1%
of gross, fund-level
GP Takeⓘ
6.9%
incl. fees, fund-level
Fee Dragⓘ
6.9%
$60K
Dollar split

Where your dollar goes

Every dollar of gross proceeds traced through the waterfall at the current exit.

Total gross proceeds$875,000
LP · 93.1%$815K
Fees · 6.9%
Limited PartnersFees to ManagerGP Promote
Cascade · Distributions

Where each dollar goes

$875K
LP $815K · Fees $60K · GP $93
Gross proceeds at exit
$875K
FFees to Manager
$60,000 · 6.9% of gross
taken before the waterfall→ GP $60K
T1Class B Preferred Return (7%) · Operating distributions: first, distribution of accrued, unpaid Class B Preferred Return to Class B Members (7% non-compounding cumulative on Invested Capital)
$35,000 · 4.0% of gross
uncapped — takes what remains→ B $35K
T2Tier 1 Residual - Class B share (70%) · On Class B portion of Invested Capital, before Class B reaches 13% IRR
$53,043 · 6.1% of gross
uncapped — takes what remains→ B $53K
T3Tier 2 Residual after 13% IRR - Class B share (60%) · Upon Class B Member receiving 13% IRR, splits adjust to 60% Class B / 30% Legacy / 10% Class M
$404 · 0.0% of gross
uncapped — takes what remains→ B $404
T4Tier 3 Residual after 16% IRR - Class B share (50%) · Upon Class B Member receiving 16% IRR, splits adjust to 50% Class B / 30% Legacy / 20% Class M
$8 · 0.0% of gross
uncapped — takes what remains→ B $8
Where it lands · of gross proceeds
LP $815K (93.1%)Fees $60K (6.9%)GP $93 (0.0%)
LPFeesGPhover a tier for the formula · click to pin
Tier-by-tier trace
Same numbers, tabular. Click to expand.
▾
Distributions
T1
Class B Preferred Return (7%) · Operating distributions: first, distribution of accrued, unpaid Class B Preferred Return to Class B Members (7% non-compounding cumulative on Invested Capital)
Class B Units
$35K
T2
Tier 1 Residual - Class B share (70%) · On Class B portion of Invested Capital, before Class B reaches 13% IRR
Class B Units
$53K
T3
Tier 2 Residual after 13% IRR - Class B share (60%) · Upon Class B Member receiving 13% IRR, splits adjust to 60% Class B / 30% Legacy / 10% Class M
Class B Units
$404
T4
Tier 3 Residual after 16% IRR - Class B share (50%) · Upon Class B Member receiving 16% IRR, splits adjust to 50% Class B / 30% Legacy / 20% Class M
Class B Units
$8
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