Waterfalls

Class B Units IRRⓘ

26.3%

annualized, this class

Class B Units Multipleⓘ

3.22×

$536K

LP Takeⓘ

68.9%

of gross, fund-level

GP Takeⓘ

31.1%

incl. fees, fund-level

Fee Dragⓘ

8.1%

$71K

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 · 68.9%$603K

Fees · 8.1%

GP · 23.0%

Limited PartnersFees to ManagerGP Promote

Cascade · Distributions

Where each dollar goes

$875K

LP $603K · Fees $71K · GP $201K

Gross proceeds at exit

$875K

FFees to Manager

$71,250 · 8.1% of gross

taken before the waterfall→ GP $71K

T2Class B share of Operating Cash Flow (pro rata, no preference) · Class B Overall Percentage share of remaining operating cash flow distributed monthly pro rata to Class B holders; independent of Class A waterfall

$536,146 · 61.3% of gross

uncapped — takes what remains→ B $536K

Where it lands · of gross proceeds

LP $603K (68.9%)Fees $71K (8.1%)GP $201K (23.0%)

LPFeesGPhover a tier for the formula · click to pin

Tier-by-tier trace

Same numbers, tabular. Click to expand.

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Distributions

Class B share of Operating Cash Flow (pro rata, no preference) · Class B Overall Percentage share of remaining operating cash flow distributed monthly pro rata to Class B holders; independent of Class A waterfall

Class B Units

$536K

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