Equisource Hotel Fund I, LLP

Key economics

Preferred return

—

Hurdle rate

—

LP / GP split

—

GP catch-up

—

GP clawback

—

GP commitment

—

Diligence findings (12 · 7 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.
• high
  Document-quality defect — ACTIVCARE INCOME FUND, LLCIndemnification paragraph names a different, unrelated entity ('ACTIVCARE INCOME FUND, LLC') instead of the offering fund Equisource Hotel Fund I, LP — a copy-paste error from another deal that leaves the indemnitee mis-identified.
• high
  Numeric inconsistency — purchase price per Unit ($1,000 vs $1)Per-Unit purchase price is stated as '$1,000 per Unit' in the Acceptance and Payment sections but as '$1 per Unit' in the investor information block — a 1,000x contradiction in the unit price.
• 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.

DDQ readiness — 23% covered

3 answered · 0 partial · 10 gaps of 13 standard questions.