Waterfalls
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Running the numbers on
Golden Garages, LLC· Nectar Garages Manager, LLC (Ben Lapidus & Gerrit Van Maanen)
Back to fund
LP IRRⓘ
19.3%
annualized
LP Multipleⓘ
2.42×
$1M
LP Takeⓘ
80.5%
of gross proceeds
GP Takeⓘ
19.5%
incl. fees
Fee Dragⓘ
8.8%
$133K
Dollar split

Where your dollar goes

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

Total gross proceeds$1,500,000
LP · 80.5%$1M
Fees · 8.8%
GP · 10.6%
Limited PartnersFees to ManagerGP Promote
Cascade · Class A-1 Pool

Where each dollar goes

$2M
LP $1M · Fees $133K · GP $160K
GROSS PROCEEDS$2MGPFFees to Manager$132,500 · 8.8% of grossA-1T1Return of Capital$250,000 · 16.7% of grossA-1T2Pref (10% IRR)$152,628 · 10.2% of gross$$281K to next pool
LPFeesGPhover a tier for the formula · click to pin
Tier-by-tier trace
Same numbers, tabular. Click to expand.
▾
Class A-1 Pool
T1
Return of Capital
Class A-1
$250K
T2
Pref (10% IRR)
Class A-1
$153K
Class A-1 Pool (pre-20%)
T3
65/35 split
Class A-1
$183K
T3
65/35 split
Class B (Mgr)
$98K
Class A-2 Pool
T1
Return of Capital
Class A-2
$250K
T2
Pref (12% IRR)
Class A-2
$191K
Class A-2 Pool (pre-20%)
T3
75/25 split
Class A-2
$181K
T3
75/25 split
Class B (Mgr)
$60K
Class A-2 Pool (post-20%)
T4
40/60 split
Class A-2
$469
T4
40/60 split
Class B (Mgr)
$703
Compare