Waterfalls
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Running the numbers on
Joyner Capital LP· Joyner Capital
Back to fund
LP IRRⓘ
19.7%
annualized
LP Multipleⓘ
2.46×
$1M
LP Takeⓘ
81.9%
of gross proceeds
GP Takeⓘ
18.1%
incl. fees
Fee Dragⓘ
6.0%
$90K
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 · 81.9%$1M
Fees · 6.0%
GP · 12.1%
Limited PartnersFees to ManagerGP Promote
Cascade · Distributions

Where each dollar goes

$2M
LP $1M · Fees $90K · GP $182K
GROSS PROCEEDS$2MGPFFees to Manager$90,000 · 6.0% of grossLPT1Return of Capital$500,000 · 33.3% of grossLPT2Preferred Return (8%)$234,664 · 15.6% of grossGPT3GP Catch-up (20%)$58,666 · 3.9% of grossLPGPT4Residual Split (80% / 20%) · 41.1%Limited Partners · $493KGeneral Partner · $123K$pool fully distributed
LPFeesGPhover a tier for the formula · click to pin
Tier-by-tier trace
Same numbers, tabular. Click to expand.
▾
Distributions
T1
Return of Capital
Limited Partners
$500K
T2
Preferred Return (8%)
Limited Partners
$235K
T3
GP Catch-up (20%)
General Partner
$59K
T4
Residual Split (80% / 20%)
Limited Partners
$493K
T4
Residual Split (80% / 20%)
General Partner
$123K
Compare