Investment Committee Memo · Waterfalls
MHPI II, LLC
MHP Portfolio, LLC and RV Horizons, Inc. · Mobile Home Parks · Equity · Vintage 2011
41
Waterfalls composite LP-favorability score (0–100)
76
LP take (absolute)
32
Pref quality
0
Fee drag
10
GP alignment
28
Timing risk
Key economics
- Preferred return
- 8%
- Hurdle rate
- —
- LP / GP split
- 50% / 50%
- GP catch-up
- No
- GP clawback
- No
- GP commitment
- 0%
Diligence findings (3 · 1 high/critical)
- highDDQ 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.
- mediumDDQ 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.
- mediumDDQ gap: Is there a key-person provision?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.
DDQ readiness — 84% covered
16 answered · 0 partial · 3 gaps of 19 standard questions.