Investment Committee Memo · Waterfalls
Red Oak Capital Fund II, LLC
Red Oak Capital · Unknown · Vintage 2010
18
Waterfalls composite LP-favorability score (0–100)
—
LP take (absolute)
35
Pref quality
4
Fee drag
20
GP alignment
15
Timing risk
Key economics
- Preferred return
- —
- Hurdle rate
- —
- LP / GP split
- —
- GP catch-up
- —
- GP clawback
- —
- GP commitment
- —
Diligence findings (12 · 5 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.
- highDDQ 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.
- highDDQ 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.
- highDDQ 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.
- highUnfilled placeholder text — www.[●].comUnfilled bracketed placeholder token shipped to investors in place of the URL where the subscription agreement is hosted.
- 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 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.
- mediumDDQ 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.
- mediumDDQ 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.
- infoSpelling / typo — COMMISIONMisspelling of 'COMMISSION' in the substantive SEC legend on the cover.
- infoSpelling / typo — MangerRepeated misspelling of the defined term 'Manager' as 'Manger' in the economics/fee disclosures (recurs at multiple places, e.g. the promotional-fee cap).
- infoSpelling / typo — ReimbersementMisspelling of 'Reimbursement' in the managing broker-dealer compensation table line item.
DDQ readiness — 38% covered
5 answered · 0 partial · 8 gaps of 13 standard questions.