Investment Committee Memo · Waterfalls
Rock Fund VII-A, LLC
TwinRock Partners · Residential RE · Debt · Vintage 2018
74
Waterfalls composite LP-favorability score (0–100)
93
LP take (absolute)
92
Pref quality
68
Fee drag
28
GP alignment
62
Timing risk
Key economics
- Preferred return
- 8%
- Hurdle rate
- —
- LP / GP split
- 70% / 30%
- GP catch-up
- No
- GP clawback
- —
- GP commitment
- —
Diligence findings (3 · 2 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.
- 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.
DDQ readiness — 69% covered
9 answered · 1 partial · 3 gaps of 13 standard questions.