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Automated checks across the fund's extracted PPM. Every finding is shown with the evidence it's based on — proven numbers or a verbatim quote and page.
Drafting defects found in the PPM prose — numeric inconsistencies, broken cross-references, unfilled placeholders, and defined-term problems. Each is shown with the offending quote and its page.
Section 4 leaves the core service-fee percentage as an unfilled bracket placeholder, so the actual economic fee owed to Seer Capital is blank.
“shall pay Seer Capital fees in an amount equal to [ ]% of the quarterly Base Management Fee amounts received by the Manager pursuant to the Management Agreement.”
The termination-fee share percentage in Section 4 is also an unfilled bracket placeholder, leaving that economic term blank.
“Seer Capital will be entitled to receive [ ]% of any such termination fee, payable in cash within ten (10) days after receipt by”
Garbled boilerplate phrase in the recitals: 'amended from the to time' should read 'amended from time to time'.
“the Manager has entered into a management agreement (as such agreement may be amended from the to time, the”
Broken phrase in the governing-law clause: 'construction its tarns' should read 'construction of its terms' ('tarns' is a misspelling of 'terms').
“shall govern the enforceability and validity of this Agreement, the construction its tarns and the interpretation of the rights and duties of the parties.”
Questions a standard diligence questionnaire would ask that the PPM leaves unanswered.
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.
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.
The offering documents don't answer a standard institutional DDQ question (Fees & Expenses). An allocator will ask this directly — the GP should be ready with an answer.
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.
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.
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.
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.
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.
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.
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.
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.
How much of a standard institutional due-diligence questionnaire this fund's offering documents answer out of the box. Gaps are questions an allocator will ask directly.
No fees extracted from the PPM.
What allocators are saying. Diligence notes, open questions, attached scenarios.
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