Seer Mortgage Capital, Inc.

Key economics

Preferred return

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Hurdle rate

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LP / GP split

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GP catch-up

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GP clawback

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GP commitment

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Diligence findings (15 · 7 high/critical)

• high
  DDQ 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.
• high
  DDQ 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.
• high
  DDQ gap: Is the fund's fee schedule disclosed (management fee, etc.)?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.
• high
  DDQ 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.
• high
  DDQ 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.
• high
  Unfilled placeholder text — [ ]% (Section 4 Fees — service fee)Section 4 leaves the core service-fee percentage as an unfilled bracket placeholder, so the actual economic fee owed to Seer Capital is blank.
• high
  Unfilled placeholder text — [ ]% (Section 4 Fees — termination fee share)The termination-fee share percentage in Section 4 is also an unfilled bracket placeholder, leaving that economic term blank.
• medium
  DDQ 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.
• medium
  DDQ 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.
• medium
  DDQ 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.
• medium
  DDQ 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.
• medium
  DDQ gap: What is the target offering size?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.
• low
  DDQ gap: What is the minimum LP investment?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.
• info
  Spelling / typo — amended from the to timeGarbled boilerplate phrase in the recitals: 'amended from the to time' should read 'amended from time to time'.
• info
  Spelling / typo — construction its tarnsBroken phrase in the governing-law clause: 'construction its tarns' should read 'construction of its terms' ('tarns' is a misspelling of 'terms').

DDQ readiness — 15% covered

2 answered · 0 partial · 11 gaps of 13 standard questions.