Investment Committee Memo · Waterfalls
Traction Capital Fund - Land Development LLC
Unique Ability Capital, LLC (Wesley Greene) · Land Development (residential + commercial) · Preferred_Equity · Vintage 2018
84
Waterfalls composite LP-favorability score (0–100)
100
LP take (absolute)
94
Pref quality
—
Fee drag
42
GP alignment
74
Timing risk
Key economics
- Preferred return
- 12.5%
- Hurdle rate
- —
- LP / GP split
- 0% / 100%
- GP catch-up
- No
- GP clawback
- —
- GP commitment
- 0%
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: 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.
DDQ readiness — 69% covered
9 answered · 1 partial · 3 gaps of 13 standard questions.