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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.
Use-of-proceeds table labels Net Proceeds as 100.00% of gross even though 10% of expenses (0.5% + 9.00% + 0.5%) was deducted from the 100.00% Gross Offering Proceeds, so the net line should read 90%, not 100%.
“Gross Offering Proceeds $250,000 100.00% $5,000,000 100.00% ... Net Proceeds from Offering $225,000 100.00% $4,500,000 100.00%”
Project-cost line item misspells the federal health-privacy statute HIPAA as 'HIPPA'.
“HIPPA Compliance Requirements”
Officer bio uses 'principle' (a noun meaning a rule) where 'principal' (a key person/owner) is meant when describing Charles C. Smith, Jr.'s role in real estate projects.
“including as a principle in commercial real estate projects in excess of $200 million”
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 (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.
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.
What allocators are saying. Diligence notes, open questions, attached scenarios.
Be the first allocator to leave a take.