USA OPPORTUNITY INCOME ONE, 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 (12 · 4 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: 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.
• 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.
• low
  Document-quality defect — USA REAL ESTATE OPPORTUNITIES INCOME, INC.The Index to Financial Statements is headed with a third fund-name variant that matches neither the current legal name ('USA Opportunity Income One, Inc.') nor the former name ('USA Opportunity Income Fund, Inc.') used elsewhere in the document.
• low
  Numeric inconsistency — Related-party advances / organization & offering costs at August 31, 2021Audited balance sheet reports 'Advances from related party' of $54,102, but Note 2 states founders/affiliates paid $54,002 of organizational and offering costs as of the same date — a $100 discrepancy on the same quantity.
• info
  Spelling / typo — case / dateDoubled/garbled wording in a cybersecurity risk factor: 'case' should be 'cause' and 'users date' should be 'users data'.
• info
  Spelling / typo — oustandingMisspelling of 'outstanding' as 'oustanding' in a balance-sheet line item.

DDQ readiness — 38% covered

5 answered · 0 partial · 8 gaps of 13 standard questions.