Investment Committee Memo · Waterfalls
Wealthcasa Capital Fund, LP
WealthCasa Capital GP, LLC · Residential RE · Debt
44
Waterfalls composite LP-favorability score (0–100)
60
LP take (absolute)
55
Pref quality
0
Fee drag
25
GP alignment
55
Timing risk
Key economics
- Preferred return
- 70%
- Hurdle rate
- —
- LP / GP split
- 70% / 30%
- GP catch-up
- No
- GP clawback
- —
- GP commitment
- —
Diligence findings (6 · 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.
- mediumDDQ 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.
- lowDDQ gap: What is the fund's vintage year?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.
- lowWaterfall splits to the GP with no explicit return-of-capital tierA residual GP split is present but no extracted tier returns the LP's contributed capital first. This is often an extraction nuance rather than a structural hole, but worth confirming against the distribution section.
DDQ readiness — 54% covered
7 answered · 1 partial · 5 gaps of 13 standard questions.