Sample LP Report
What your quarterly reporting looks like
How incoming GP documents get organized, how that data becomes exposure, performance and capital account reporting, and what the reconciliation behind it catches. Built around a hypothetical four-fund portfolio.
Illustrative sample. Not real client data.
Document Management
Documents, Organized
We take incoming GP documents and turn them into a structured library. Every capital call, distribution notice, K-1, financial statement, and LP letter is tagged with the metadata that matters: fund, date, document type, and deadline. Nothing sits in an inbox waiting to be filed.
The result is simple. Your team stops spending time searching for the right document across email threads and shared drives. What used to take several clicks and a guessing game now takes one search.
- Ingestion of capital call notices, distribution notices, K-1s, quarterly / annual GP reports, amendments, and side letter correspondence
- Categorization and tagging by fund, document type, and reporting period — anything locatable in seconds, not searched for across email threads
- A structured, searchable document repository, accessible any time
- Deadline tracking and alerts ahead of capital call funding and distribution confirmations
Sample document center
Upcoming deadlines
LP Reporting
Exposure and Performance, Ready to Use
On the reporting side, we handle the part of the process that eats the most time: gathering data from GPs, normalizing it, and reconciling capital accounts. By the time it reaches you, your look-through exposure and performance data is already clean and structured.
That means your team isn't entering numbers or chasing down a GP for a missing figure. The data is simply there, ready to be analyzed.
Fund-level exposure
Where the commitments sit, by fund
Aggregated across all fund relationships, refreshed each reporting period from GP-provided data.
Exposure by Strategy
Exposure by Vintage Year
Exposure by Geography
Underlying holdings exposure
What look-through reveals
These are underlying holdings exposures — aggregated by look-through to the dollar value of each fund's actual portfolio company positions, not simple fund-level allocations. When a company is held by more than one fund, its exposure value is combined once, not counted twice.
Exposure by Sector
Exposure by Asset Type
Fund-level reporting stops at the fund. This doesn't — click a fund below to see which portfolio companies it shares with the rest of the portfolio, aggregated rather than double-counted.
Performance statistics
The numbers your investment committee asks for
Portfolio-level aggregate, and by fund. Click a column heading to sort.
| Fund | Strategy | Vintage | IRR | TVPI | DPI | RVPI |
|---|
Capital account
Called, distributed, and outstanding, position by position
Position-level balances drawn from GP statements and normalized to a single format. The reconciliation behind these figures is set out below.
Capital Called vs. Distributed
| Fund | Committed | Called | Distributed | NAV | Unfunded |
|---|
Capital Account Reconciliation
What the numbers do not agree on
Reporting tells you what your positions are worth. Reconciliation tells you whether the figures are right. Each period we check GP-reported capital accounts against your own records and against the fund terms, then hand you everything that does not tie out.
This is the part clients read first. Every line is a difference we found, what we believe caused it, and what needs to happen next.
Most exceptions are classification or timing differences rather than errors, and they still matter: they are what makes a position look wrong to an investment committee. The two fee items below are recoverable cash.
Exception log, quarter ended
| Fund | Finding | Type | Amount | Next step |
|---|---|---|---|---|
| Meridian Growth IVPrivate Equity · 2021 | Management fee still calculated on committed capital after the investment period ended.The LPA steps the basis down to invested capital from the fifth anniversary. Two quarters were charged on the old basis. | Fee basis | $48,200 | GP follow up |
| Meridian Growth IVPrivate Equity · 2021 | Side letter fee discount not applied to the last three quarterly fee charges.Discount was agreed at closing. The GP fee schedule appears to have been set up on standard terms. | Fee basis | $22,750 | GP follow up |
| Northgate Real Assets IReal Assets · 2019 | Recallable distribution treated internally as a permanent reduction of unfunded commitment.Unfunded is understated in your records. Affects forward commitment pacing rather than reported value. | Unfunded | $1,420,000 | Corrected |
| Ashford Venture IIIVenture · 2020 | NAV restated by the GP following the annual audit. Your records still carry the preliminary figure.The restatement was issued after your quarter close and never reached the operations mailbox. | Valuation | $312,750 | Corrected |
| Blackwood Credit IICredit · 2022 | Distribution recorded gross in your records, reported net of withholding by the GP.A presentation difference, not a loss. Carried forward as a reconciling item until the tax reporting package arrives. | Classification | $126,400 | Corrected |
| Blackwood Credit IICredit · 2022 | Capital call allocated to the wrong holding entity in your internal records.Fund-level totals agree. Entity-level reporting and the year-end allocation would not have. | Allocation | $585,000 | Corrected |
- Reconciled against GP statements, your own ledger or spreadsheet, and the fund documents that govern fees and distributions
- Every open item carries a named owner and a follow-up you can send to the manager as written
- Items that cannot be resolved this period are carried forward rather than closed out silently
Illustrative sample. Fund names, figures and findings are synthetic and do not represent any client, manager or engagement.
The real value
Where your time goes
The teams that spend less time on data entry and reconciliation are the ones spending more time on analysis, portfolio construction, and conversations with GPs. That is the gap this closes. We handle the back-office work so your time goes toward decisions, not data prep.