A Jumble of Waterfalls

The term “waterfall” in private markets can mean different things to different people, often leading to confusion, misunderstandings and ultimately, wasted time. Our new white paper helps to make sense of waterfall calculation models in context of different allocation scenarios.

Making Sense of Distribution Calculation Models

The term “waterfall” in private markets can mean different things to different people, often leading to confusion, misunderstandings and ultimately, wasted time. In this white paper we determine four main areas where waterfalls exist:

  • Allocation between products
  • Allocation of proceeds among limited partners
  • Allocation between GP and LP
  • Allocation within the GP

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