Companion files
Accounting, NAV, Capital Calls, Valuation, Investor Reporting
These are the four Excel workbooks that go with the book. Every number in them is a live formula, and every figure Chapters 30 and 31 publish is reproduced exactly. Nothing is locked, protected or watermarked.
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Chapter 30
The whole-of-fund waterfall on $160m of proceeds against $100m of contributed capital, through all four tiers, landing at $148m to the LP interests and $12m to carry. All fifteen published figures reproduce exactly. The catch-up is the part worth opening the file for: the chapter solves C ÷ ($10m + C) = 20% by hand and gets $2.5m, and the cell contains that solution rather than the answer — change the carry rate to 25 percent and the catch-up moves to $3.3m on its own. A separate sheet prices what the chapter says but does not model: on the pre-filled profile an 8 percent preferred accrues $37.2m against a flat $10m.
DownloadXLSX · 17 KBChapter 31
It is 30 September, the administrator's draft trial balance has arrived, and five things are wrong with it. The file finds each one, carries its journal entry, and bridges from a draft partner capital of $125m to a corrected NAV of $128.5m — cross-checked against the balance sheet, which agrees. Both routes are computed independently and the sheet states out loud whether they agree. Every correction is an input you can zero out.
DownloadXLSX · 16 KBChapters 5 and 10
Enter the investor register once. The file allocates a call on participation percentages, tracks unfunded commitments, allocates a distribution with its recallable treatment, and rolls every investor capital account. Three reconciliations run automatically and each says so out loud when it fails — including the tie of the investor subledger to net asset value, which is the one that stops a bad quarter becoming a restatement.
DownloadXLSX · 20 KBAppendix B
All ten checklists and their 125 items: capital calls, distributions, management fee, expense review, investment closing, valuation, NAV review, quarter-end close, audit readiness and the first ninety days. Status dropdown, notes column, and a progress sheet that counts what is still open by section.
DownloadXLSX · 15 KB| Blue text | a hardcoded input — you may edit these |
| Black text | a formula — do not overtype these |
| Green text | a link to another sheet |
| Yellow fill | the assumptions that carry the answer |
Two routes to the same NAV is not redundancy; it is the control. A close that agrees with itself only one way has not been checked. None of the five findings in Chapter 31 was a modelling error — every one came from a control that did not exist, and every one was found by connecting two records that should have agreed and did not.
The entries and allocations are simplified illustrations, exactly as in the text. Account names, treatment and waterfall mechanics vary by accounting framework, legal structure and governing document. These files model the arithmetic; they do not model your documents.
The workbooks open in Microsoft Excel, LibreOffice Calc, Google Sheets and Numbers. They use no macros and no add-ins, so nothing needs to be enabled or trusted. If your spreadsheet asks to update links on opening, decline — there are none.
The other books with companion files. The full list of titles is on the author page.