Distribution waterfall & carried interest calculator
European · American · hybrid · clawback-aware
Excel waterfalls break the moment a side letter changes the hurdle. Caproom's distribution waterfall engine takes the term sheet, the cash flows and the side letters and produces a defensible carried interest calculation per LP.
Watch the waterfall fill
Set the parameters, then scroll to fill each tier.
Parameters
Illustrative — European whole-of-fund waterfall, 100% GP catch-up, simple preferred return accrual. The production engine uses Term Sheet parameters with optional side-letter overrides.
The problem with current tools
- Excel models that nobody dares to update mid-fund.
- Side letter MFN changes the hurdle for one LP, and the model doesn't reflect it.
- No clawback tracker; GP overdistribution discovered at fund wind-down.
What Caproom does differently
European, American, hybrid
Switch via the term sheet, no remodelling, no version control nightmare.
Side letter aware
Each LP's carry calc honours its MFN, its hurdle and its catch-up.
Clawback ledger
Cumulative GP carry vs. realised return per LP; clawback liability surfaced in real time.
Per-deal & whole-fund views
Both at the same time, both reconciled to the GL.