Coming soon
Private Equity Fund Waterfall Model
PE fund-level returns waterfall. European and American carry, hurdle rate, catch-up, GP/LP split. Calculates IRR, MOIC, DPI, RVPI, TVPI by deal and at fund level.
Who it's for
PE fund operations, fund accounting teams, LP analysts evaluating fund terms, GP teams modelling carry economics. Fund administrators and audit/advisory firms supporting GP/LP work.
What's in the model
COVER
Model documentation, fund parameters.
FUND_INPUTS
Commitment size, fund term, investment period, fee schedule, carry structure, hurdle rate, catch-up.
CAPITAL_CALLS
Cash flow projection: commitments, calls by deal, returns by deal.
DEAL_RETURNS
IRR, MOIC, gross/net of fees, by deal.
FUND_RETURNS
Gross IRR, Net IRR, DPI, RVPI, TVPI at fund level.
WATERFALL
European or American carry waterfall (switchable). Hurdle rate (preferred return) with full catch-up logic.
FEES
Management fee schedule (commitment-based or NAV-based). Carry crystallisation tracking.
REALISATION
Exit timing and multiple sensitivity. Cash distribution profile.
OUTPUTS
LP report format. Investment summary. Returns dashboard.
CHECKS
Fund cash flows reconcile, returns calculations tie, waterfall splits sum correctly.
What makes this different
European + American carry
Most templates support one. Ours has both with a single switch — useful when modelling different fund structures or comparing waterfall economics.
Full catch-up mechanics
GP catch-up after LP preferred return is calculated explicitly with the right precedence. Most templates skip this.
Realistic fee modelling
Management fee on commitment vs NAV with the standard taper post-investment period.
LP-side perspective
Output tab includes LP-side cash flow profile, not just GP economics.
Fund vs deal split
Both fund-level and deal-level returns calculated and reconciled.
Get notified when this launches
Excel (.xlsx) · ~10 tabs · expected pricing £295 · May 2026 launch target
No spam. One email when it ships. Or contact us at sfsmodels362@gmail.com for a custom early build.
Frequently asked questions
When will this be available?
Built as an .xlsx file already. Currently being prepared for launch — targeting May 2026. Sign up to get notified the moment it ships.
Does it support continuation funds?
Not in v1. Available as a custom build — contact us.
What about real estate / credit funds?
Separate models on the same release track: contact us if you want all three.
Can I commission an early build?
Yes — we do custom builds for fund teams that need it sooner. Use the form below.
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About SFS Models
SFS Models builds institutional-grade Excel financial models for banking and finance professionals. Used by FP&A, Treasury, ALM and Capital teams at US and UK regional banks, by PE firms, and by corporate finance consultancies. Open formulas, no VBA, fully auditable.