Private Equity Flashcards

1
Q

Management fees

A

Calculated as the %age fee * total paid-in capital

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2
Q

Carried interest

A

= %age carried interest * increase in NAV before distributions

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3
Q

NAV before distributions

A

= NAV after distributions in prior year + capital called down - mgmt fees + operating results

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4
Q

NAV after distributions

A

= NAV before distributions - carried interest - distributions

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5
Q

DPI multiple

A

= cumulative distributions / paid in capital

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6
Q

RVPI multiple

A

= NAV after distributions / paid in capital

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7
Q

TVPI multiple

A

= DPI + RVPI

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8
Q

Proportion of company received for investment in the company (f)

A

f = INV / PV(POST) = FV(INV) / exit value

Shares(vc) = shares(founders) * [ f / (1-f)]

Price = INV / shares(vc)

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