Step-by-Step
To create a closing, navigate to the Fund Family
In the commitments workflow, click Closings
Click New Closing and enter the closing date. Note the closing date can be future dated and can also be updated at a later time as long as the event is in a draft state
Click Add Commitment
Specify (1) the investor, (2) the commitment amount, (3) the fund, and (4) the commitment class. Please note:
In order to assign a closing to a new investor, first Create an Investor in the Investors tab
In order to assign a closing to a new class, first Create a Class in the Classes workflow
Under the Equalization Preview tab, you can view each capital call and distribution allocation by investor and by use before and after the equalization, as well as catch up payments and catch up interest. Under the True Up tab, you may view the management fee catch up and equalized offsets (if applicable)
The closing is automatically saved as a draft and you can come back to it at a later time to make any changes. Note a closing in draft state will not have an impact on any other workflows or Fund Family economics
Once all the commitments have been entered and all details have been reviewed, click Finalize Closing. Note at this time true-up fees will be posted, adjusting the historical fee transactions. The equalization will still be outstanding and must be completed as a Capital Activity event (see Run an Equalization). You will still need to finalize borrowing base selections in your credit facility, if applicable
All new and historical closings are available to view on the Closings dashboard. To view details, just click on the desired closing to see the amount raised, number of new commitments/investors, and management fee true ups
