We now support storing bank account information on the investor entity and fund entity. This data can be used in the future to populate cover letters and/or notices for users who leverage our Maybern or ILPA notice generation solution.

Under the Profile tab for both the investor entity and fund entity profile pages, there is a new section for Bank Information that contains the below fields:

Users can set and edit this information directly from the profile page of a given fund or investor entity, or they can add this information in bulk across multiple entities from Entities > Add entity bank information

After bank information has been added to a given entity, upon viewing the profile of that entity, users will see the bank information present, but the Bank Name , ABA / Routing Number , and Account Number fields will be hidden by default.

We've also introduced the ability to add contact information on any investor entity. Users can define zero to many contacts for a given investor entity.

Under the Profile tab on the investor entity profile page, there is a new section for Bank Information that contains the below fields:

Users can set and edit this information directly from the profile page of a given investor entity, or they can add this information in bulk across multiple entities from Entities > Add investor entity contact information

After the user has added one or more contacts to an investor entity, under the Profile page of that entity, the contact information will be displayed.

When preparing a capital call or distribution, users can now add more granular notes for each use in the call or distribution.

After finalizing the capital call or distribution, users can see the line-item level notes entered upon clicking into the call or distribution.

We’ve improved the P&L input screen to:

On any completed cash waterfall, users now the option in the top right-hand corner to Download Audit.

Upon selecting Download Audit , the system will export an Excel file. The exported file will include a separate tab for each investor entity in the fund. Below provides a high-level description of the audit's structure:

In upcoming releases, we'll be introducing the below enhancements:

To improve the process of validating Mayben data against General Ledger data, all tables can now be grouped by an external ID of any type. In the below example, the table is grouped by the Yardi external ID.

This can be a helpful grouping (rather than grouping by Maybern investor entity) in situations where a given Maybern investor entity (e.g. the GP entity) has more than one external ID in another system.

We've made several enhancements to the Capital Activity table that lives on the investor and investor entity levels to allow users to more easily draw insights, answer capital activity related questions, and audit Maybern data.

We've adding dynamic column grouping to this table, and introduced the below new columns:

Dynamic grouping on this table allows users to answer questions such as: "How much have I called in Management Fees from this investor across all funds", "How much have I distributed to this investor in Fund I relative to Fund II", etc.

We now support the ability to configure a preferred return rate that changes at a given point in time.

Under Configuration > Fund Family > Waterfall , users now have the ability to indicate if the Preferred Return hurdle has date range?

When the above setting is set to Yes , users will have the ability to add multiple hurdles and associated date ranges under the Preferred Return tier at the fund family level:

High-level example to explain calculation methodology

If you have 8% pref from 1/1/20, and 9% pref from 1/1/22, and calculate preferred return on 6/1/24:

We've introduced the ability to calculate preferred return on either an equalized or actual cash flow basis for any transaction code in the system.

Previously, each transaction code could be specified to either effect preferred or not. Now, users can define in the Preferred Return Reference Cash Flow if the transactions associated with a given transaction code should impact preferred return on an actual or equalized basis.

If this field is left empty, transactions associated with the transaction code in question will not be factored into preferred return calculations.

The system now supports a date override for calculating preferred return in one-off instances where users may not want to use the actual or equalized cash flows as a reference date for calculating pref (e.g. a full fund equalization).

We've introduced full-screen overlays in workflows where the system is processing calculations to provide additional clarity to users and protection against multiple users attempting to process the same workflow at the same time.

Previously, users were not able to process a transfer in Maybern that was dated earlier than the most recent completed event in the fund.

Users can now complete a transfer with an effective date as any historical date in the past (even if It’s earlier than other completed events in the system).

Backdated transfers will work as any other Maybern transfer, such that all transactions ITD from the transferor are offset; new transactions for the transferee are written.

All actual views will still reflect any events as they were processed in Maybern, even if the event was after the effective date of the transfer. All equalized views will always show the new recipient.

Previously, users could only view performance for a given investor / investor entity / commitment for one period at a time.

We've updated the format of this table to allow users to see performance across quarters in a single view to more easily identify performance trends and export performance metrics over time.

We've also introduced the below new columns

We've made the below updates to the Yardi Capital Event export that is available on any completed capital call for a fund that has configured Yardi as the General Ledger (under Configuration > Fund Family > Profile > Third-party Integration):

Exports now break out rows not just by unique transaction code, but each unique transaction code x investment combination. For example, if a capital call contains 10 rows for Capital contribution - investment for 10 different investments, the Yardi export will now have 10 distinct rows vs. 1.

The notes column of the Yardi export has also been updated to be structured as [investment name]: [line item note]. If no investment is specified for the transaction, the yardi note would simply be [line item note]. If only an investment is specified but no line item note, the yardi note would simply be [investment name]. If neither are specified, the yardi note would be empty.

We've updated the default sorting of the Commitments table to be by commitment amount (i.e. commitments with largest percentage ownership of fund are at the top of this table by default).

We've also updated the state column from the Commitments table to be set to active for any commitment that is still in the fund. Previously, this was empty for all commitments except those that had been transferred out (exited).

As our data capabilities on tables continues to expand (column filtering, enhanced grouping, etc.), we've introduced a Reset Table option in the top righthand corner of each data table.

This option becomes available once the user has manipulated the table in any way, and will return the table back to the default state that appears on page load.

For more granular configuration controls and reporting, we've introduced the below new transaction codes: