Capital Activity

Increased control over equalizations

Users can now decide whether they want Maybern to calculate full-fund equalizations when processing new closings. Some funds don't equalize across the entire fund, and instead use distributions to bring investors to pro-rata capital activity totals. This functionality is controllable via Fund Family Configuration.

Under Configuration → Fund Family → Profile → Equalization → Click three dots to edit

Users can now select No to opt out of Enable Equalizations

When this setting is turned to No:
- The fund will automatically opt out of equalization interest calculations
- During the subsequent closing flows, no draft equalizations will be calculated

Credit Facilities

Post interest expenses by tranche with term borrowing

To increase the complexity of credit facility interest expenses Maybern supports, users can now configure a loan's interest expense to be calculated either by tranche or daily.

For any loan using tranche-based term borrowing, users are able to post interest expense for an entire tranche, with the system setting a static rate for the duration of the tranche.

There are two main use cases for term borrowing:

Multiple tranches: each drawdown creates a new tranche, and each tranche is outstanding for a fixed period of time (e.g. 30 days) with the same interest rate for that period.
Accrual across all capital: term interest rate is fixed across all tranches and resets every period (e.g. 30 days).

Under Credit Facility → Expenses → Post Interest Expense:

Multiple tranches:

Users can select an existing loan
Users can then select an existing tranche . Each tranche shows the date that interest expenses were last posted to help users keep track of past postings with multiple tranches outstanding.
Once a tranche has been selected, users can use the date-picker to select a posting date.
- The system will suggest the next posting date based on the last posting date and the cadence inferred from the reference rate (e.g. 1-month = 30 days). However, users can select any posting date they want.
Once a posting period has been selected, users are prompted to enter the applicable reference rate. The calculation updates dynamically to show users the all-in rate.
Users can then view the daily breakdown and finalize the interest expense posting.

Accrual across all capital:

Users can use the date-picker to select a date for interest expense posting.
After selecting the effective date, users can enter the reference rate before viewing the daily breakdown and finalizing the interest expense posting.

Management Fees

Configuration to turn off fee true-ups

Some funds don't charge management fee true-ups. We’ve introduced a configuration that turns off management fee true-ups to support those funds.

Under Configuration → Fund Family → Fees

When clicking into Management Fee True Ups, users are asked whether Fee true-up charged to new investors upon close and can select Yes or No
- When users select No, the management fee true up tab is not available during the closing flow, and no new fee accruals occur upon closing.
- When users select No, management fee interest is automatically turned off as well (because the interest can’t exist without the fee catch up).

Transaction Pivoting

Save views of custom transaction pivots

We’re continuing to invest in data control and functionality, and we’ve now introduced the ability for users to save specific views on the transaction pivot table.

With this feature, users can now use custom pivot tables as reports that update in real time each time they process data in Maybern. These tables are easily shareable to other users via the Share button and exportable to excel like all other tables across the app.

Under Transactions → Pivot Mode

Users can click Save As New to create a new saved view (i.e. save the filters, visible columns, row grouping, etc. they set on a table to return to later) with a name.
- They can set visibility for the saved view to Organization or Only Me.
Users can toggle between a list of saved views:
Users can edit an existing view:
- When users are in an existing view and begin making changes to pivot filters/config, they will see options to A) save existing view or B) save as a new view.
- Users can also rename an existing view.
Users can delete a saved view.
Users can click the Share button to copy a link to their saved view to send to someone in their org.

User Permissions

Allow users to create new users within their own domain

Users now have the ability to invite colleagues into Maybern directly through the app. For additional security, this capability is limited to users with the role Admin, and the system will block any attempt to invite a user outside of your organization's email domain.

Under Settings → Users:

Users can now click to Invite Team Members.
- Users are required to enter an Email Address.
- They can then select a Role for the new user from the following:
  - Admin: can create edit, approve and rollback events. Access to audit log.
  - Power: can create, edit, approve and rollback events.
  - User: can create and edit events.
  - View Only: view-only access.
- They can then Send Invitation.
  - Note that invitations cannot be sent to users outside of the org's email domain.
Users can click the three-dot menu on existing users to Edit Role or Remove User .