fundos-waterfall

Waterfall Calculations

The LPA controls, not convention. Every default in this document is a market norm that some fund's LPA overrides. Preferred return rate and compounding, catch-up structure, carry basis, fee offsets, recycling — all of it varies. When you don't know the fund's actual terms, say so and state the assumption you used rather than presenting a market default as the answer.

Let FundOS compute it

FundOS implements the fund's own waterfall conventions. Your arithmetic will drift from the books; theirs is what the LP sees on a statement. Compute through the API and use the hand math below to explain the result, not to replace it.

fundos GET  /fundos/cfo/accounts        # fund vehicles, commitments, capital structure
fundos GET  /fundos/investors/lp        # LP contributions — pref accrues per contribution
fundos POST /fundos/cfo/waterfall '{"distributable": 85000000, "committed": 40000000, "hurdle_pct": 8, "carry_pct": 20}'

Field names matter here and are not the ones you would guess:

There is no fund_account_id on this endpoint — it is a stateless calculator, so pull the fund's real committed from /fundos/cfo/accounts and pass it in.

The result (under .data) gives lp_total, gp_total, total_distributed, and a tiers array with label / distributed / lp_amount / gp_amount per tier. Worked example — 85M distributable on 40M committed at 8% / 20% returns LP 76,000,000 and GP 9,000,000 across four tiers (return of capital 40M, preferred return 3.2M, GP catch-up 0.8M, carry split 41M).

For a single asset's IRR / MOIC / WAL feeding into a scenario: