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LP Quarterly Report Assembly
Granite Capital Partners, Fund III
Q1 2026 reporting cycle · 47 LPs across 3 classes
Data Sources
Allvue
Fund accounting, capital accounts, waterfall
Synced
DealCloud
Deal pipeline, portfolio company tracking
Synced
Portfolio Company Portals (10)
8/10 financials received, 2 outstanding (auto-reminder sent)
8 of 10
Compliance System
Side letter terms, regulatory filings
Synced
Waterfall Verification
Pulled from Allvue, cross-checked against LPA terms: 8% preferred return, 20% carried interest, European waterfall structure. All calculations match.
PortCo #7 revenue discrepancy
$200K gap vs bank deposits. Query sent to CFO.
Generate Reports 40-Page LP Report
Assembling report
Report Sections
Fund Performance (IRR, TVPI, DPI, RVPI) pp 1-8
Portfolio Company Updates (with citations) pp 9-22
Capital Accounts per LP Class pp 23-30
Waterfall Detail (step-by-step evidence) pp 31-36
Deal Pipeline from DealCloud pp 37-40
Flags for GP Review
1. PortCo #7 revenue does not match bank deposit records ($200K discrepancy, query pending)
2. LP-042 has MFN side letter affecting management fee display (adjusted in Class B view)
Routed to GP for review before LP distribution
Fund III Performance
Net IRR18.4%
TVPI1.62x
DPI0.41x
RVPI1.21x
Fund Size$480M
Invested$312M
Waterfall Summary
Pref Return8.0%
Catch-Up100%
Carry20.0%
StructureEuropean
LPA RefSec 7.1-7.4
Generate Reports Evidence Trail
Audit-Ready
Report Summary
FundGranite Capital III
PeriodQ1 2026
LPs47 (3 classes)
Pages40
Data Sources4 systems
PortCo Reports10 of 10
Data Lineage
IRR calcAllvue GL
WaterfallLPA Sec 7.1-7.4
Deal pipelineDealCloud
Side lettersComplianceDB
LP PortalUploaded
EmailSent, 38 read
Audit Trail
  • 09:00Allvue data synced
  • 09:02DealCloud synced
  • 09:058/10 portco received
  • 09:06Auto-reminder sent (2)
  • 09:15Waterfall verified vs LPA
  • 09:30PortCo #7 flagged ($200K)
  • 10:45GP approved report
  • 11:00LP portal uploaded
Audit-Ready