Introduction

Scenarios can maintain different planning assumptions for the investments. The investments are shared across all scenarios, including the current version.

The Investment Manager has the possibility to:

• Access the projected value development and cash flows for future quarters

• Aggregate investment projections in break downs, like vintage, manager or strategy

• Aggregate investment projections per Investor and Investment Vehicle

• Assign Planning Assumptions to investments

• Override the automatic projection models with manual values

• Adjust the expected value developments per strategy or vintage

• Add/deactivate new planned investment

• Model selling of funds

Scenario Variables

Static data across all scenarios

Across all scenarios the fund settings are shared, including

• Commitment

• Investment Vehicle

• Commencement Date

• Fees

• active/inactive

• Shareholding

Scenario specific planning assumptions

The planning assumptions can vary between scenarios:

• Projection Method (automatic vs manual)

• Strategy

• Value Projection Assumptions on

  • distribution

  • Contributions/Drawdowns

  • Net Gain Curve Scenario

• Assumed level of Draw from open commitments

• Dinvestment

  • Discount

  • Dinvestment Phasing

• Sector Allocation

• Region Allocation

Maintaining Scenario Specific Planning Assumptions

The planning assumptions can be maintained in various screens:

• Fund Level Data

• Projections

• Planning Assumptions can be copied to different scenarios for convenience.

Scenario Process Flow

The Scenario Process Flow guides the user through the scenario development and maintenance process.

Open

The Flow contains the steps

1. Scenario Overview contains the steps to load and copy scenarios, provides overviews of the planning assumptions, the statistical models used for the projections and the management of the investments, including the capability to add new plan funds.

2. Projection Management provides overviews on Actuals, automatic and manual projections on fund level, comparison to the benchmarks.

3. Compare Scenarios allows to compare the value and cash flow projections between Scenarios.

4. Portfolio Projections displays the aggregate investment projections in break downs, like vintage, manager or strategy and for different investors and investment vehicles.

Scenario Overview

Scenario Overview contains the steps to load and copy scenarios, provides overviews of the planning assumptions, the statistical models used for the projections and the management of the investments, including the capability to add new plan funds.

Scenario Management

The Scenario Management enables the use cases:

• Load the planning assumptions from Current version to a scenario

• Copy planning assumptions of a scenario to another

• Load the planning assumptions of a scenario to Current version

Open

Copy Scenario

This process will save all fund configuration and assumptions from the source scenario to the selected scenario.

• Source version: Scenario or current to be copied from

• Select: Scenario to be copied to

Apply Scenario to Current

This process will clear all fund configuration and assumptions from the Current version and replace all settings with the settings saved in the scenario.

Scenario Naming and description

List of scenarios with possibility to rename

Assumptions Overview

All the value development planning assumptions for activated funds are visible and editable.

Statistical Value Tables

The Statistical Value Tables display the aggregated percentage of the total projected values for Distributions and Contributions per quarter.

The tables are maintained for the Strategies:

• BO - Buyout

• GR - Growth

• VC - Venture Capital

• INFRA - Infrastructure

• RE - Real Estate

• PD - Private Debt

The Index year: the projections assumptions change based on the fund age. The Index year is applied to the fund age in years. E.g. a fund in the 5th year will be projected based on the index year 5 values.

The charts display them visual

Fund Level Data

The different widgets provide data fields to update static data and the projection assumptions.

• Initial Settings

• Final Closing Updates

  • Dinvestment Data

• Fund Projection Assumptions

• Shareholding

• Region Allocation

• Sector Allocation

Change Fund Name by clicking on and complete the process.

Dinvestments

Dinvestments of existing fund investments are modeled. The parameters are

• Divestment Quarter: The quarter with the first planned Deferral payment

• Discount %: the discount on the NAV granted to the buyer

• Dinvestment Phasing: the deferral payment will be distributed linearly.
  The 0 value for the Dinvestment Planning assumes a

  • Q1: 25 %

  • Q2: 0

  • Q3: 25 %

  • Q4: 50 %

Add planned fund investments

Open the entry mask to add new planning funds click

The fund is added to all scenarios, including current.

Copy Fund Settings

The fund settings and projection assumptions are maintained separately per scenario. This capability allows to copy the fund settings to other scenarios or to the current version.

Shareholding

The shareholding of a investment by investor in % is added here:

Projection Management

Projection Management provides overviews on Actuals, automatic and manual projections on fund level, comparison to the benchmarks.

Actuals

The actuals of the investment are summarized in the Actuals and Fund Information Widget.

Projections

The values for projection set in automatic projection mode are displayed in the Projection table.

The assumptions can be changed for the scenario directly on this screen.

Projection Benchmark

The projection benchmark shows the fund performance development compared to the Benchmark.

Manual Input

For investments with “manual” projection mode, the values are maintained in the manual projection input table.

Use the button copy Projections to manual to copy the automatically projected values from a scenario as a base line for further editing.

Compare Scenarios

Compare Scenarios allows to compare the value and cash flow projections between Scenarios.

Value development

To compare scenarios select two scenarios is the filter bar.

Development of Total Value Widget is visualizing the projected NAV, Net Gain and NAV & Distribution development

in the table the projected NAV, Net Gain and NAV & Distribution development are displayed

The delta view widget displays the variances or the total of the scenarios. The view is changed by with the buttons at the top of the delta view table

Cash flow development

Development of Capital Calls & Distributions Widget is visualizing the projected Distributions, Contributions/Capital Calls and Net Invested Capital development

Portfolio Projections

Portfolio Projections

Portfolio projections by Investor and Investment Vehicles can be broken down by Funds, General Partner, Strategy etc.

Apply cross-drills in the Drill to detail table.

Fund Breakdowns

The fund breakdown allow to break down the results per Fund, Focus, Fund Size, Geography, Instrument, GP, Strategy and Asset Class.