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Automated checks across the fund's extracted PPM. Every finding is shown with the evidence it's based on — proven numbers or a verbatim quote and page.
Drafting defects found in the PPM prose — numeric inconsistencies, broken cross-references, unfilled placeholders, and defined-term problems. Each is shown with the offending quote and its page.
Article VIII Section 8 (Liability Insurance) cites 'this Article VII' but the enclosing article is Article VIII (Corporate Indemnification Plan); Article VII covers Dividends.
“whether or not the Corporation would have the power to indemnify him against such liability under the provisions of this Article VII.”
Capitalized term 'Indemnitee' used in Article VIII Section 11 but never defined in Article VIII Section 1's definitions list, which defines only Corporation, Expenses, Liability, Not Opposed to the Best Interest of the Corporation, Other Enterprises, Proceeding, and Serving at the Request of the Corporation.
“the parties hereto agree that Indemnitee shall enjoy by this agreement the greater benefits so afforded by such law or provision of the Articles of Incorporation”
Garbled text 'election , on of directors' — appears to be a broken/corrupted sentence fragment that should read 'election of directors'.
“election , on of directors a statement specifying the persons paid, the amounts paid, and the nature and status at the time of such payment of the litigation or threatened litigation.”
Errant apostrophe mid-word in 'conference' telephone' — likely a stray smart-quote or OCR artifact corrupting the phrase.
“Members of the board of directors may participate in any regular or special meeting by means of a conference' telephone or similar communications equipment”
Subject-verb number mismatch: 'The directors or officer is fairly and reasonably entitled' — every parallel provision uses 'director or officer'; 'directors' here is inconsistent and grammatically broken.
“The directors or officer is fairly and reasonably entitled to indemnification or advancement of Expenses, or both, in view of all the relevant circumstances”
Questions a standard diligence questionnaire would ask that the PPM leaves unanswered.
The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Fees & Expenses). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
How much of a standard institutional due-diligence questionnaire this fund's offering documents answer out of the box. Gaps are questions an allocator will ask directly.
No fees extracted from the PPM.
What allocators are saying. Diligence notes, open questions, attached scenarios.
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