Pick how composites are weighted for you. Affects every score across the app.
Sponsored by Cornerstone Realty Advisors·
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.
Exhibit A (General Provisions) states the initial non-refundable set-up fee is $1,500.00, but Exhibit B (Schedule of Fees) lists the Acceptance Fee (Non-Refundable) as $1,000.00 — a $500 discrepancy.
“Escrow Agent shall be entitled to an initial, non-refundable set-up fee ('initial fee') of $1,500.00 ... [Exhibit B] Acceptance Fee (Non-Refundable) $1,000.00”
Three date blanks left unfilled in the executed agreement: the agreement effective date, the Prospectus date, and the Minimum Offering Termination Date are all blank placeholders.
“entered into as of __________, 2003 by and among ... pursuant to a Prospectus dated __________, 2003 ... not accepted by the Fund prior to ___________, 2004”
Section 5 enumerates investment options as (i), (ii), then '(iii) or (iv)' — item (iii) is missing and the text jumps nonsensically to a combined '(iii) or (iv)', indicating a deleted clause was not renumbered.
“in (i) Bank accounts, (ii) Bank money-market accounts, (iii) or (iv) short-term securities issued or guaranteed by the U.S. government.”
Typographical error: 'end' used where 'and' is clearly intended in the CANCELLATION clause.
“pay to the Escrow Agent the initial fee together with all costs end expenses of Escrow Agent, including attorney fees.”
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 (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.
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.
What allocators are saying. Diligence notes, open questions, attached scenarios.
Be the first allocator to leave a take.