Year-By-Year
also known as: time-series · time series waterfall · accrued pref · snowball pref
What the year-by-year view exposes that the aggregated view hides — accrued pref dynamics, refi mechanics, and how IRR builds over time.
Read the full explainer
Time-Series Waterfalls: Why Timing Beats Multiple →9 min read · waterfalls
Related terms
- Accrued PrefWhat the year-by-year view exposes that the aggregated view hides — accrued pref dynamics, refi mechanics, and how IRR builds over time.
- Snowball PrefWhat the year-by-year view exposes that the aggregated view hides — accrued pref dynamics, refi mechanics, and how IRR builds over time.
- Time Series WaterfallWhat the year-by-year view exposes that the aggregated view hides — accrued pref dynamics, refi mechanics, and how IRR builds over time.
- Time-SeriesWhat the year-by-year view exposes that the aggregated view hides — accrued pref dynamics, refi mechanics, and how IRR builds over time.
- Catch-UpFull vs. partial catch-up: how the GP claws their way to the headline split after the LP gets the pref.
- CatchupFull vs. partial catch-up: how the GP claws their way to the headline split after the LP gets the pref.
- Distribution WaterfallHow private fund profits flow to LPs and GPs through the four standard tiers — return of capital, preferred return, catch-up, and carried interest.
- GP Catch-UpFull vs. partial catch-up: how the GP claws their way to the headline split after the LP gets the pref.