What is included
A model built around the decision
Commitment, capital-call and deployment schedule
Asset pipeline and portfolio roll-up
Management fees, fund costs and carried interest
Financing, exits, recycling and reserves
Gross and net fund IRR and multiples
LP cash flows and fundraising scenarios
Best suited to
Typical mandates
First-time fund managersClosed-end fundsSyndicatesClub dealsImpact and ESG strategies
How the engagement works
- 1Map fund terms and strategy
- 2Build deployment and asset assumptions
- 3Connect fees, financing and exits
- 4Add fund waterfall and LP cash flows
- 5Test pace, return and fundraising scenarios
Frequently asked questions
Can you model a fund before assets are identified?
Yes. A planning model can use representative asset cohorts, deployment pacing and portfolio assumptions, then transition to asset-level inputs as deals become identifiable.
Does the model show gross and net returns?
Yes. Asset and fund-level returns can be reconciled through fees, expenses, financing and carried interest to show the net LP outcome.
Can you model recycling and follow-on capital?
Yes. Recycling periods, reserves, follow-on investment and reinvestment limits can be reflected where the fund documents provide the relevant rules.
Further reading
- Real Estate Fund Models: Capital Calls, Fees and the J-CurveHow a real estate fund model handles commitments, capital calls, management fees and carried interest, and why early returns are negative.
- Real Estate Financial Modeling: A Practical GuideWhat a real estate financial model contains, the main model types, how to build one step by step and what makes a model institutional-grade.
- Excel vs ARGUS for Real Estate Modeling: When to Use EachARGUS is strong for lease-by-lease commercial cash flows. Excel is strong for bespoke deal structures. Most institutional deals use both.
- 10 Real Estate Financial Model Mistakes Reviewers Catch FirstThe ten errors lenders and investment committees find most often in real estate models, and how to check your own workbook before they do.
Discuss your real estate fund model
Talk directly with a financial modelling consultant about your deal, model, or lender requirements.
No obligation. You speak directly with the consultant who would build your model.