Tools · Calculator
Equity Waterfall
Tiered distributions across return of capital, preferred return, GP catch-up and carry. See instantly who gets what — and what the effective LP vs GP split works out to.
Calculated in your browser. Nothing is saved or sent.
Inputs
LP commit %
GP commit %
Result
1. Return of capital (pro rata)
LP $9,000,000
GP $1,000,000
2. Preferred return to LP
LP $720,000
GP $0
3. GP catch-up
LP $0
GP $180,000
4. Carry split (80 / 20)
LP $5,680,000
GP $1,420,000
LP total
$15,400,000
85.6% of distributions
GP total
$2,600,000
14.4% of distributions
On $8,000,000 of profit, LP takes $6,400,000 and GP takes $1,600,000 — an effective profit split of 80 / 20 LP/GP.
This is a single-period (deal-level) waterfall: the pref is treated as a one-time rate on LP capital, not as a compounding IRR hurdle. That makes it useful for quickly stress-testing terms; for an IRR-based pref with multi-year cash flows, model period by period.