Your GPs report the fees.
Who verifies them?
Quantistic cross-references your LPA terms against GP fee reports and flags every discrepancy — with evidence.
The Problem
SEC enforcement tells the story
$52.7M
Apollo
Undisclosed fees and conflicts of interest
$39M
Blackstone
Acceleration of monitoring fees
$30M
KKR
Misallocated broken-deal expenses
$683K
TZP Group
Operating partner fee mischarges
“LPs rely on GPs to self-report fees. That's like asking the fox to audit the henhouse.”
The Solution
What Quantistic does
LPA & Side Letter Extraction
Automatically extracts fee terms, waterfall provisions, and side letter modifications from your fund documents.
Fee Calculation & Comparison
Calculates expected fees from extracted terms and compares them against GP-reported actuals.
Evidence-Backed Discrepancy Reports
Every flagged discrepancy includes source references, calculated vs. reported figures, and severity classification.
We don't just extract data — we compute expected fees from your contract terms and compare them against reported charges.
How It Works
Three steps to verified fees
Your experience, from upload to insight.
Upload Your Documents
Upload LPAs, side letters, and GP quarterly reports. We support PDF and common document formats.
AI Extracts & Calculates
Our verification engine identifies fee terms, calculates expected charges, and cross-references against reported actuals.
Review Flagged Discrepancies
Each flagged item includes source-linked evidence — the specific LPA clause, calculated amount, and reported amount side by side.
Why Now
The window is open
SEC Enforcement Acceleration
Enforcement actions against PE fee practices have intensified from 2023–2025, with multi-million dollar settlements becoming routine.
ILPA Reporting Template v2.0
The new ILPA template (Q1 2026) raises the bar for fee transparency. LPs need to verify, not just receive.
Record PE Allocations
LP allocations to private equity are at all-time highs. More capital deployed means more fees to verify.
Regulatory Expectation of Diligence
Regulators increasingly expect LPs to independently verify fee calculations, not rely solely on GP reporting.
The question isn’t whether you have fee errors. It’s whether you’re catching them.
Design Partner Program
Join our Design Partner Program
We are looking for 5–10 institutional LPs to shape the future of fee verification.
What You Get
- ✓Early platform access — free during the program
- ✓Direct input on product roadmap
- ✓Priority onboarding & white-glove support
- ✓Preferred pricing locked in at launch
- ✓Quarterly insights briefing
What We're Looking For
- ›Family offices or fund-of-funds
- ›3+ active PE fund relationships
- ›Willingness to share anonymized feedback
- ›A point-of-contact for monthly check-ins