Read. Monitor. Verify.
Three layers, one platform. Every fund document you receive becomes a live portfolio you can actually manage. Every fee the GP charges gets checked against what your LPA actually allows.
Every fund document, structured
LPs receive between 60 and 100 documents per fund per year. Across ten commitments that is 600 to 1,000 PDFs. Quantistic reads six document types end to end. That is the entire LP document universe for a PE fund.
Every value you see comes with a citation back to the page and section it was read from. Numbers, terms, and clauses all link to the source.
Limited Partnership Agreement
Fund identity, GP and manager identity, total commitments, key dates (inception, closings, investment period end, fund term end), management fee terms (rate, base, frequency, step-downs), carried interest (waterfall type, rate, preferred return, catch-up, escrow, clawback), fee offsets, expense classifications and caps, investment restrictions, key person provisions, the LPAC structure, and the full LP schedule.
Side Letter
Your LP-specific fee discounts and rate replacements, MFN elections with scope and threshold, co-investment rights, enhanced reporting commitments, regulatory provisions, and indemnification carve-outs.
Capital Call Notice
Every line item classified by type (investments, management fees, partnership expenses, placement agent fees, working capital, organizational expenses, subscription facility drawdowns), amounts, call and funding dates, your share, and your unfunded commitment after the call.
Distribution Notice
Every line item classified by type (return of capital, gain or loss, income or dividends, carry, clawback, tax withheld, tax refund, recallable vs permanent), stock distributions with security and lockup data, and waterfall tier hints.
Quarterly Report
NAV reconciliation, fees gross and net of offsets, partnership expenses by category, 11 offset categories, carry roll-forward (accrued, earned, paid, escrow, returned clawback), and commitment reconciliation. For fund-of-funds, per-underlying-fund metrics.
Performance Report
Cumulative LP-allocation cash flows from inception, 8 fund-level metrics (Net IRR and TVPI with and without facility, Gross IRR and MOIC with and without facility), portfolio-level metrics for realized and unrealized positions, and per-portfolio-company cash flow detail. SEC Marketing Rule pairing enforced.
Benchmarked. 97.4% accuracy across 271 verified fields from four real-world LPAs: Carlyle, Blackstone, KKR, and a growth-fund ILPA template. See the full benchmark →
A live portfolio, not a spreadsheet
Once your documents are processed, the platform maintains live operational state per fund. The numbers are computed from the documents themselves, not GP-reported aggregates copied into Excel.
Capital account
A running balance per fund: called capital, distributed capital, fees paid, expenses paid, unfunded commitment, net cash flow, current NAV. Updated after every capital call or distribution.
Key dates
Investment period end, fund term end, MFN election deadlines, capital call due dates, fee base transition dates, extension deadlines. Computed from your LPA. Overridable by hand. Alerts at 90, 60, 30, and 7 days out.
Portfolio dashboard
Total committed, called, distributed, unfunded, NAV across every fund. Per-fund IRR, TVPI, DPI. Sortable, filterable. The view that has not existed before.
Alerts
Approaching key dates, verification flags, document gaps (capital calls for Q1 through Q3 but not Q4), threshold breaches. Surfaced in the dashboard and by email.
The math the GP did, checked against the LPA
The highest-value layer. We independently compute what the GP should have charged or distributed, then compare against what they did. Each check produces a status, the expected value, the actual value, the delta in dollars, the LPA clause that proves it, and the source page.
The most common error in PE fee verification is the fee transition: the GP continues charging on committed capital after the investment period expires, when the LPA shifts the base to net invested capital. On a $50M commitment, that difference can run into hundreds of thousands of dollars a year. This is exactly the kind of finding we surface, with the LPA section quoted and the dollar gap computed.
Management fee rate
The rate the GP charged matches the rate in your LPA, including any discount in your side letter.
Management fee base
The fee is calculated on the right base. Committed capital during the investment period, net invested capital after.
Fee transition timing
When the investment period ends, the fee structure shifts. The most common GP error. The most expensive one to miss.
Organizational expense cap
Cumulative org expenses charged to the fund have not exceeded the LPA cap.
Fee offset compliance
Monitoring fees, transaction fees, and director fees received by the GP are credited against the management fee at the percentage the LPA specifies.
Fee reconciliation
The sum of management fee line items across your capital calls matches the total reported in the quarterly report.
Unfunded reconciliation
GP-reported unfunded, capital-call-implied unfunded, and an independent recomputation all agree within tolerance.
NAV continuity
This quarter's opening NAV equals last quarter's closing NAV. Breaks here mean restatement or extraction error.
Carry distribution timing
Carry is not distributed before return of capital and preferred return tiers are satisfied.
Carry amount
Actual carry distributed does not exceed what the waterfall in your LPA earns.
Escrow compliance
The GP has deposited the percentage of carry distributions that the LPA requires to hold in escrow against clawback.
Document gaps
Capital calls for Q1, Q2, Q3, but not Q4. Quarterly report missing. You see it, then we ask the GP.
Defensible enough to send to your GP
Quantistic reads the LPA
Quantistic reads your LPA against itself, cross-checking the same field across the document and flagging anything ambiguous for a second pass.
You confirm the terms
Side-by-side review of every extracted field against the source page. Minutes per fund, once.
Math runs the checks
Fees, waterfall positions, capital account, key dates. Computed by deterministic code on confirmed inputs. Pure arithmetic.
Source citations everywhere
Every value, every flag, every dollar gap links back to the LPA clause and the document page that proves it.
Send us your first LPA
We review every access request personally and onboard design partners hands-on.