Timing versus multiple
What IRR does this MOIC imply at a given hold period?
- Calculation
- IRR / MOIC timing
- Details
- Canonical definition page
Boundary: Single entry and exit only. Interim cash flows require a different cash-flow model.
Five live calculators · One decision router
Private Equity Returns Lab
Start with the decision you are trying to make. The Lab routes that question to the calculator or worked example that already owns the math, then opens a dedicated workflow when the answer depends on a named method, governing agreement, or user-supplied source.
This is an extension layer, not a sixth calculator.
It does not copy the five glossary formulas or replace the definition pages that own them. Advanced workflows disclose their method and require the inputs a generic formula cannot supply.
- Live calculators
- 5
- Routed questions
- 5
- Advanced workflows
- 6
- Copied formulas
- 0
01 · Question router
One returns system, with clear ownership for every calculation.
The five calculator engines remain inside the Private Equity Glossary and their canonical definition pages. The Lab adds workflow routing and six method- or agreement-bound workbenches.
11 scenarios shown
Available now, live calculators
Route the question to the calculator that already owns it.
No formulas are copied into this routing layer.
Enterprise value to equity value
After debt, cash, and other claims, what equity value remains?
- Calculation
- Enterprise-to-equity bridge
- Details
- Canonical definition page
Boundary: The user supplies the relevant claims. The engine does not determine deal-specific debt-like items.
Sponsor equity plug
How much sponsor equity is required after debt and rollover?
- Calculation
- Sponsor equity plug
- Details
- Canonical definition page
Boundary: The engine solves the sponsor-equity plug from entered uses and sources. It does not size debt capacity.
Working-capital adjustment
Does actual closing working capital move price up or down versus the peg?
- Calculation
- Closing adjustment
- Details
- Canonical definition page
Boundary: The calculation uses the entered peg and actual balance. The appropriate peg remains a diligence judgment.
LP and GP proceeds
How does a whole-fund waterfall allocate proceeds after the preferred return?
- Calculation
- LP / GP allocation
- Details
- Canonical definition page
Boundary: The existing engine models one European whole-fund waterfall with a full GP catch-up, not every LPA.
Advanced returns workbenches
Use a named method or governing terms where no generic default exists.
Each live workflow makes the controlling method, source or agreement input visible.
Public Market Equivalent (PME)
Did dated private-fund cash flows outperform a selected public benchmark?
Method: Kaplan-Schoar PME or Direct Alpha
Boundary: The user supplies one consistent total-return index series, cash-flow basis, terminal date and NAV. No benchmark is selected or fetched by UpLevered.
Open the PME workbenchFee drag
How do fees, expenses, and carry change gross cash flows into net LP returns?
Method: Explicit dated cost overlay
Boundary: The worksheet applies only user-entered costs, credits and NAV. It does not infer fee bases, carry waterfalls, recycling or LPA terms.
Open the fee-drag workbenchCash-flow aggregation
How do multiple deal or fund cash-flow streams roll into one portfolio return?
Method: Capital-weighted pooled cash flows
Boundary: The user supplies terminal NAV and FX conversion. The workflow pools dated cash flows and never averages entity IRRs.
Open the aggregation workbenchReturn attribution scenarios
Which operating, multiple, and balance-sheet assumptions drive the change in equity value?
Method: Entry-first, exit-first or Shapley terminal bridge
Boundary: The canonical Value Bridge explains terminal equity-value change. It does not allocate additive IRR basis points or incorporate interim cash flows.
Use the canonical Value BridgeManagement equity
How do entered vesting, participation, hurdle, or strike terms change a simplified management proceeds scenario?
Method: User-selected simplified award schema
Boundary: The user selects common participation, a growth strip or a cash-settled option and flags clauses the simplified schema does not model.
Open the management-equity workbenchCovenant scenarios
How does a downside case change covenant headroom across reporting periods?
Method: User-entered maximum or minimum ratio schedule
Boundary: The user supplies agreement-defined amounts, limits and test activation. No covenant definition, threshold, cure or warning buffer is assumed.
Open the covenant-headroom workbenchNo scenario matches those filters.
02 · Reading the outputs
A number is useful only when its boundary travels with it.
Use the canonical calculator
Each result links to the definition page that explains its inputs, formula, worked example and interpretation. Use that page as the calculation record.
Recalculate from disclosed inputs
The displayed default and the interactive result use the same tested math. Change the assumptions, preserve the inputs, and avoid carrying an unexplained output into a memo.
Let methods and agreements control
PME, fee drag, management equity and covenant headroom require a named method, dated source or governing agreement. Their workbenches make those choices explicit.