Limited partner checklist
What information should an LP track?
A compact LP record should show the position, the cash, the constraints, and the evidence.
Core checklist
- Commitment, contributed capital, and investment date
- Units or ownership percentage
- Current stated value, date, method, and source
- Cumulative and latest distributions
- Management, performance, transaction, and indirect fees
- Fund or asset-level debt where disclosed
- Lockup, transfer, redemption, maturity, and exit terms
- Latest sponsor update and financial statement dates
Separate fact from interpretation
Keep statements supplied by the manager distinct from calculations you make. Mark missing or contradictory information rather than smoothing it away.