Timing versus multiple
What IRR does this MOIC imply at a given hold period?
- Calculation
- IRR / MOIC timing
- Details
- Formula, assumptions and worked example
Boundary: Single entry and exit only. Interim cash flows require a different cash-flow model.
Private equity calculators and worked examples
Private Equity Returns Lab
Choose a question about returns, purchase price, working capital, or fund economics. Open a calculator with a worked example, or use a guided worksheet when your analysis depends on a specific method, agreement, or source.
Choose the method before using the result.
Each calculator links to the definition, formula, and example behind its answer. Advanced worksheets identify the method and the governing inputs you need to supply.
- Live calculators
- 5
- Advanced workflows
- 6
01 · Find a calculator
Find the calculation that answers your question.
Start with five calculators in the Private Equity Glossary, each paired with a definition and worked example. For more detailed analysis, choose one of six advanced workflows with explicit method or agreement requirements.
11 scenarios shown
Interactive calculators
Start with the calculation you need.
Open a calculator to change the inputs, inspect the worked example, and read its assumptions.
Enterprise value to equity value
After debt, cash, and other claims, what equity value remains?
- Calculation
- Enterprise-to-equity bridge
- Details
- Formula, assumptions and worked example
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
- Formula, assumptions and worked example
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
- Formula, assumptions and worked example
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
- Formula, assumptions and worked example
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.
Open the worked example
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.