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Your waterfall math shouldn't keep you up at night.

Most GPs run waterfalls in spreadsheets nobody trusts, or pay for an entire fund admin suite just to get a distribution tool. WaterfallOne is a purpose-built engine. Configure it once, run it every quarter, and produce records that hold up under scrutiny.

Q4_distrib_FINAL_v7_KR_edits(2).xlsx 1 2 3 4 5 6 7 8 9 10 11 12 13 A B C D E F Investor Contrib pref % Dist Amt Notes/flags chk Smith Cap 500000 =B3*0.08 ??? check this N Opal LLC 750000 #REF! 187,312 was 192k? N Ridge Inv 250000 =B5*0.08 62,438?? WRONG? GP (20%) -- n/a =IF(D3+D truncated TOTAL 1,500,000 #REF! MISMATCH off by $4,211 // old version - DO NOT USE #VALUE! deleted? =IF(AND(C7>0,B7*0.08>C7),MIN(B7*0.08-C7,D$2*B7/B$7),MAX(0,D$2*B7/B$7-...)) =ROUND(IF(E7="Y",D7*(1-$F$1),D7),2) // "is this right?" =VLOOKUP(A3,Sheet2!$A:$F,5,FALSE) // #N/A — sheet was deleted DO NOT EDIT Only one person runs the waterfall. Ask before touching. ASSET 245 Waterfront Plaza DISTRIBUTION Operating · Mar 31, 2025 Official GROSS AMOUNT $2,400,000 − FEES ($36,000) = NET TO INVESTORS $2,364,000 ROC $1,200,000 PREF $720,000 C/U $180,000 PROMOTE $264,000 Total LP $1,891,200 80% Total GP $472,800 20% INVESTOR CLASS ROC PREF CATCH-UP PROMOTE TOTAL Meridian Capital GP GP — — $180,000 $292,800 $472,800 Oakwood Partners LLC A $360,000 $216,000 — $57,600 $633,600 Summit Ridge Capital A $240,000 $144,000 — $38,400 $422,400 Harborview Investors B $360,000 $216,000 — $57,600 $633,600 Clearfield Family Trust B $240,000 $144,000 — $38,400 $422,400 Total Distributed $1,200,000 $720,000 $180,000 $264,000 $2,364,000 Reconciled · Ready to Confirm Confirm Distribution
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No credit card required. Free forever for 1 asset.

Core Workflow

Run a distribution in seconds, not hours.

Enter your gross distribution amount, and WaterfallOne calculates every tier automatically. Return of capital, preferred return, catch-up, promote, and residual splits all flow through the waterfall in the correct order.

  • Supports standard 4-tier and custom waterfall structures
  • Per-tranche accrual with time-weighted preferred returns
  • Allocations calculated down to the individual investor
  • One-click finalization with locked audit trail
Run Distribution Fund I · Q4 2025 GROSS DISTRIBUTION AMOUNT $2,400,000.00 Run Waterfall 1. Return of Capital $1,200,000.00 2. Preferred Return (8%) $720,000.00 3. GP Catch-Up (50/50) $288,000.00 4. Residual Split (80/20) $192,000.00 Total Distributed $2,400,000.00 Ready to Finalize
Scale

Distribute across multiple assets in a single workflow.

Select up to five assets, configure each distribution, review calculated allocations, and finalize in batch. A guided four-step flow walks you through the entire process with validation at each stage.

Bulk Distribution 1 Select 2 Configure 3 Review 4 Confirm Parkview Tower $850,000 LP Allocations 42 investors · 4 tiers · Variance: $0.00 Validated ROC / Pref / Catch-Up / Residual Riverside Commons $1,200,000 LP Allocations 67 investors · 4 tiers · Variance: $0.00 Validated Oakmont Plaza $640,000 LP Allocations 28 investors · 4 tiers · Variance: $0.00 Validated 3 distributions Total: $2,690,000 137 investors Finalize All (3)
Compliance

Audit any distribution, any time.

Every finalized distribution is permanently recorded with full traceability. Drill into any historical distribution to see exactly what was calculated, when it was finalized, and who approved it.

  • Timestamped finalization records for every distribution
  • Exportable reports for external auditors and LPs
Distribution Audit Log All Funds 2024-2025 Finalized Distribution #1042 — Parkview Tower Finalized Dec 15, 2025 at 2:34 PM · by Kyle Morrison · 42 investors $850,000 Locked TIER BREAKDOWN AT FINALIZATION Return of Capital $425,000.00 Preferred Return (8%) $255,000.00 GP Catch-Up $102,000.00 Residual Split (80/20) $68,000.00 Total $850,000.00 Distribution #1041 — Riverside Commons Finalized Dec 14, 2025 at 11:15 AM · by Kyle Morrison · 67 investors $1,200,000 Locked
Under the Hood

How it calculates.

When you run a distribution, WaterfallOne processes your waterfall in a strict, repeatable sequence. Funds flow through each tier in order, with high-precision arithmetic at every step and rounding applied only at the very end.

Before any distribution is finalized, the system captures a state snapshot of every investor (unreturned capital, unpaid pref, cumulative distributions) and validates that allocation totals match the distribution amount within one cent. If the numbers don't reconcile, finalization is blocked.

CONCEPTUAL: DISTRIBUTION CALCULATION PIPELINE Gross Distribution Amount 1 Capture "before" state snapshot Unreturned capital, unpaid pref, cumulative distributions per investor 2 Run waterfall tiers in sequence Each tier computed with 20-decimal precision (Decimal.js) ROC Pref Catch-Up Residual 3 Allocate to investors (Largest Remainder Method) Per-investor amounts rounded to the penny; remainders distributed fairly 4 Validate: allocation variance ≤ $0.01 If allocations don't sum to the total within one cent, finalization is blocked 5 Capture "after" snapshot + lock record Timestamped, user-attributed, with full allocation detail stored Distribution Finalized
Investor Detail

Full visibility into investor allocations.

Drill into any investor to see their allocation across every waterfall tier. View cumulative balances, per-distribution history, and remaining unreturned capital at a glance.

Investor Detail Greenfield Capital Partners Class A · Tranche 1 · $3,200,000 committed CONTRIBUTED $3,200,000 DISTRIBUTED $1,680,000 UNRETURNED $1,520,000 PREF ACCRUED $86,400 Allocation by Tier Return of Capital $1,200,000 Preferred Return (8%) $360,000 GP Catch-Up $72,000 Residual Split $48,000 Total Distributed to Investor $1,680,000.00
Precision

Deterministic calculations, down to 20 decimal places.

WaterfallOne uses high-precision intermediate arithmetic so rounding only happens at the final step. The same inputs always produce the same outputs, making every result independently verifiable.

  • 20+ decimal places of intermediate precision
  • Results are reproducible and verifiable by third parties
Calculation Detail Run #1 — Dec 15 at 2:34 PM INTERMEDIATE VALUES pref_accrual: 0.08219178082191780822 tier2_alloc: 263,014.38356164383562 catchup_remaining: 105,205.75342465753425 final_rounded: $263,014.38 Run #2 — Dec 16 at 9:01 AM INTERMEDIATE VALUES pref_accrual: 0.08219178082191780822 tier2_alloc: 263,014.38356164383562 catchup_remaining: 105,205.75342465753425 final_rounded: $263,014.38 Exact Match Same inputs. Same outputs. Always.
Flexibility

Handle any fund structure you throw at it.

Multiple investor classes, co-invest positions, GP participation tiers. WaterfallOne supports the real-world complexity of how funds are actually structured, not a simplified version of it.

CONCEPTUAL: HOW MULTI-CLASS WATERFALLS WORK Class A LPs Class B LPs GP Co-Invest WaterfallOne Calculation Engine Return of Capital Pref Return GP Catch-Up Residual Split True-Up Class A Allocations Per-investor, per-tier Class B Allocations Per-investor, per-tier GP Allocations Participation + promote Each class runs through the same waterfall with its own terms applied independently. Diagram is conceptual. Actual product interface may differ.

Try it on your last distribution.

Free for 1 asset, no credit card. Run your last quarter through WaterfallOne and compare the numbers to your spreadsheet.

Try It Free
No credit card required. Free forever for 1 asset.