Whether you're adding your first property or migrating an existing portfolio, this guide walks you through the two paths into WaterfallOne. Pick whichever matches your situation, or read both if you're bringing in a mix of new and existing deals.

Onboarding a New Asset

Starting a new deal from scratch is the fastest way to get going. You'll create the asset, add your investors, define your waterfall structure, and activate.

Watch: Creating a New Asset

A quick walkthrough of the full new-asset onboarding flow.

Here's what the flow covers:

  1. Create the asset: Click "Add Asset" from the sidebar. Give it a name, pick the asset type, and set the Economic Start Date.
  2. Add investors: Enter investors in the inline spreadsheet table using "Upload CSV", "Add 5 Rows", or "Add 10 Rows" buttons. Each investor gets a capital position tied to the asset.
  3. Define your waterfall: Choose a saved template or build one from scratch. Set your return of capital tier, preferred return, catch-up, and promote split.
  4. Review and activate: Double-check everything, then activate. Once active, your waterfall locks and you can start running distributions.

Asset Setup Fields

These fields define the asset itself. You'll fill these out in the "Asset Setup" step of the onboarding flow.

Asset Information
Asset Name Required
The display name for this investment vehicle (e.g., "Summit Ridge Apartments" or "Acme Holdings Fund III"). This is how it appears on your dashboard and in all reports.
Asset Type Required
Categorizes the asset on your dashboard. Options: Fund, Fund of Funds, Debt Fund, Single Asset, Investment Vehicle, or Other.
Location Optional
City, state, or address identifier (e.g., "Austin, TX"). Useful for organizing assets by geography. For funds with multiple properties, use the fund HQ or primary market.
Managing GP Required
The general partner entity that manages the asset and receives GP economics (catch-up and promote) through the waterfall. Select an existing entity or create a new one.
Economic Start Date Required
The date from which preferred return begins accruing. This is typically the date of the initial capital close or when invested capital was first at risk. Example: Fund closed on Jan 15, 2025 → Economic Start Date = 01/15/2025

Investor Position Fields

For each LP investor, you'll enter the following in the positions table. You can add investors manually or bulk-import via CSV.

Investor Positions (New Asset)
Investor Name Required
The legal name of the investor exactly as it should appear in distributions and reports. Each name must be unique within the asset.
Class Required
The investor class assignment (Class A, Class B, or Class C). Classes determine which waterfall tiers apply. Classes are validated against your waterfall template in the next step.
Initial Capital Required
The investor's original committed or subscribed amount for this asset. Enter the amount the investor originally committed or subscribed at their initial close. Do not include later capital calls or follow-on contributions. Example: Investor subscribed $100,000 at closing → Initial Capital = $100,000
Contribution Date Required
The date when this investor's capital contribution was received. Used to calculate time-based preferred returns from the contribution date. Cannot be after the Economic Start Date. Where to find it: subscription documents, wire transfer confirmations, or capital call records.
GP Co-Investment: The Managing GP receives GP economics (catch-up, promote) by virtue of being the GP. When a GP also contributes capital, that investment is treated as LP capital. It flows through the waterfall and receives LP economics (return of capital, preferred return, etc.) proportional to the contribution.

For a deeper walkthrough of each step, see Creating Your First Asset.

Onboarding an Existing Asset

If you have a deal that's already been running (with prior distributions, capital events, and an established waterfall), WaterfallOne handles that too. You'll follow the same creation flow but with a few extra steps to bring in your historical data.

Watch: Onboarding an Existing Asset

See how to migrate an in-flight deal into WaterfallOne with full history.

The existing-asset flow uses the same asset setup fields as new assets (Asset Name, Asset Type, Location, Managing GP, Economic Start Date), plus a few additional asset-level fields and per-investor snapshot columns.

Additional Asset-Level Fields

Existing Asset: Extra Setup Fields
Last Distribution Date Required
The date of the most recent distribution made to investors before onboarding this asset into WaterfallOne. Preferred return will accrue from this date forward. Where to find it: your distribution ledger, prior waterfall output, or bank wire records for the most recent payout. Example: Last distribution was paid June 30, 2024 → Last Distribution Date = 06/30/2024
GP Promote Paid Optional
Total promote (profit split) paid to the GP to date across all prior distributions. This is a per-investor field (promote_paid_to_date), entered for each investor in the positions table. Enter the cumulative promote paid for each investor across every distribution before migration. Where to find it: your GP carry/promote tracker or historical waterfall outputs.

Investor Snapshot Fields

For each investor, you'll enter the same core fields as a new asset (Name, Class, Initial Capital, Contribution Date) plus four snapshot columns that tell WaterfallOne where each investor stands as of migration. These numbers come from your prior waterfall outputs or distribution ledger.

Tip: Have your most recent distribution statement handy. It has the investor balances and waterfall position you'll need to enter.
Existing Asset: Investor Snapshot Columns
ROC Paid Required
Cumulative return of capital distributions for this investor. Enter the total amount of prior distributions classified as return of capital. Must be less than or equal to contributed capital. Where to find it: your historical waterfall outputs or distribution ledger where you tracked ROC by investor. Example: $100,000 contributed, $60,000 returned as ROC → ROC Paid = $60,000
Pref Paid Required
Cumulative preferred return already paid under the primary pref tier. Enter the total pref paid to this investor under the primary pref tier only (not second pref). Where to find it: prior waterfall outputs or your distribution allocation worksheet that splits by tier. Example: $12,000 previously paid toward primary pref → Pref Paid = $12,000
Unpaid Pref Required
Preferred return accrued but not yet paid as of the day before onboarding. This is the amount still owed, not what was paid. Where to find it: your prior waterfall model or accrued pref tracker (the roll-forward balance you carried between periods). Example: $16,000 accrued, $12,000 paid → Unpaid Pref = $4,000
Total Distributions Received Required
The total cumulative distributions received by this investor across all prior periods. This is its own field — enter the actual total from your distribution records. Example: Investor received $72,000 in total prior distributions → Total Distributions Received = $72,000
Using CSV import for existing assets? The existing-asset CSV template has 8 columns: Investor Name, Class, Initial Capital, Contribution Date, Total Distributions Received, ROC Paid to Date, Pref Paid to Date, and Unpaid Pref to Date. See the CSV import guide for formatting details.

What's Next

Once your asset is active, whether new or migrated, you're ready to:

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