How are Tactyc metrics calculated?

Tactyc uses the ILPA guidelines for calculation of main performance metrics such as multiples and IRR.

In certain advanced cases, where the ILPA guidelines are unclear or open to interpretation (for e.g. the treatment of recycling or dividends), we use the following methodologies.

Basic Calculations

• Realized Proceeds = Realized Exits + Realized Dividends

• Unrealized Fair Market Value = Sum of unrealized FMV of all active investments

• Total Fund Value = Realized Proceeds + Unrealized Fair Market Value + Remaining Cash

• Gross MOIC = Total Fund Value / (Total Invested Capital incl. recycled investments)

• Gross IRR is computed based on the following cashflows

  • Cash outflow = Cash into investments (incl. any recycled investments)

  • Cash inflow = Realized exits + Realized Dividends + Unrealized FMV

• Net LP IRR is computed based on the following cashflows

  • Cash outflow = LP Capital Calls

  • Cash inflow = Distributions to LPs

• DPI = Distributions to LP / Called Capital from LPs

• RVPI = Unrealized Fair Market Value attributable to LPs / Called Capital from LPs

• TVPI = DPI + RVPI

Line of Credit Impacts

I cases where is a capital credit facility in place, the DPI, RVPI and TVPI calculations also include the outstanding balance on the credit facility in the denominator.