One book of record,
from commitment to carry.
Fund administration, investor servicing and portfolio analytics for private equity, private debt, real assets and infrastructure. The capital account, the waterfall and the IRR are read from the books, not rebuilt in a spreadsheet for the audit.
The waterfall, shown
Every tier, with the arithmetic on the page
European whole-fund or American deal-by-deal, four standard tiers or up to twelve custom ones, with gates on DPI, TVPI, MOIC, IRR, NAV or total distributed. Clawback is previewed before an LP notice is ever sent, capped at carry net of tax.
The method note behind each run is published, and its worked example reproduces to the cent. None of the platforms in this tier publish the mechanics of theirs.
Capital calls
Allocated pro-rata, exact to the penny
Drawdowns allocate on uncalled commitment, with the rounding remainder placed so the total called is exact. Purpose is split across investment, fees and expenses, receipts are matched per investor, and notices are generated as branded PDFs.
Subsequent-close equalisation runs simple or compounded, and prints which method produced the number, beside the number.
Inside the product
The screens your team would actually live in
Captured from the public demo, running a modelled global manager: six funds, twenty-four investors, twenty-three legal entities.
What it replaces
Most managers run the fund on a general ledger that does not understand commitments, a waterfall in a spreadsheet only one person can open, an allocation model that rounds away from the amount actually called, and an LP reporting pack rebuilt by hand every quarter. Nexus Investec holds all four as one record, so a capital account, a carry number and an IRR are read from the books rather than reconstructed for the audit.
Capabilities
Waterfall & carried interest
A four-tier distribution waterfall, return of capital, preferred return, GP catch-up and residual split, European whole-fund or American deal-by-deal, with clawback capped at carry net of tax. Every run shows the arithmetic tier by tier, and is previewed before an LP notice is ever sent.
Capital calls & distributions
Drawdowns allocated pro-rata on uncalled commitment, with the rounding remainder placed so the total called is exact to the penny. Purpose split across investment, fees and expenses; receipts matched per investor; notices generated.
Assistant
Ask the book a question in plain language and get the figures with the tools it read them from. The assistant sees only what you may see, because it reads through the same API and role as you; anything it proposes to change waits for your confirmation and then follows the firm's own approval rules. It cannot approve, pay, issue or send.
Fund accounting
Double-entry books per fund on an alternative-investment chart of accounts. Nothing is a bare number: a call, a receipt, a fee, a mark and a distribution each post a balanced journal, and the trial balance is there to prove it.
NAV & capital accounts
NAV from investments at fair value plus cash and receivables, reported gross and net of accrued carry. Per-investor capital accounts that reconcile, opening, contributions, distributions, allocated income and closing.
Performance that survives audit
IRR, TVPI, DPI, RVPI and MOIC at fund and investor level. Money-weighted IRR on dated cashflows with residual value carried at the valuation date, not at the last cashflow, which is how a fund quietly reports a return it did not earn.
Management fees
The basis moves from committed to invested capital when the investment period ends, step-downs apply on their date, and offsets reduce the fee without ever creating a credit. Calculated, shown, then posted.
Deals through Investment Committee
Pipeline from origination to close with a diligence checklist created on day one. IC memos, one member one vote, quorum enforced, conflicts recorded and excluded from the count. A deal cannot reach documentation without an approved decision.
Portfolio monitoring
Revenue, EBITDA, cash and leverage per company, actual against budget, with growth and margin trend across the whole portfolio on one screen.
Credit & covenants
For private debt: facilities, margins, PIK and maturities, with leverage, interest cover, DSCR and LTV tested against the borrower's reported figures. Headroom is shown before a breach, and a breach moves the facility rather than filing a note.
Investor portal
LPs sign in to their own commitments, capital account, notices and documents, and only their own. The portal session cannot reach the manager's system at all.
Fundraising
Prospect pipeline by stage with probability-weighted totals against target, so the gap to a close is a number rather than a feeling.
Risk, scenarios and what-if
Exposure by strategy, sector, geography and vintage, with concentration tested against mandate limits. Scenarios are re-run against the current book rather than a saved copy, so a what-if on entry multiple, leverage or exit year answers with today's positions.
Attribution and benchmarks
Return decomposed into what actually produced it: revenue growth, margin, multiple expansion, leverage and FX. Fund and deal performance sit against public-market equivalent and peer benchmarks, on the same dates as the reported figures.
Liquidity and commitments
Uncalled commitment, dry powder and expected drawdowns projected against facility headroom, so a capital call is planned against what the fund can actually fund.
Investor CRM and mandates
Every LP interaction on the record: meetings, requests, side letters and the mandate terms that constrain what the fund may hold. Prospects carry stage, probability and the next action, and convert into commitments without being retyped.
Jurisdictions and compliance calendar
A register of legal entities with their ownership tree, each mapped to the rules of the jurisdiction it sits in. Filing and notification obligations become dated items with owners, so a deadline in a fund's domicile is visible before it is missed rather than after.
Approvals, policy and automation
Approval matrices with delegation of authority, multi-level routing and cover for absence. Policies are configured rather than coded, and routine steps run on rules, with the decision and any note kept against the document.
Access, roles and audit trail
Role-based access with segregation of duties, scoped to the funds and entities a person is entitled to see. Every material change is written to an immutable trail with who, when and what changed, which is what an audit asks for first.
ESG
Portfolio-company ESG metrics collected on the same cycle as financial KPIs, so the sustainability report and the board pack are built from one set of numbers rather than two.
Diligence and the IC pack
Diligence checklists, workstreams, deal teams and counterparties tracked to the Investment Committee decision. The pack is assembled from the record, so what the committee approved and what was diligenced remain the same document.
Data connectors
Portfolio financials pulled from accounting systems through validated provider connections instead of collected by spreadsheet, with data-quality checks that flag a gap or a stale period before it reaches a report.
Executive and financial analytics
AUM, dry powder, fund performance and exposure across every vehicle on one dashboard, with an explorer for ad-hoc questions and report packs that can be scheduled. Figures come from the ledger, so a dashboard and a statement cannot disagree.
Portfolio & asset management
An institutional PAM tier: a daily position roll giving current exposure and weights across every fund, time-weighted returns alongside IRR with GIPS-style composites, pre-trade mandate checks against the pro-forma book, statement reconciliation with break detection, factor-bridge attribution, commitment pacing under stress, and look-through valuation across the entity tree.
Integrated, not bolted on
Shares the ledger discipline of Nexus ERP, documents with the wider platform, and licensing with the Nexus SoftSphere control plane, one estate, one standard.
Built for the whole firm
- Front office: deal teams work the pipeline, upload diligence, submit the memo and take the IC decision in one place.
- Middle office: portfolio and credit teams monitor KPIs, marks, covenants and concentration without waiting for a pack to be built.
- Back office: fund accountants call capital, post the books, run NAV, calculate fees and carry, and close the period.
- Investor relations: commitments, notices, statements and the portal, with every LP interaction on the record.
- Executive: AUM, dry powder, fund performance and exposure across every vehicle and strategy on a single dashboard.
Every strategy, one platform
The economics differ by strategy and the system is built for that, not adapted to it.
- Private equity: buyout and growth, whole-fund waterfall, portfolio value creation and exit tracking.
- Private debt: unitranche, senior and mezzanine facilities, PIK, OID, covenant testing and borrower surveillance.
- Real estate: asset-level performance, LTV, and distributions from rental income as well as disposal.
- Infrastructure: long-dated funds, staged commitments and the reporting horizon that comes with them.
See Nexus Investec on your own fund
Bring an LPA and a capital account statement. We will show you the waterfall, the capital call and the investor report from the same numbers in a 45-minute demo.