Knowledge
A reference library for fund administrators, CFOs and anyone who works with private equity capitalisation structures.
Glossary
A reference dictionary of the terms used in private equity fund management, cap table administration and portfolio reporting.
Articles
In-depth guides to the instruments and structures that make up a PE fund's capitalisation.
How pref shares work in PE structures — coupon mechanics, cumulative vs non-cumulative, participating vs non-participating, and their role in the waterfall.
Read the guide →Why PE funds use shareholder loans alongside equity — interest accrual, day-count conventions, PIK interest and the tax advantages of debt in acquisition structures.
Read the guide →Ordinary share classes in PE — sweet equity, management ratchets, alphabet shares and how different classes interact in the equity waterfall.
Read the guide →Day-count bases (Act/360, Act/365, 30/360), simple vs compound interest, PIK mechanics and how rounding affects long-running accruals.
Read the guide →LP → GP → Fund → SPV → TopCo → HoldCo → OpCo — why each layer exists, what it does, and how ownership flows through a typical Luxembourg structure.
Read the guide →How proceeds are distributed: debt repayment, pref coupon, pref principal, then ordinary shares — with worked examples showing money multiples at each tier.
Read the guide →The best way to understand CapTab is to see your fund structure modelled in it.