Private equity metrics
Total Invested
Is the sum of all transactions' amount with directions
\( TOTAL\_INVESTED = \sum DRAWDOWN + \sum CARRIED\_INTEREST\_POSITIVE - \sum RECALLABLE \)
It is computed from inception to a given date.
There is a value in local currency and one in Euro.
Total disinvested
Same logic of Total Invested, but related to distributions.
\( TOTAL\_DISINVESTED = \sum DISTRIBUTION \)
Amount invested
Also referred to as "Invested at risk".
\( AMOUNT\_INVESTED = TOTAL\_INVESTED - TOTAL\_DISINVESTED \)
It cannot be negative, in case disinvested>invested then is zero by definition.
It is computed at given date.
There is a value in local currency and one in Euro: in the computation of the amount in Euro every transaction is converted with its own fx value.
Carried Interest
Is the sum of all transactions' amount with direction CARRIED_INTEREST_POSITIVE or CARRIED_INTEREST_NEGATIVE.
It is computed from inception to a given date.
Deployed Capital
Is the sum of all transactions' amount with direction
\( DEPLOYED\_CAPITAL = \sum DRAWDOWN + \sum COMMISSION + \sum CC\_COMMISSION - \sum RECALLABLE \)
NB: Normal Distributions and Carried Interest are ignored.
It is computed from inception to a given date.
There is a value in local currency and one in Euro: in the computation of the amount in Euro every transaction is converted with its own fx value.
Residual Capital (Uncommitted)
Is the amount of capital still committed, always computed from inception to a given date.
Its formula makes sense only when computed in LC:
\( RESIDUAL\_CAPITAL_{ LC}(date) = COMMITMENT_{LC} - DEPLOYED\_CAPITAL_{LC}(date) \)
There is a value in Euro, simply obtained by dividing the LC amount by the exchange rate at the given date.
\( RESIDUAL\_CAPITAL_{EUR} (date) = RESIDUAL\_CAPITAL_{LC}(date)/FX(date) \)
Therefore please note that:
\( RESIDUAL\_CAPITAL_{EUR} (date) \neq COMMITMENT_{EUR} - DEPLOYEDCAPITAL_{EUR}(date) \)