Private Credit

This is visual accounting for private equity, part of fund administration, and Carta's ERP for private capital. Your general ledger is usually a black box. Carta visual accounting transforms your geo into a live map of your capital structure. Here, we can see the entire fund at a glance.

At the center, you have the primary vehicle along with its associated feeder and blocker entities. At the top is the fund's SPV and its separate assets and investors. Drill down into a portfolio company, like Veridian Cloud Services, to audit the cost basis against current fair market value. You can trace exactly how that unrealized gain flows upstream to the master fund's net asset value.

Afterwards, verify how it impacts a specific LP's ending balance, seeing their net operating income in real time. No matter the complexity of your fund, visual accounting makes it easy to find all of your key stakeholders and entities. Understanding the economics of an LP is simple, even if they're invested through a separate entity such as a feeder fund. But the real power for a CFO is the valuations view.

This allows you to isolate specific events in your fund. Let's see the impact of a valuation change. We performed a valuation leveraging Carta's portfolio valuation solution, ran a waterfall to calculate the proceeds for this fund, and updated SOI automatically when we finalized the valuation results. As the gain is booked, Carta doesn't just update the asset value.

The waterfall you just ran is implemented directly in visual accounting. Return of capital is calculated, preferred return hurdles are cleared, and the GP catch up is accounted for. You'll see exactly how the accrued carry crystallizes on the GP balance sheet. And finally, we can even see how the remaining value increases the NAV for your limited partners.

Only Carta's connected ERP brings your ledger, valuations, and carry into one system of record.