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Skill

nav-tieout

tie LP statements to fund NAV packs

Covers Reporting Finance Audit Accounting

Description

Tie an LP statement to the fund's NAV pack — recompute the LP's capital account from the NAV components and flag any line that doesn't agree. Use before LP statements are distributed.

SKILL.md

NAV tie-out

Given a generated LP statement and the period's NAV pack (via the nav MCP), independently recompute the LP's capital account and compare line by line.

The generated statement is the thing under test. The NAV pack is the source of truth.

Recompute the LP capital account

Beginning capital (prior statement ending)
  + Contributions (capital calls paid this period)
  − Distributions (cash + in-kind)
  + Allocated net income / (loss)
      = LP% × (realized + unrealized P&L − management fee − fund expenses)
  − Carried interest allocation (if crystallized this period)
Ending capital

Pull each input from the NAV pack: LP commitment %, fund-level P&L components, fee and expense totals, waterfall outputs.

Compare

For each line on the statement, compare to your recomputed value. Tolerance: 0.01. For each mismatch, note which input drives it (e.g., "allocated P&L differs — statement used 12.40% ownership, NAV pack shows 12.38% after the Q1 transfer").

Additional checks

  • Ending capital on this statement = beginning capital on next period's draft (if available).
  • Sum of all LP ending capitals = fund NAV (within rounding).
  • Commitment, unfunded, and recallable figures agree to the commitment register.

Output

A pass/fail per line, the recomputed values alongside the statement values, and a list of flags. Do not edit the statement — the publisher acts on the flags after review.

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