Equity Waterfall Calculator

Verified math. Every figure comes from one independently-tested engine (75 checks, all passing).See how I verify →

Split a deal’s profit between limited partners and the sponsor across a tiered promote. Tiers are gated by the LP’s cumulative equity multiple, so you see exactly where the promote kicks in. Updates as you type.

Capital & distribution


Tier hurdles (LP equity multiple) & splits






LP total distribution
GP promote (total)
LP equity multiple
GP share of profit
Profit over LP capital
Balance check (LP + GP)
Each tier splits cash by its LP share until the LP’s cumulative receipts reach hurdle × LP equity. Multiple-based hurdles (not IRR-timed).
Tier LP share Cash to tier LP GP

Educational tool only. Not financial, investment, tax, or legal advice. This models an equity-multiple hurdle waterfall; a deal with an IRR-based or time-weighted preferred return distributes differently. Confirm against the partnership agreement.

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