Calculate Paid-In Capital to Commitment
- Pamela Totas (Deactivated)
The Paid-In Capital (PIC) multiple is the ratio of the total capital invested by limited partners to the Committed Capital for that limited partner.
Paid in Capital to Commitment (PIC) Formula
The formula for the PIC Multiple:
Paid-in-Capital: Total money called in (contributed) from Limited Partners to a Fund
Committed Capital: The total amount of money agreed upon by a partner to invest in the fund within a time period.
Inputs
There are two inputs for the calculation of the Paid-In Capital ratio.
Paid-In Capital (sum of contributions)
Total of all paid-in cash flows for the LP investment throughout the date range of the Money Multiple field attribute.Â
Committed Amount
The total amount agreed upon by a partner to invest in the fund within a period of time.
Begin Date
The first date of the time range and the first date cash flows are eligible to be included in the calculation.
End Date
The last date of the time range and the last date cash flows are eligible to be included in the calculation. This is also the date used in fetching the committed capital amount.
PIC Example
Effective Date | Transaction Type | Flow Amount |
July 12, 2022 | LPCALL | Â Â Â Â Â Â Â Â Â Â Â Â $30,000,000.00 |
October 12, 2022 | LPCALL | Â Â Â Â Â Â Â Â Â Â Â Â Â $18,000,000.00 |
 | Committed capital |              $50,000,000.00 |
 |  PIC |  0.96 |
LPCALL is the transaction type in the CASHDBO.CASH_ACTIVITY table for contributions called in by the Fund. This example divides the sum of contributions $48,000,000 by the Committed Capital of $50,000,000. The result is a PIC=.96.
Eagle Performance Money Multiple Fields    Â
You can find the Paid-In Capital to Commitment multiple option on Money Multiple fields. Money Multiple fields are located in General Reporting in the Custom fields folder. After creating a Money Multiple field, you can select Money Multiple Paid-In in Capital.
The Money Multiple Field type is also available in Metadata Center. You can find Money Multiple fields under Direct and Derived fields and setting the Field Type Parameter to Money Multiple.
About the KS PME Multiple Fields
The Money Multiple Field Type is a Performance Calculation based field and the result can be committed to the Performance database for downstream analysis. It is designed to utilize data from the CASHDBO.CASH_ACTIVITY table and HOLDINGDBO.POSITION_DETAIL table. Money Multiple fields offer the unique capability to sum cash flows across a time range.Â
Contributions
Cash Flows across a date range
You can select the cash flows using the Cash Adjustment field logic to identify flows that meet the specific criteria for Private Equity contributions.
Cash Adjustment fields use security reference data as well as cash transaction details to select the correct flows. In this example, the Cash Adjustment field is selecting Capital Base Fund Investments which are Private Equity Investments and transaction types equal to LPCALL to define contributions to LPs.
Committed Capital
The PIC field requires a Committed Capital Amount.  PIC fields use Detail Calculation fields to define the security criteria and the field in POSITION_DETAIL table where the committed capital is stored. The committed capital is fetched using the report results end date. Here is an example of the Detail Calculation field and the embedded ORIG_FACE holdings field.
Define the Date Range
Begin Date
You can define the begin date by selecting a specific date or using the date macros provided in the Begin Date options. For Performance Composites (ACOM) the inception date is the most recent date of the membership Start Date or the Inception Date within the member’s range. For Reporting Composites (COMP) the Inception Date is simply the member inception date for those who are members as of the report's end effective date.
End Date
The field’s end date is directly taken from the end date of the calculation report period.
Build Money Multiple Fields
Money Multiple fields are designed for Performance Calculation reports. Select them from the Custom folder when creating or editing a field rule in General Reporting.
Add to a Report and Field Rule
All Money Multiple fields in a Field Rule must have the same begin date. If not, the report will result in an error and null values in the report results.
Options for Setting Up the PIC Field
Here is an example of the PIC field and the other field’s options when creating.
Field Options
Field | Description |
Money Multiple | Select the Money Multiple from this dropdown to Calculate ( Residual Value to Paid in Capital) |
Distribution Cash Flow | Select the Cash Adjustment field which defines a Fund Distribution to Limited Partner |
Contribution Cash Flow | Selected the Cash Adjustment field which defines a called contribution by the Limited Partner into the Fund |
End Market Value | Select the Detail Calculation field which defines the market value and security criteria for Ending Market Value |
Committed Capital (Only for PIC) | Select the Detail Calculation field which defines the security criteria for Private Equities and the holdings field where the committed amount is stored |
Begin Date options | Defines the first date that cash flows will be included in the calculation |
Include Above Fields in Results | When selected the supporting fields and their results are displayed in report results |
View the Results
PIC field results show up in the security rows for the securities which have cash flows and commit values that meet the criteria of the Cash Adjustment and/or Detail Calculation fields selected. The security criteria should be the same in both input fields.Â
Along with the PIC field the report results can also display the supporting fields Contributions Cash Flow (CCF) and Committed Capital (CCAP) in the results. To remove the supporting fields from the results do not select the Display Above Fields in Results. In this example, PIC ITD is the resulting PIC value, PIC ITD CCF is the summed contributions, and PIC ITD CCAP is the committed capital for the relevant securities.Â
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