Gross IRR definition

Gross IRR means an aggregate, annual, compound, gross internal rate of return on investments. Gross IRR does not reflect expenses to be borne by the relevant investment vehicle or its investors including, without limitation, carried interest, management fees, taxes and organisational, partnership or transaction expenses;

Gross IRR means an aggregate, compound, annual, gross internal rate of return on investments which do not reflect any management fees, taxes, transaction costs and other expenses to be borne by certain and/or all investors, which will reduce returns and, in the aggregate, may be substantial. “Gross IRR” reflects Underlying Partnership management fees, “carried interest,” taxes, transaction costs and other expenses borne at the investment level (e.g., such Underlying Partnership’s expenses and fees). IRR may have been impacted by the use of subscription-backed credit facilities. Returns are calculated using actual cash flows and actual distributions received and, on the assumption, that the respective investments are liquidated at the managers’ reported values as of September 30, 2020. Gross IRR is calculated by aggregating the actual capital contributions to and distributions from investments based upon their respective dates and presuming that the unrealized investments are liquidated based upon their respective September 30, 2020 net asset values.

Gross IRR means an aggregate, compound, annual gross internal rate of return on investment. “Gross IRRs” and “Gross MIC” do not reflect the management fees, carried interest, taxes, transaction costs in connection with the disposition of unrealized investments and other expenses to be borne by investors in New Mountain funds, which will reduce returns and in the aggregate are expected to be substantial. For a description of such fees, carried interest and expenses, please see the private placement memorandum of the applicable Fund and Part 2A of Form ADV. In the case of portfolios of realized and unrealized investments, the “Gross IRRs” and “Gross MIC” are based on realizations and internal valuations of New Mountain as of the applicable date. “Net” IRRs and “Net MIC” reflect all management fees, carried interest, transaction costs, and other expenses (other than taxes) borne or to be borne by investors. Net performance figures represent a full fee paying limited partner of each stated Fund and exclude the general partner. A full fee paying limited partner may not be subject to certain investor specific fees and expenses that do not impact the full fund and relate to agreements between the General Partner and a specific investor (such as investor specific placement fees.

Examples of Gross IRR in a sentence

• Gross IRR reflects returns to the fee-paying limited partners and, if applicable, excludes interests attributable to the non-fee paying limited partners and/or the general partner which does not pay management fees or carried interest.

• Given these costs, fees and expenses are in aggregate expected to be considerable, Net MOIC and Net IRR will be materially less than the Gross MOIC and Gross IRR.

• Gross IRR is reported at the fund-level and is the same as the Net IRR, but excludes the fund-level management fees and carried interest.

• Calculations of Gross IRR at the investment level use the date of the relevant investment without regard to whether the investment was initially funded by investor contributions or by borrowings under a revolving credit facility to be subsequently repaid with investor contributions.

• Fund Gross IRR is an annualized realized and unrealized return to fund investors gross of management fees and carried interest.

More Definitions of Gross IRR

Gross IRR means an aggregate, compound, annual gross internal rate of return on investment. “Gross IRRs” do not reflect the management fees, carried interest, taxes, transaction costs in connection with the disposition of unrealized investments and other expenses to be borne by investors in New Mountain funds, which will reduce returns and in the aggregate are expected to be substantial. For a description of such fees, carried interest, and expenses, please see the private placement memorandum of the applicable Fund and Part 2A of Form ADV. In the case of portfolios of realized and unrealized investments, the “Gross IRRs” are based on realizations and internal valuations of New Mountain as of the applicable date. “Net” IRRs reflect all management fees, carried interest, transaction costs, and other expenses (other than taxes borne or to be borne by investors).

Gross IRR means the gross internal rate of return generated from an investment before consideration of management fees and expenses and is calculated based on an investment's realized amounts and unrealized amounts (cash distributions) and actual cash outflows made in respect of an investment, with timing based on when such distributions occurred or are likely to occur. It is then calculated by determining the annualized discount rate that will bring all cash outflows and distributions (realized and unrealized) to a net present value of zero. In management’s view, Gross IRR provides the most accurate depiction of the cash flow yield profile of a loan or portfolio. Gross IRR is not a measure of financial performance (nor does it have a standardized meaning) under IFRS. In evaluating this measure, investors should consider that the methodology applied in calculating this measure might differ among companies and analysts.

Gross IRR means an internal rate of return that is calculated gross of all fees, expenses, and performance-based compensation borne by the private fund.

Gross IRR means an aggregate, compound, annual gross internal rate of return on investment. “Gross IRRs” do not reflect the management fees, carried interest, taxes, transaction costs in connection with the disposition of unrealized investments and other expenses to be borne by investors in New Mountain funds, which will reduce returns and in the aggregate are expected to be substantial. In the case of portfolios of realized and unrealized investments, the “Gross IRRs” are based on realizations and internal valuations of New Mountain as of the applicable date. For presentation purposes, only gross IRRs are shown here. See page 29 for side by side depiction of gross and net IRRs and multiples. Past performance is no indication of future performance and is not guaranteed. There can be no assurance that stated targets will be met.

Gross IRR means an aggregate, annual, compound, gross internal rate of return on investments. In the case of portfolios of realized and unrealized investments, the Gross IRRs are based on realizations and internal valuations as of the applicable date. Gross IRR is calculated based on the actual timing of investments, distributions, realized proceeds and remaining fair value for each of the investments. Transaction-specific Gross IRRs and composite Gross IRRs are calculated using internal valuations and on the basis of actual timing of portfolio company inflows and outflows through the valuation date, aggregated monthly, and the return is annualized.

Gross IRR means the gross internal rate of return (pre-annual management fee, performance fees, taxes and expenses).

Gross IRR means the gross internal rate of return generated from a loan before consideration of management fees and expenses and is calculated based on a loan’s Realized Amounts and Unrealized Amounts (cash distributions) and actual cash outflows made in respect of a loan, with timing based on when such distributions occurred or are likely to occur. It is then calculated by determining the discount rate that will bring all cash distributions (realized and unrealized) to a net present value of zero.