Net IRR definition

Net IRR of a private equity fund means the Gross IRR applicable to a fund, including returns for related parties which may not pay fees or performance fees, net of management fees, certain expenses (including interest incurred or earned by the fund itself) and realized performance fees all offset to the extent of interest income, and measures returns at the fund level on amounts that, if distributed, would be paid to investors of the fund. The timing of cash flows applicable to investments, management fees and certain expenses, may be adjusted for the usage of a fund’s subscription facility. To the extent that a fund exceeds all requirements detailed within the applicable fund agreement, the estimated unrealized value is adjusted such that a percentage of up to 20.0% of the unrealized gain is allocated to the general partner of such fund, thereby reducing the balance attributable to fund investors. In addition, net IRR at the fund level will differ from that at the individual investor level as a result of, among other factors, timing of investor-level inflows and outflows. Net IRR does not represent the return to any fund investor.

Net IRR of a fund means the gross IRR applicable to all investors, including related parties which may not pay fees, net of management fees, organizational expenses, transaction costs, and certain other fund expenses (including interest incurred by the fund itself). The realized and the estimated unrealized value is adjusted such that a percentage of up to 20.0% of the unrealized gain is allocated to the general partner, thereby reducing the balance attributable to fund investors carried interest all offset to the extent of interest income, and measures returns based on amounts that, if distributed, would be paid to investors of the fund to the extent that an Apollo fund exceeds all requirements detailed within the applicable fund agreement.

Net IRR means an aggregate, annual, compound, gross internal rate of return on investments, net of taxes and carried interest on gross profit;

Examples of Net IRR in a sentence

• 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.

• The Net IRR reflected is calculated by aggregating each co-investment’s realized proceeds and unrealized value, as applicable, after management fees, expenses and Performance Revenues.

• Overall BREP International II performance reflects a 7% Realized Net IRR and a 7% Total Net IRR.

• The 8% Realized Net IRR and 8% Total Net IRR exclude investors that opted out of the Hilton investment opportunity.

• The Net IRR calculation was performed by Meketa Investment Group.

• Net IRR is further reduced by accrued and paid incentive income allocated to the general partner of the fund, which will be payable upon the distribution of each fund's capital in accordance with the terms of the relevant fund.

• The Total Credit Net IRR is the combined IRR of the credit drawdown funds presented.

• Instead of using Excess IRR as my dependent variable, I use the native Net IRR.

• Net IRR is calculated as described in footnotes (g) and (l), but is reduced by management fees and for the real estate funds other fund-level fees and expenses not adjusted for in the calculation of gross IRR.

• Net IRR and Net MOC are not calculable across the aggregate Onex Partners and ONCAP Funds.

More Definitions of Net IRR

Net IRR or ‘unlevered net IRR’ means a loan portfolio’s internal rate of return calculated using expected net core collections for the next 84 months or 120 months, as applicable, subsequent to the date of purchase of the loan portfolio adjusted regularly in line with Gross ERC.

Net IRR means the internal rate of return net of cost to collect. ‘NPL’ means non-performing loan.

Net IRR for Fund I means the gross IRR excluding the effect of uninvested cash but after the deduction of all fees and carried interest borne by investors . The Net IRR including the effect of holding excess cash is 21.1% for Fund I. Unlike other funds, Fund I at times had to hold substantial excess cash for a number of reasons including but not limited to the mechanisms of trading in the bank debt market wherein trades can take 6+ months or longer to settle. No investor cash was at risk while held by Catalyst awaiting use, such as bank trades, and therefore should be excluded so as to allow the reader to compare net returns on an "apple to apple" basis. Catalyst established lines of credit for later Catalyst Funds as to avail this issue on a go-forward basis.

Net IRR for Fund II, III, IV, and V means an aggregate, compounded annually, net internal rate of return earned by investors that includes the deduction of all fees and carried interest. Net IRRs have been calculated by assuming that the remaining interest has been sold as of the reporting date at the unrealized value.

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

Net IRR means net internal rate of return (post annual management and performance fees, but before tax).