Quarterly LP Letter
This space does one job. It assumes your books are already closed by someone else — an administrator, an accountant, a controller — and that what you are holding is a package of final numbers and a blank page.
Getting started
There is no setup form and no import format. Bring whatever you already have — last quarter's letter as a Word file, a PDF from your administrator, a folder of board decks, a note on your phone that says “Kestrel raised, Tidewater dead.” Messy is fine and partial is fine. The workspace only needs context: the agent reads what you give it, files it into the folders below, fills in the docs and sheets, and asks about whatever is missing rather than guessing.
Once your desktop opens, paste straight into the chat or drag files onto the desktop. Both work, and you can keep adding as things arrive during the quarter.
Then, roughly in this order:
- Run Learn My Letter Voice on the last letter or two you sent. It fills the Letter Style Guide with your actual voice and disclosure block, seeds Company One-Liners, and back-fills prior figures. Highest-value fifteen minutes in the space.
- Fill in Fund Snapshot. Short on purpose. The useful field is the one asking who actually reads these letters.
- Hit Portfolio Logger the day you hear something. One sentence becomes a sourced entry. This is the habit that turns letter day into letter hour.
- When the package arrives, run Log the Quarter's Numbers, then Draft the Quarterly Letter, then Pre-Send Check.
What it checks
TVPI against DPI plus RVPI. The NAV walk footing. Beginning NAV against last quarter's ending NAV. Called capital against the schedule. Every figure that appears twice in the package agreeing with itself. When something does not tie, it reports both figures with both sources and stops — it will not pick the one that looks right, and it will not wave a difference through as rounding.
What it will not do
- Calculate, produce, verify, or audit a figure
- Resolve a discrepancy inside your administrator's package
- Put a number in a letter without a source, or a write-off in a schedule without a sentence
- Send anything. Every letter is a draft for counsel and compliance to review.
If you close the books yourself
Use Fund CFO instead. That pack rolls NAV forward, marks the portfolio, reconciles capital accounts, and drafts the letter as its final step. You do not want both.
