Advanced Promote Waterfall with IRR or MOIC Milestone

Description
I've focused on making this something anyone can easily plug there data into (all on a single tab) and see the final results when toggling various inputs at the top of the sheet.

This joint venture waterfall template is a plug-and-play, single-tab model built to slot directly into any workbook that already produces annual distributable/distributed cash flows. It follows common operating agreement structures—Preferred Return → Return of Capital → IRR or MOIC hurdle → Thereafter—while adding a standout Tier 3 mechanic: cash flows are split at a defined LP/GP percentage until the LP reaches either a target IRR or a target MOIC, whichever comes first, then the final promote split applies.

Key benefits

• Fast integration: copy/paste one tab and link to your initial investment and annual cash flows.
  

• Deal-realistic economics: tier-by-tier splits and hurdle testing based on amount due to the LP, mirroring how agreements are typically written.
  

• Transparent and editable: all formulas are unhidden/unlocked, making it easy to audit, customize, and defend.
  

Key features

• Supports initial investment year + up to 10 years of annual cash flows.
  

• Configurable LP/GP contribution rates and different split percentages per tier.
  

• Five built-in sensitivity tables to stress-test IRR and MOIC inputs and quickly see how hurdle settings impact outcomes.