For limited partners

What the portal is

If you have invested in a fund whose manager runs on NAVdryx, the investor portal is where your record of that investment lives: what you have committed, what has been called, what has been distributed, where your capital account stands, and the documents and statements issued to you.

It is a read-only view of the manager’s own books rather than a separate copy kept in step. The figure you see is the figure they see, at the moment you look at it. Nothing is retyped on its way to you.

Getting access, and what you can see

Access comes from the fund manager, who invites the people at your firm who need it. There is no public sign-up, by design: an investor record is attached to named people, and only those people can open it.

What you see is scoped to your own investor record. That scoping is not a filter applied to a larger list on the way to your screen — the request itself is bounded, so another investor’s figures are never assembled in the first place. If you sit on more than one fund with the same manager, you see each of them; you never see another investor in any of them.

Three roles exist on the investor side, because the person who reads the numbers is often not the person who signs. A signatory can execute subscriptions, consents and elections. A finance contact gets the figures and the payment details without signing authority. And a member of the advisory committee sees committee material alongside their own record. See Roles and permissions.

Reading your capital account

A capital account is the running record of your economic position in a fund. It opens at your commitment and moves with each event.

• Commitment is what you agreed to invest. It is not cash you have paid; it is cash you have promised.
• Contributions are the amounts actually called and paid. Your unfunded commitment is the difference between the two.
• Distributions are amounts returned to you. Some return your own capital; some are profit. A statement distinguishes them, because the tax treatment differs.
• Allocated income and expense is your share of what the fund earned and spent, including management fees and, where applicable, carried interest.
• Ending balance is your position at the close of the period, on the basis the fund reports.

Every figure on a statement is produced from the fund’s own records by a calculation the manager can reproduce and explain. If a number surprises you, the manager can show the workpaper behind it rather than reconstruct it from memory.

What you will be asked to do

• Fund a capital call. You will receive a notice with the amount, the due date and the wire details. Verify the wire details against a channel other than the notice itself — see below.
• Provide tax documentation. A W-8 or W-9 establishes how the fund must withhold. An out-of-date form generally means withholding at the statutory rate rather than a treaty rate.
• Consent or elect. Some decisions need investor consent, and some offer a choice — whether to roll into a continuation vehicle, for instance. Both are recorded with who decided and when.

A word on payment instructions

Fraudulent capital call notices are the most common attack on private funds, and they work because a notice is easy to imitate. Wire instructions in NAVdryx are verified before they can be used and are changed under a controlled process rather than by email.

The habit that protects you is simple and worth keeping regardless of what any system promises: confirm bank details by voice, on a number you already had, before the first payment to a new account. Treat a change of account details as the highest-risk message you will receive.