Issue a distribution

Steps

1. Draft the distribution. Choose the fund and the type — a standard cash distribution, an in-kind distribution of securities, a recallable distribution, or a tax distribution — then enter an allocation row, the investor and the amount, for each LP it applies to.
2. Review. Check the allocation rows against your own calculation, the same way you would for a capital call.
3. Approve. Recorded in the audit log with preparer, reviewer, and approver. From approval on, the Deliverables card offers the allocation schedule (xlsx), the allocations CSV, and a notice PDF for each LP. Per-LP notice packages are not yet available.
4. Issue notices, then send them. This works as it does for a capital call: “Issue notices” generates each LP’s notice PDF with its own verification code for you to review, and “Send to LPs” delivers them and emails the LPs’ contacts. A distribution email can include the portal link, the amount, the payment date, and the PDF notice. LPs see the distribution in the portal from the moment it is sent. See Issue a capital call for regenerating notices, read receipts, and corrections.
5. Pay the LPs. If you pay from the fund’s Payments tab, a payment to an LP payout account that became active in the last 72 hours can’t be released yet — see below.
6. Settle and reconcile. Confirm the outbound payment and reconcile it against the bank record.

A recallable distribution is flagged as such from the draft step forward, so the amount that could later be called back stays visible on the LP’s capital account rather than reading as a plain, final return of capital.

Payout accounts and the 72-hour hold

An LP’s payout account is a wire instruction of the kind Investor distribution, on the fund’s Wire instructions tab. Re-routing a distribution to an attacker’s account is a common fraud, so a new or changed payout account passes through three people and a waiting period:

1. Request. The new account is entered under New wire instruction and starts pending verification. Every contact of the investor is alerted, with or without a portal login.
2. Verify by call-back. Someone other than the requester calls the LP on a number that was on file before the request: the phone number of a CRM person linked to the investor, whose record was created and last changed before the request. Never use a number given in the request itself. The verifier picks the number they called under Number you called, which lists only those numbers, enters whom they spoke to, and selects Verify. If no number was on file before the request, the form says so and the change can’t be verified: reject it, and have the LP ask again once a number is on file.
3. Approve and activate. A fund manager or fund controller who is neither the requester nor the verifier approves it, with an authenticator code entered in the last ten minutes. Activation is refused without the call-back record. Every contact of the investor is alerted again.

Payments to the newly active account are then held for 72 hours. The hold runs from activation, can’t be changed once set, and has no override. The account and any payment to it show “On hold until” with the time, and a release is refused until then: the check runs again at the moment of release, and the database refuses the release as well. The LP’s own Security page lists the change and when its hold ends. Use the hold to confirm the change with the LP before any money moves.

Changing the call-back number

The call-back number is the one LPs are told to call before every payment, and to call when an email or a change looks wrong. It is shown only in the portal and the mobile app, never in an email or a PDF. The Call-back number card on the fund’s Wire instructions tab shows what LPs of the fund see: the fund’s own number if it has one, or else the organization default. With neither set, the tab warns you, and LPs are told to call their fund contact on a number they already know.

1. Propose. A fund manager or fund controller enters the number under This fund’s number or Organization default and selects Propose, or selects Clear to propose removing it, with an authenticator code entered in the last ten minutes. Call the number before you propose it. Nothing LPs see changes yet.
2. Approve. A different fund manager or fund controller calls the number, then selects Approve, also with a fresh authenticator code. The number changes, and every LP who now sees a different number gets a security alert.

Instead of approving, they can select Reject; the proposer sees Withdraw instead. For 30 days after a change, the portal shows “Changed on” and the date beside the number.

If carry is involved

A distribution that triggers carry does not get its carry split from NAVdryx’s waterfall guidance feature — that output is illustrative only. Final carry on a real distribution is calculated by your fund accountant or third-party administrator outside NAVdryx today. See Get waterfall guidance and Fees and waterfalls for why that boundary exists.