# The Fund Formation Handbook: companion files

Julian R. Sterling

## What is here

- **Fund_Formation_Model.xlsx**: the workbook that rebuilds the Harrow Peak case and reproduces the figures of the book with live formulas. Sheets: Read Me, Inputs, Launch Budget, Fees, Manco P&L, Equalization, Waterfall Summary, Checks.
- **Fund_Formation_Checklist.docx**: the formation checklist and timeline of Appendix B, in editable form, to tick off on your own launch.

## Which sheet answers which chapter

- Chapters 3 and 13: Inputs (commitments by close and by vehicle)
- Chapter 5: Fees (annual fee in the investment period, fee-paying commitments)
- Chapter 6: Waterfall Summary (illustrative carry on a 2.4x gross assumption)
- Chapter 8: Launch Budget (organizational expenses, the cap and the excess)
- Chapter 14: Equalization (contribution, interest by call, fee catch-up, vehicle rebalancing)
- Chapter 15: Fees and Manco P&L (ten years, Fund I only or with Fund II)

## Two switches to change first

1. On Inputs, set the Fund II switch to 1: the management company's cumulative result at the end of 2035 moves from minus 6.26 to plus 50.56 ($ million). Reset it to 0 (the Checks sheet assumes Fund I only).
2. On Inputs, move the second close date by three months, or change the equalization interest rate: the interest, the fee catch-up and the total due from second-close investors move with it.

Blue type on a light blue background is an input, black type a formula. No macro, no circular reference, no external link. The Checks sheet should read ALL CHECKS OK on the default inputs.

Harrow Peak, its funds, investors, service providers and portfolio companies are fictional; all case figures are illustrative assumptions, not market data or forecasts. Provided as is, without warranty. Not legal, tax, accounting or investment advice.