PRIVATE EQUITY REAL ESTATE - COMPANION FILES
julianrsterling.com/pere

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Revised 22 September 2026.

WHAT IS IN THE ARCHIVE

1. The book's workbooks
   Waterfall_and_Promote.xlsx               Chapters 11 and 12
   Capital_Stack.xlsx                       Chapter 21
   Fund_Performance_and_LP_Diligence.xlsx   Chapters 15 and 24
   The_Spectrum_Net.xlsx                    Appendix A: 60 controls
   00_START_HERE_AppendixA.md
   (22 September 2026: verdict cells that read "ECART" or "TOUT CONCORDE" now
   read GAP and ALL AGREE. No figure changed.)

2. Blank_Model_Set/  (new)
   Waterfall_and_Promote_Blank.xlsx, Capital_Stack_Blank.xlsx,
   Fund_Performance_and_LP_Diligence_Blank.xlsx
   The same formulas with every input emptied (sensitivity ladders and the
   diligence weights are kept). The checks sheet counts the inputs still empty
   and runs the tests that hold on any fund or deal. The book's inputs are
   listed in book_inputs.txt inside this folder.

3. Working_Documents.pdf  (new)
   Four working documents on five printable pages: the manager selection
   scorecard, the LPA and fee terms review, the deal underwriting one-pager,
   and the sheet for reading a quarterly fund report. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_The_Catch_Up_At_The_Edge.xlsx    the Chapter 12 fund, losers a little worse
   Case_2_The_Gate.xlsx                    leaving an open-end fund in a queue
   Case_3_Pacing_To_A_Target.xlsx          building an allocation one vintage at a time
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
