- Does creating a distribution send money or notify investors?
- No. Creating a distribution saves it as a draft only. No notices are sent and no payments are made until you finalize the distribution, which is a separate step you take from the distribution's detail page when you're ready. Sending investor notices beforehand is optional — you can finalize a draft without sending them.
- Why didn't my allocations update when I changed a hurdle?
- Changing a hurdle's total amount or GP promote value updates the calculated allocations live. But adding, removing, or changing a hurdle type clears the calculated allocations so they can't be out of date — select Calculate Pro Rata again after any structural change to recompute them.
- Why does Calculate Pro Rata return an error?
- Pro rata needs something to allocate against. If every eligible position has zero ownership — no ownership percentage, no units, and no invested or committed amount — the calculation fails and no allocations are saved. Check the holding's positions and share classes, then try again.
- Can I override the amount for an individual investor?
- Yes. Expand the investor's row to edit the gross amount per hurdle, set tax withholding, and add adjustments with a reason. Your manual edits are kept unless you run Calculate Pro Rata again, which overwrites them with fresh pro-rata values.
- Why is there no tax withholding field on Return of Capital?
- Return of Capital is treated as tax-free, so the expanded hurdle panel doesn't show a tax withholding field for it and its withholding stays at zero. Other hurdle types let you set withholding as a flat amount or a percentage.
- Where do investors see a hurdle's label?
- In the distribution notice they receive and in their own per-hurdle breakdown, next to the amounts. The distribution's detail breakdown shows the same labels, so you can check the wording there before you finalize.
- How do I get a hurdle's default label back?
- Clear the label on that hurdle row and it returns to the default for its type. On a debt holding that means Interest or Return of Principal — never the equity wording.
- I renamed a hurdle and my wording disappeared. Why?
- Changing a row's hurdle type resets its label to the new type's default; a rename doesn't carry across a type change. Enter your wording again after switching the type.
- What is the Remaining Funds (GP) row in the GP Promote section?
- It's the part of the promote that isn't assigned to a named promote participant — including the whole promote when the holding has no participants configured. You choose which of the holding's bank accounts receives it. The row always appears after the named participants and can't be removed.
- Does removing a promote participant change my holding's promote setup?
- No. Removing a named promote transfer applies to that distribution only. Your holding and share class promote allocation stay as they are, the removed amount isn't reassigned to another participant or added to Remaining Funds (GP), and the removal is preserved when you save, reload, recalculate, or finalize.
- What is the Source of Funds for?
- It records whether the distribution comes from operating cash flow or a capital event such as a sale or refinance, and that reason is included in investor notices and statements so investors can tell operating income from capital event proceeds.
- Do I have to pay investors through Covercy?
- No. Each allocation can be paid through Covercy or recorded as paid outside Covercy, and you can mix both within one distribution. You can save a draft without finishing payment setup; paying out is covered under Banking & payments.
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