2.1.2.12 Investor
In the investor section you can calculate the Equity IRR of both buyer and seller as well as the exit value of an early exit at either a given exit value, buyer’s IRR or seller’s IRR. Moreover, you can assign the equity share and shareholder loans to the seller.
To simulate an early exit, you add a new investor and thereafter chose “Exit Before Project End”. You can than chose between “Buyer’s Hurdle Rate Known”, “Exit Value Known” and “Seller’s Hurdle Rate Known”.
Depending on the selection you thereafter input the hurdle rate resp. exit value to get the desired calculation.
Serial Equity Stakes
Instead of a single constant ownership percentage, an investor's stake can change over time. Each entry defines the ownership percentage valid from its date onward; increases and (partial) sell-downs between investors are modelled as consecutive entries. Duplicate dates are not allowed.
Input Field | Description |
|---|---|
Equity Percentage | Ownership share in % valid from the entry's date. |
Date | Date from which the percentage applies. |
Transfer Price Driver | How the transfer price of a stake change is determined: Buyer Hurdle Rate, Seller Hurdle Rate, or a fixed Selling Price. |
Shareholder Loans | Shareholder loans assigned to the stake. An assigned shareholder loan belongs 100% to the stake (it is not split by percentage). |
Equity Demand – Mode
Input Field | Description |
|---|---|
Equity Mode | Automatic: the equity need is derived from the project's external financing need (less debt and shareholder loans). Manual: the equity injection is entered explicitly. |
Equity Value / Date (Manual) | Amount and date of the manual equity injection. |
Serial Injections (Manual) | Optionally several dated injections instead of a single one. |
Equity Drawdown Mode | Drawdown as Needed: equity is funded in the months it is required. Full Drawdown at Transaction (Equity First): the entire equity need is funded at the transaction date. |
Bridge Financing
Option | Description |
|---|---|
Equity | Shortfalls are covered by additional (bridge) equity. The bridge balance is repaid with priority out of subsequent distributions before regular payouts resume. |
Liquidity Gap | No additional equity is injected; the shortfall is shown as a negative liquidity position (liquidity gap). |