Cash flow planning
Cash flow planning
Cash Flow (/cashflow) aggregates active plans on individual holdings into quarterly, annual, or five-year views.
Plan types
| Type | Use for |
|---|---|
| PE | Fund vehicles only — capital calls and distributions via the Takahashi-Alexander (TA) model (a.k.a. Yale model). Not for directs or single-company holdings. |
| Debt (amortising) | Loan and credit fund repayments |
| Open prompt | Plain-language schedule — e.g. “€120k farm dividend flat 3 years then +5%” |
| No prediction | Holding excluded from global forecast |
Holdings stay off the global forecast until you opt in with a plan.
PE — Takahashi-Alexander (Yale) model
The PE plan uses the Takahashi-Alexander (TA) model, also called the Yale model (Takahashi & Alexander, 2002). It applies to PE / venture fund vehicles only — not direct investments, co-invests, or single-company holdings (use Open prompt or No prediction for those).
- Remaining uncalled capital is drawn at a constant contribution rate over the investment period (call % and call years).
- NAV grows so lifetime TVPI matches the expected gross multiple.
- Distributions follow a bowed yield (later start year = more back-loaded harvest) and remaining NAV is paid out at fund term.
Set vintage, term, call %, call years, distribution start year, and expected multiple on the holding Cash flow tab.
Setting a plan
- Open a position → Cash flow tab, or ask chat to set assumptions.
- Choose plan type and parameters. For a PE/venture fund, that is the Takahashi-Alexander (TA / Yale) model — call %, call period, distribution start, and expected multiple. Directs use open prompt or no prediction.
- Return to Cash Flow to see aggregate buckets and cumulative net.
When actuals post (capital calls, dividends), the plan reconciles against reality.
If a PE or debt fund will not call more capital, use Will not call anymore on the holding (or set No further calls as of). Remaining commitment stays on the capital account; predicted capital calls stop. See Alternatives.
Chat and connected assistants
Ask chat to set a plan on a holding. Chat searches the holding, then updates the plan. An open prompt needs the schedule in plain language, for example a flat annual distribution. Ask it to regenerate forecast lines from that schedule.
A connected assistant (Claude, ChatGPT, or another MCP client) uses the same cash flow actions. Reads run live. Writes wait as a pending approval under AI Agents until you accept them. The assistant can set any plan type and can create, change, or delete individual call, distribution, and dividend forecast rows.
The tool is hidden when Cash flow is turned off under Settings → Setup → Manage Features.
Chart granularity
Toggle Quarterly, Annual, or 5 years in the page header.