Glossary
Promote
In real estate, the sponsor's share of profits above its pro-rata equity share, earned once investors reach specified return hurdles — the real estate equivalent of carried interest.
In practice
Promotes often have several tiers keyed to IRR or equity multiple hurdles, and are calculated per deal or per fund.
In FUN/D
FUN/D models multi-tier promotes per deal; see the worked example in our promote guide.
Related: Carried interest · Hurdle rate · Distribution waterfall · full glossary
See how FUN/D handles this on your fund.
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