A single, transparent reference for how Kingdom Capital calculates performance, marks fair value, manages risk and reports to investors, aligned to IPEV Guidelines, IFRS 13 fair value standards and FATF AML/KYC principles.
Each headline figure on the Track Record page is computed using the formulas below. Realised and unrealised positions are disclosed separately.
Internal Rate of Return solving NPV = 0 of dated cashflows (Σ CFₜ / (1 + IRR)^tₜ), denominated in USD, before fund level fees and carried interest.
Gross IRR adjusted for management fees, fund expenses, organisational costs and carried interest waterfall as set out in the LPA.
MOIC = (Realised + Unrealised) ÷ Invested · DPI = Distributions ÷ Paid in · RVPI = Residual NAV ÷ Paid in · TVPI = DPI + RVPI.
Running yield = Annualised cash coupon or distributions ÷ Outstanding principal or NAV at period start.
Loss ratio = (Realised + impaired principal not expected to recover) ÷ Total capital deployed, annualised through cycle since inception.
Time weighted period from first capital call to final realisation (or to current period end for active positions).
Unrealised positions are marked to fair value each quarter under IPEV Guidelines and IFRS 13, reviewed by an independent valuation provider and signed off by the Investment Committee.
Trading multiples of comparable listed peers, recent precedent transactions, DCF with a transparent WACC build, and observable credit spreads for fixed income positions. Inputs and assumptions are documented in a valuation memo per position.
Primary method is market multiples (EV/EBITDA or EV/Revenue) cross checked against DCF. A calibration to the latest transaction price is applied for 12 months post investment, then phased to market evidence.
Quarterly review by an independent valuation provider; Investment Committee sign off; annual audit by a top tier firm; material write ups or write downs (>15%) require additional documentation and IC approval.
Kingdom Capital is a Mauritius domiciled platform and applies FATF aligned AML/CFT standards consistent with FSC Mauritius requirements and global LP expectations.
All investors and ultimate beneficial owners (≥10% / control) provide certified identification, proof of address, source of funds and source of wealth declarations. Corporate investors provide certificates of incorporation, registers of directors and shareholders, and authorised signatory lists.
Names are screened against consolidated sanctions lists (UN, EU, OFAC, UK HMT), PEP databases and adverse media at onboarding and re screened continuously through a third party RegTech provider.
Each investor is risk rated (low, medium or high). Higher risk investors trigger Enhanced Due Diligence, which includes a source of wealth narrative, documentary evidence, senior officer approval and shorter review cycles.
Periodic refresh: low risk every 36 months, medium every 24, high every 12. Trigger based reviews on material change of circumstances, sanctions updates or adverse media hits.
Access to confidential materials (case studies, fact sheets, data room) is restricted to investors who self certify qualified status and pass onboarding. Gating is enforced both contractually and at the application layer.
All onboarding records, transaction logs and screening hits are retained for a minimum of 7 years post relationship end, in line with FSC Mauritius and FATF Recommendation 11.
A consistent, auditable rhythm of communication to qualified investors. All reports are delivered via the secured Investor Centre data room.
All deliverables above are provided to qualified, onboarded investors through the Investor Centre. Past performance is not indicative of future results; unrealised values are estimates subject to revision.
Full valuation, AML and reporting policy documents are released to qualified investors during onboarding and reviewed annually.
