Free private markets document generator
End-of-Life / Zombie Fund Action Memo
Create an LP action memo for an end-of-life or zombie fund covering remaining assets, fees, valuation, governance, liquidity options and next steps. Assess a mature fund's warning signs and document a practical LP resolution strategy.
What this generator covers
Inputs used by the document
- Fund status: Fund, Manager, Vintage year, Fund age, Remaining companies, Remaining NAV, Unfunded commitments
- Performance & warning signs: Fund performance, Extensions used, Current fee burden, GP team condition, Valuation observations, GP exit plan
- LP response: Conflicts, Options considered, Information required, Recommended action
01
Executive summary
Mature Fund III, managed by Legacy Fund Manager, requires an active end-of-life plan. The fund has $185m of remaining NAV and 4 of 18 original investments remaining companies.
02
Fund status
Vintage 2014; current age 13 years. Two one-year extensions used; third extension requested.
03
Performance & cash realization
1.42x TVPI, 0.88x DPI and 7.1% net IRR. Evaluate progress primarily through realizations, cash yield and credible remaining-value evidence.
04
Remaining assets
4 of 18 original investments represent $185m of reported NAV. Require asset-level operating, valuation and exit analysis.
05
Warning signs
Two original partners departed; remaining team has limited new-fund prospects
06
Fees & expenses
$4.5m annual management fee plus fund expenses
07
Valuation review
Two assets have been held at unchanged marks for five quarters
08
Exit plan & timeline
Staged sales over 24-36 months; no asset-specific milestones supplied
09
Liquidity obligations
Unfunded commitments are $12m. Reserve for follow-ons only where they protect or enhance realizable value.
10
Conflicts & governance
Fee incentives may favor extension; proposed continuation process uses a GP affiliate
11
Resolution options
Conditional extension, LP-led secondary, structured liquidity, asset sale or wind-down oversight
12
Required information & actions
Independent valuations, asset-level exit plans, fee budget, cash forecast and conflict disclosures
13
Recommendation
Support a six-month conditional extension with fee step-down, monthly milestones and parallel secondary price discovery
How to use this document generator
Review the example assumptions, replace them with information from your own investment process, and check every statement against the governing documents and source data. The interactive version updates the draft immediately and can export it to Word or PDF without a login.
Template transparency
Draft status
This template creates an editable first draft. Review every statement against source data and governing documents.
Privacy and export
Inputs stay in your browser. Word and PDF exports are created locally and this page does not store your document.
Scope
This is a practical starting point, not legal, tax, or investment advice.
Template 1.0 · Reviewed 13 August 2026