Private Equity Fund Size Step-Up Calculator for LPs
Help an LP assess whether a larger private equity or VC fund could outgrow its past strategy.
- If a private equity fund grows from $400 million to $650 million, what is the fund-size step-up in percent?
- How many times larger is the new fund than the old one?
- How much more money must the manager invest with the new fund?
Fund scaling at a glance
Estimate based on the inputs shown.
The new fund represents a 62.5% increase from the previous fund.
How it is calculated
Fund size change = (new fund size − previous fund size) ÷ previous fund size
Compare like with like. Use final fund sizes for both funds, or targets defined in the same way.
Read the result in context
A large fund-size step-up calls for more LP review. Check planned deal sizes, ownership targets and the portfolio mix. Also assess what the team can manage and the deals it can invest in.
What is a fund size step-up?
The percentage increase or decrease from one fund size to the next.
Can the result be negative?
Yes. A smaller new fund produces a negative change and is labeled as a reduction.
Should targets and final closes be compared?
Use figures that are as alike as possible. Comparing the last final fund size with an ambitious new hard cap can overstate growth.