VistaOne LP
10/28/2025 | Press release | Distributed by Public on 10/28/2025 13:44
Net Asset Value (Form 8-K)
Net Asset Value
VistaOne, L.P. (the "Fund") calculates net asset value by deducting all accrued fees, expenses and other liabilities of the Fund from the fair value of investments, determined in accordance with valuation policies and procedures approved by the Fund's General Partner, and other assets and receivables held by the Fund. The Fund's transactional net asset value ("Transactional NAV") is calculated for purposes of establishing the price at which subscriptions and repurchases of the Fund's limited partnership units (the "Units") are made. Transactional NAV per Unit differs from the Fund's net asset value per Unit for financial reporting purposes as determined in accordance with accounting principles generally accepted in the United States of America ("GAAP NAV").
The following table provides details of the major components of the Fund's Transactional NAV as of September 30, 2025(1):
|
Components of Transactional NAV |
|||
|
Investments at fair value (cost of $673,417) |
$ |
787,134 |
|
|
Cash and cash equivalents |
204,669 |
||
|
Other assets |
922 |
||
|
Other liabilities(2) |
- |
||
|
Accrued performance participation allocation |
(17,407) |
||
|
Accrued servicing fees(3) |
(439) |
||
|
Management fee payable(4) |
- |
||
|
Transactional NAV |
$ |
974,879 |
|
|
Number of Units outstanding |
33,070,958 |
||
(1)
Dollars in thousands.
(2)
Pursuant to an expense support agreement with VEPF Management, L.P. (the "Manager"), organizational, offering and certain operating fund expenses advanced on the Fund's behalf by the Manager are recognized as a reduction to Transactional NAV, ratably over 60-months, beginning on April 1, 2026.
(3)
Servicing fees are charged to Class A-B, Class A-D, Class A-S, Class B, Class D and Class S Units. Servicing fees are recognized as a reduction to Transactional NAV on a monthly basis as such fees are accrued. For GAAP NAV, the Fund's cost of unitholder servicing fees are accrued for the estimated life of the Units as an offering cost at the time the Class A-B, Class A-D, Class A-S, Class B, Class D and Class S Units are sold.
(4)
As of September 30, 2025, there was no management fee accrual as the Manager waived management fees for the first six months following commencement of operations, which occurred on April 1, 2025.
The following table provides details of Transactional NAV and the Transactional NAV per Unit by class as of September 30, 2025:
|
Class A-B Units |
Class A-D Units |
Class A-I Units |
Class A-S Units |
Class E Units |
Total |
||||||||||||||||||
|
Transactional NAV(1) |
$ |
204,061 |
$ |
23,155 |
$ |
525,559 |
$ |
209,708 |
$ |
12,396 |
$ |
974,879 |
|||||||||||
|
Number of outstanding Units |
6,932,527 |
785,642 |
17,810,044 |
7,136,890 |
405,855 |
33,070,958 |
|||||||||||||||||
|
Transactional NAV per Unit |
$ |
29.44 |
$ |
29.47 |
$ |
29.51 |
$ |
29.38 |
$ |
30.54 |
|||||||||||||
(1)
Dollars in thousands.
1
Reconciliation of GAAP NAV to Transactional NAV
The following table reconciles the Fund's GAAP NAV to Transactional NAV as of September 30, 2025(1):
|
GAAP NAV |
$ |
945,179 |
|
|
Adjustments: |
|||
|
Organizational, offering and other fund expenses(2) |
16,320 |
||
|
Accrued servicing fees(3) |
13,380 |
||
|
Deferred tax liabilities of certain taxable intermediate entities(4) |
- |
||
|
Transactional NAV |
$ |
974,879 |
(1)
Dollars in thousands.
(2)
Represents an adjustment to reflect the recognition of organizational, offering and other fund expenses ratably over the 60-month reimbursement period beginning on April 1, 2026.
(3)
Represents a reduction to reflect servicing fees related to Class A-B, Class A-D and Class A-S Units as they are accrued for on a monthly basis.
(4)
The Fund currently does not have any tax liabilities of certain taxable intermediate entities through which the Fund holds portfolio companies that are contingent upon the expected manner of divestment of the associated underlying portfolio company and are not reasonably expected to be recognized by the Fund.
2
VistaOne LP published this content on October 28, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on October 28, 2025 at 19:44 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]