Alder Health Partners
Alder Health Partners
Total Invested
$4,000,000
S
FMV
$6,200,000
as of Sep 30, 2026
S
Unrealized P&L
$2,200,000
C
Lifetime ROI
15.5%
C
Capital Stack Breakdown
| Component | Amount | Tag |
|---|---|---|
| Initial Investment Components | ||
| Initial Cash | $4,000,000 | S |
| = Initial Investment | $4,000,000 | C |
| Capital Activity | ||
| = Total Invested Capital | $4,000,000 | C |
| Hale Share (100.0%) | $4,000,000 | C |
Scope
One investment row (#1016) — no sibling rows carry this deal name.
Workbook ledger through Oct 1, 2026, QBO after it.
Only postings in a distribution or capital-deployment account appear; ordinary GL activity does not.
Contributions
$-4,000,000
1 postings · capital contribution + loan
Distributions
$621,495
operations + capital + synd
Cash In / Out
$621,495 / $-4,000,000
by sign, ignoring the bucket
Net
$-3,378,505
10 postings
✓ Foots to the Total Returns KPI — the rows below add to
$621,495. Both figures count the same postings, so this
checks the itemisation —
nothing dropped, nothing counted twice — not the figure itself.
| Date | Ledger | Bucket | Category | Type | Num | Payee | Memo | Class | Entity | Inv # | Amount |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 07/15/2026 | Workbook | Operations | Distribution - Regular | Deposit | 28644 | Alder Health | Q2 2026 dividend | NWLP | Northwind Family LP | 1016 | $62,872 |
| 04/15/2026 | Workbook | Operations | Distribution - Regular | Deposit | 35490 | Alder Health | Q1 2026 dividend | NWLP | Northwind Family LP | 1016 | $78,628 |
| 01/15/2026 | Workbook | Operations | Distribution - Regular | Deposit | 10813 | Alder Health | Q4 2025 dividend | NWLP | Northwind Family LP | 1016 | $79,047 |
| 10/15/2025 | Workbook | Operations | Distribution - Regular | Deposit | 47477 | Alder Health | Q3 2025 dividend | NWLP | Northwind Family LP | 1016 | $61,926 |
| 07/15/2025 | Workbook | Operations | Distribution - Regular | Deposit | 55323 | Alder Health | Q2 2025 dividend | NWLP | Northwind Family LP | 1016 | $62,536 |
| 04/15/2025 | Workbook | Operations | Distribution - Regular | Deposit | 44640 | Alder Health | Q1 2025 dividend | NWLP | Northwind Family LP | 1016 | $64,260 |
| 01/15/2025 | Workbook | Operations | Distribution - Regular | Deposit | 78071 | Alder Health | Q4 2024 dividend | NWLP | Northwind Family LP | 1016 | $60,051 |
| 10/15/2024 | Workbook | Operations | Distribution - Regular | Deposit | 20145 | Alder Health | Q3 2024 dividend | NWLP | Northwind Family LP | 1016 | $82,937 |
| 07/15/2024 | Workbook | Operations | Distribution - Regular | Deposit | 76449 | Alder Health | Q2 2024 dividend | NWLP | Northwind Family LP | 1016 | $69,238 |
| 03/18/2021 | Workbook | Investments | Capital Contribution | Check | 16784 | Alder Health | Initial investment | NWLP | Northwind Family LP | 1016 | $-4,000,000 |
| Total (10 postings) | $-3,378,505 | ||||||||||
Ownership Metrics
| % of Deal Owned by Legal Entity | 100.0% |
| Ownership % per OA | 100.0% |
| Best Available Ownership % | 100.0% |
| Effective Deal Ownership % | 100.0% |
| % of Investor Owned by Hale | 100.0% |
| % of Deal Owned by Hale | 100.0% |
Entity Chain (1 tiers)
Tier 1
Northwind Family LP
Ownership
100.0%
⏳ Pending — manager-announced, not yet posted in QB
$120,000 across 1
| Pay date | Category | Amount | Method | Recipient | Memo | Status |
|---|---|---|---|---|---|---|
| 2026-10-18 | Distribution - Regular Q4 2026 distribution |
$120,000 | Wire | Northwind Family LP | Per manager notice of 2026-09-18 | announced |
Confirmed returns (QB)
$621,495
Pending (announced)
+$120,000
Total incl. pending
$741,495
ROI incl. pending
18.5%
Pending amounts count toward returns now and flip to confirmed automatically once the matching cash posts in QB. Manage in the Distribution Tracker →
Total Returns
$621,495
+$120,000 pending
click for detail
Capital
—
click for detail
Operations
$621,495
click for detail
ROI
15.5%
18.5% incl. pending
click for detail
Ann. ROI
2.6%
3.1% incl. pending
click for detail
IRR
10.3%
10.7% incl. pending
click for detail
Eq. Multiple
1.16x
1.19x incl. pending
click for detail
# Distributions
9
+1 pending
click for detail
Total Returns — Backup Calculation
| Capital Returns | $0 |
| Operations Returns | $621,495 |
| = Total Returns (Capital + Operations) | $621,495 |
Sum of all Capital-type and Operations-type distributions received.
Capital Returns — Backup
| = Total Capital Returns | $0 |
Loan repayments, return of capital, sale proceeds.
Operations Returns — Backup
| 07/15/2026 | $62,872 |
| 04/15/2026 | $78,628 |
| 01/15/2026 | $79,047 |
| 10/15/2025 | $61,926 |
| 07/15/2025 | $62,536 |
| 04/15/2025 | $64,260 |
| 01/15/2025 | $60,051 |
| 10/15/2024 | $82,937 |
| 07/15/2024 | $69,238 |
| = Total Operations Returns | $621,495 |
Income distributions, interest, dividends.
ROI — Backup Calculation
| Total Returns | $621,495 |
| Invested Basis | $4,000,000 |
| = Lifetime ROI | 15.5% |
Formula: Total Returns ÷ Invested Basis
Branch taken: Denominator is the imported Excel value (col 85, xlsx_total_invested_capital), not the component sum.
Returns as a share of capital at risk. This is a simple ratio, not time-weighted — see IRR for the time-weighted view.
Source:
services/distribution_service.py → compute_roi()
Annualized ROI — Backup Calculation
| Lifetime ROI | 15.5% |
| Holding Period | 5.56 yrs |
| = Annualized ROI | 2.6% |
Formula: (1 + Lifetime ROI) ^ (1 ÷ Holding Period) − 1
Compound annual rate, not ROI ÷ years. A total loss annualises to −100% however long it was held; a growth factor below zero has no real root, so the metric is left blank rather than shown as a complex number.
Source:
services/distribution_service.py → compute_annualized_roi()
IRR (XIRR) — Backup Calculation
| Initial Investment (03/18/2021) | -$4,000,000 |
| Operations — 07/15/2026 | $62,872 |
| Operations — 04/15/2026 | $78,628 |
| Operations — 01/15/2026 | $79,047 |
| Operations — 10/15/2025 | $61,926 |
| Operations — 07/15/2025 | $62,536 |
| Operations — 04/15/2025 | $64,260 |
| Operations — 01/15/2025 | $60,051 |
| Operations — 10/15/2024 | $82,937 |
| Operations — 07/15/2024 | $69,238 |
| Terminal Value (FMV or Invested, today) | $6,200,000 |
| = XIRR | 10.3% |
XIRR computed using mid-month (15th) assumption for distribution dates. Red = outflows, green = inflows.
Equity Multiple — Backup Calculation
| Total Returns | $621,495 |
| Initial Investment | $4,000,000 |
| = Equity Multiple | 1.16x |
Formula: (Total Returns + Initial Investment) ÷ Initial Investment
Note the denominator is INITIAL investment, not the invested basis ROI uses — the two metrics deliberately divide by different figures, so they will not reconcile to each other on rows where the two differ.
Source:
services/distribution_service.py → compute_equity_multiple()
Distribution Count — Breakdown
| Capital Distributions | 0 |
| Operations Distributions | 9 |
| Other | 0 |
| = Total Count | 9 |
| Avg per Distribution | $69,055 |
Cumulative Distributions Over Time
Distribution Summary by Date Received
| Year | Month | # Distributions | Total Amount | Types |
|---|---|---|---|---|
| 2026 | 4 | $340,546 (incl. $120,000 pending) | ||
| Oct 2026 | 1 | $120,000 | Distribution - Regular · pending (not yet cleared) | |
| Jul 2026 | 1 | $62,872 | Operations | |
| Apr 2026 | 1 | $78,628 | Operations | |
| Jan 2026 | 1 | $79,047 | Operations | |
| 2025 | 4 | $248,773 | ||
| Oct 2025 | 1 | $61,926 | Operations | |
| Jul 2025 | 1 | $62,536 | Operations | |
| Apr 2025 | 1 | $64,260 | Operations | |
| Jan 2025 | 1 | $60,051 | Operations | |
| 2024 | 2 | $152,175 | ||
| Oct 2024 | 1 | $82,937 | Operations | |
| Jul 2024 | 1 | $69,238 | Operations | |
| TOTAL | 10 | $741,495 (incl. $120,000 pending) | ||
Complete Distribution History
| Date Received | Period | Type | Amount | Notes |
|---|---|---|---|---|
| 10/18/2026 | 2026-10 | Distribution - Regular · pending | $120,000 | Per manager notice of 2026-09-18 — announced, not yet cleared |
| 07/15/2026 | 2026-07 | Operations | $62,872 | |
| 04/15/2026 | 2026-04 | Operations | $78,628 | |
| 01/15/2026 | 2026-01 | Operations | $79,047 | |
| 10/15/2025 | 2025-10 | Operations | $61,926 | |
| 07/15/2025 | 2025-07 | Operations | $62,536 | |
| 04/15/2025 | 2025-04 | Operations | $64,260 | |
| 01/15/2025 | 2025-01 | Operations | $60,051 | |
| 10/15/2024 | 2024-10 | Operations | $82,937 | |
| 07/15/2024 | 2024-07 | Operations | $69,238 | |
| TOTAL | $741,495 (incl. $120,000 pending) | |||
Performance History
| As Of Date | Total Returns | Lifetime ROI | Annualized ROI | IRR | Equity Multiple |
|---|---|---|---|---|---|
| Historic snapshots, last written Sep 30, 2026 — not the live figures shown above. Some early rows carry values that were never right; they are kept as a record of what was reported at the time. | |||||
| 09/30/2026 | $621,495 | 15.5% | 2.6% | 10.1% | 1.71x |
Sections
38/64
answered · 59.4%
Deal Info
22/23 answered
| DEAL ID | 19/20 | |
| Investment # (column) | 1,016 | |
| Date of Investment (column) | 3/18/2021 | |
| Holding Period (Years) (formula) | 5.5644 | |
| Name of Investment (column) | Alder Health Partners | |
| Legal Name of Investment (column) | Alder Health Partners Inc. | |
| Asset Type (column) | Private Equity | |
| Asset Sub-Type (column) | Direct Investment | |
| City (column) | Charlotte | |
| State (column) | NC | |
| ZIP | 28203 | source ↗ confirmed |
| Geography | United States | source ↗ confirmed |
| Investing Entity (column) | Northwind Family LP | |
| Role (GP / LP) (column) | Investor | |
| Partners | Larkspur Capital Partners (sponsor); Northwind Family LP; management rollover | source ↗ confirmed |
| Entity that Owns the Deal (column) | Northwind Family LP | |
| Ownership % (column) | 100.00% | |
| Initial Investment (column) | 4,000,000 | |
| Total Invested Capital (formula) | 4,000,000 | |
| MH / AK Code (column) | — | |
| Deal Manager (column) | Simone Barrett | |
| Investment Info (ALL) | 3/3 | |
| Strategy / Thesis (column) | ||
| Current Stage (column) | ||
| Projected Returns | 2.5x MOIC / 22% IRR over 5 years (sponsor base case) | source ↗ confirmed |
PE / VC
8/16 answered
| PE / VC | 8/16 | |
| Valuation Method | — | |
| Valuation As-Of Date | — | |
| Valuation Perspective | — | |
| Company / Fund Value | $310M enterprise value | source confirmed |
| Ownership % (Fully Diluted) | — | |
| Committed Capital | $4,000,000 | source ↗ confirmed |
| Called to Date | — | |
| Unfunded Commitment (formula) | — | |
| Latest Capital Statement | — | |
| Round / Stage | Majority recapitalization (Mar 2021) | source ↗ confirmed |
| Lead Investor / Sponsor | Larkspur Capital Partners | source ↗ confirmed |
| Security Type | Class A common units | source ↗ confirmed |
| Liquidation Preference | None - common units, pari passu | source ↗ confirmed |
| Pro-Rata / Follow-On Rights | Pre-emptive rights on new equity issues | source ↗ confirmed |
| Board / Observer Rights | Board observer; quarterly information rights | source ↗ confirmed |
| Reporting Cadence | — |
Tax
4/5 answered
| Tax | 4/5 | |
| Initial Tax Year Expected (formula) | 2,021 | |
| Tax Document Expected (column) | K-1 | |
| Tax Preparer (column) | Lakeside CPA Group | |
| Contact for K1 (column) | Simone Barrett | |
| FEIN / Account # (column) | — |
Legal
1/6 answered
| Legal | 1/6 | |
| OA Status (column) | Executed | |
| Preferred Return (document) | — | |
| LP / GP Split (document) | — | |
| GP Ownership (document) | — | |
| Pref / Split Note (document) | — | |
| Side Letter | — |
Reporting & Docs
3/14 answered
| FS / Document Filing / Reporting | 3/14 | |
| OA | On file | source ↗ confirmed |
| Loan Docs (loan) - tbd if separate (document) | — | |
| Closing Statement (RE) (document) | — | |
| OM | On file | source ↗ confirmed |
| UW | On file | source ↗ confirmed |
| General Reporting Frequency | — | |
| Accounting Basis (Cash, Accrual) | — | |
| P&L Frequency | — | |
| Balance Sheet Frequency | — | |
| Collections Report Frequency | — | |
| Rent Roll Frquency | — | |
| GL Frequency | — | |
| Investor Report Frequency | — | |
| Capital Account Frequency | — |
Capital Summary
Initial Investment
$4,000,000
S
Committed
$4,000,000
S
Current Cash
—
S
Total Invested
$4,000,000
C
Entities
Entity Owning Deal
Northwind Family LP
Investing Entity
Northwind Family LP
Tax Reporting Entity
Northwind Family LP
Quick Links
Distributions
Performance
Tax Docs
No property details available
Total Returns
$621,495
C
Capital
$0
C
Operations
$621,495
C
Lifetime ROI
15.5%
C
Annualized ROI
2.6%
C
IRR
10.3%
C
Equity Multiple
1.16x
C
# Distributions
9
Total Returns — Backup Calculation
| Capital Returns | $0 |
| Operations Returns | $621,495 |
| Total Returns | $621,495 |
Sum of all Capital + Operations distribution records for this investment.
Capital Returns — Backup Calculation
Sum of all distribution records where type = "Capital".
$0
Operations Returns — Backup Calculation
Sum of all distribution records where type = "Operations".
$621,495
Lifetime ROI — Backup Calculation
| Total Returns (numerator) | $621,495 |
| Total Invested Capital (denominator) | $4,000,000 |
| ROI = Returns / Invested | 15.5% |
Formula: Total Distributions / Total Invested Capital × 100
Annualized ROI — Backup Calculation
| Lifetime ROI | 15.5% |
| Investment Date | 03/18/2021 |
| Years Held | 5.6 yrs |
| Annualized ROI | 2.6% |
Formula: Lifetime ROI / Years Held
IRR — Backup Calculation
| Initial Investment (outflow) | -$4,000,000 |
| 07/15/2026 — Operations | $62,872 |
| 04/15/2026 — Operations | $78,628 |
| 01/15/2026 — Operations | $79,047 |
| 10/15/2025 — Operations | $61,926 |
| 07/15/2025 — Operations | $62,536 |
| 04/15/2025 — Operations | $64,260 |
| 01/15/2025 — Operations | $60,051 |
| 10/15/2024 — Operations | $82,937 |
| 07/15/2024 — Operations | $69,238 |
| Terminal Value (Current FMV) | $6,200,000 |
| IRR (XIRR) | 10.3% |
XIRR calculation using actual cash flow dates. Investment outflow → Distribution inflows → Terminal FMV (if active).
Equity Multiple — Backup Calculation
| Total Distributions | $621,495 |
| Current FMV | $6,200,000 |
| Total Invested Capital (denominator) | $4,000,000 |
| Equity Multiple | 1.16x |
Formula: (Total Distributions + Current FMV) / Total Invested Capital
# Distributions — Details
9 distribution records on file.
Latest: 07/15/2026
— Operations: $62,872
Performance History
| As Of Date | Total Returns | Lifetime ROI | Annualized ROI | IRR | Equity Multiple |
|---|---|---|---|---|---|
| 09/30/2026 | $621,495 | 15.5% | 2.6% | 10.1% | 1.71x |
Distribution Summary
| Total Distributions | $621,495 |
| YTD Distributions | $220,546 |
| Distribution Count | 9 |
| Latest | 2026-07 |
Financial Statement Coverage — have vs need, from the Documents app
on file ·
missing
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No matching deal found in the Documents app for this investment.
No coverage grid recorded for this deal yet.
| Statement | On file | Missing | Latest on file | Missing periods |
|---|---|---|---|---|
| — |
Deal Docs
✓
Available Financial Statements — from the Documents app
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No matching deal found in the Documents app for this investment.
Matched to — no financial statements on file yet.
| Statement | Period | Received | Filed | Format | Open |
|---|---|---|---|---|---|
| Y — | View SharePoint ↗ |
Tax Documents — by Year (this entity)
2 document(s) · full tax history & capital roll-forward →
2025 (1)
| K-1 · Alder Health Partners Inc. | Rcvd 09/04/26 | View |
2024 (1)
| K-1 · Alder Health Partners Inc. | Rcvd 09/02/25 | View |
Contributed to a Consolidated K-1 (memo)
One K-1 covers this deal and its siblings. These are its slices from the issuer's QBI pass-through statement —
already counted on the canonical row, shown here so the contribution is visible. Not added to anything on this page.
| 2025 · Alder Health Partners Inc. #16 | Alder Health Partners Inc. - trade or business income | ordinary_income | 178,767 | K-1 |
| 2025 · Alder Health Partners Inc. #16 | Alder Health Partners Inc. - management company | ordinary_income | 34,051 | K-1 |
Cross-Reference Tracking
| Distribution Applicable | Yes |
| Tax Tracker | Yes |
| FS Tracker | No |
| REO (Property) | No |
| Shared Expenses | No |
| Annual Report | No |
| Syndicated Entities | No |
| Loan Tracker | No |
| Exchange Tracker | No |
Investment Notes
Board observer seat exercised quarterly; management reporting is on time and candid.
Investment Status
| OA Status | Executed |
| Member Class | Class A |
| Amount per OA | — |