Granite Peak Fund III
Granite Peak Fund III
Total Invested
$3,600,000
S
FMV
$4,410,000
as of Sep 30, 2026
S
Unrealized P&L
$810,000
C
Lifetime ROI
60.2%
C
Capital Stack Breakdown
| Component | Amount | Tag |
|---|---|---|
| Initial Investment Components | ||
| Initial Cash | $3,600,000 | S |
| = Initial Investment | $3,600,000 | C |
| Capital Activity | ||
| = Total Invested Capital | $3,600,000 | C |
| Hale Share (100.0%) | $3,600,000 | C |
Scope
One investment row (#1022) — 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
$-3,600,000
5 postings · capital contribution + loan
Distributions
$2,165,458
operations + capital + synd
Cash In / Out
$2,165,458 / $-3,600,000
by sign, ignoring the bucket
Net
$-1,434,542
23 postings
✓ Foots to the Total Returns KPI — the rows below add to
$2,165,458. 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 07/20/2026 | Workbook | Capital | Distribution - Capital | Deposit | 66256 | Granite Peak Capital Mgmt | Q2 2026 realised proceeds | NWLP | Northwind Family LP | 1022 | $129,927 |
| 07/20/2026 | Workbook | Operations | Distribution - Regular | Deposit | 15550 | Granite Peak Capital Mgmt | Q2 2026 income | NWLP | Northwind Family LP | 1022 | $38,533 |
| 04/20/2026 | Workbook | Capital | Distribution - Capital | Deposit | 29528 | Granite Peak Capital Mgmt | Q1 2026 realised proceeds | NWLP | Northwind Family LP | 1022 | $218,393 |
| 04/20/2026 | Workbook | Operations | Distribution - Regular | Deposit | 98490 | Granite Peak Capital Mgmt | Q1 2026 income | NWLP | Northwind Family LP | 1022 | $54,058 |
| 01/20/2026 | Workbook | Capital | Distribution - Capital | Deposit | 37733 | Granite Peak Capital Mgmt | Q4 2025 realised proceeds | NWLP | Northwind Family LP | 1022 | $215,510 |
| 01/20/2026 | Workbook | Operations | Distribution - Regular | Deposit | 69690 | Granite Peak Capital Mgmt | Q4 2025 income | NWLP | Northwind Family LP | 1022 | $55,575 |
| 10/20/2025 | Workbook | Capital | Distribution - Capital | Deposit | 91983 | Granite Peak Capital Mgmt | Q3 2025 realised proceeds | NWLP | Northwind Family LP | 1022 | $206,376 |
| 10/20/2025 | Workbook | Operations | Distribution - Regular | Deposit | 20207 | Granite Peak Capital Mgmt | Q3 2025 income | NWLP | Northwind Family LP | 1022 | $38,166 |
| 07/20/2025 | Workbook | Capital | Distribution - Capital | Deposit | 46581 | Granite Peak Capital Mgmt | Q2 2025 realised proceeds | NWLP | Northwind Family LP | 1022 | $263,583 |
| 07/20/2025 | Workbook | Operations | Distribution - Regular | Deposit | 75715 | Granite Peak Capital Mgmt | Q2 2025 income | NWLP | Northwind Family LP | 1022 | $32,188 |
| 04/20/2025 | Workbook | Capital | Distribution - Capital | Deposit | 60403 | Granite Peak Capital Mgmt | Q1 2025 realised proceeds | NWLP | Northwind Family LP | 1022 | $173,862 |
| 04/20/2025 | Workbook | Operations | Distribution - Regular | Deposit | 87408 | Granite Peak Capital Mgmt | Q1 2025 income | NWLP | Northwind Family LP | 1022 | $51,061 |
| 01/20/2025 | Workbook | Capital | Distribution - Capital | Deposit | 54206 | Granite Peak Capital Mgmt | Q4 2024 realised proceeds | NWLP | Northwind Family LP | 1022 | $255,458 |
| 01/20/2025 | Workbook | Operations | Distribution - Regular | Deposit | 83548 | Granite Peak Capital Mgmt | Q4 2024 income | NWLP | Northwind Family LP | 1022 | $52,721 |
| 10/20/2024 | Workbook | Capital | Distribution - Capital | Deposit | 91714 | Granite Peak Capital Mgmt | Q3 2024 realised proceeds | NWLP | Northwind Family LP | 1022 | $128,839 |
| 10/20/2024 | Workbook | Operations | Distribution - Regular | Deposit | 67870 | Granite Peak Capital Mgmt | Q3 2024 income | NWLP | Northwind Family LP | 1022 | $40,106 |
| 07/20/2024 | Workbook | Capital | Distribution - Capital | Deposit | 74616 | Granite Peak Capital Mgmt | Q2 2024 realised proceeds | NWLP | Northwind Family LP | 1022 | $179,880 |
| 07/20/2024 | Workbook | Operations | Distribution - Regular | Deposit | 14053 | Granite Peak Capital Mgmt | Q2 2024 income | NWLP | Northwind Family LP | 1022 | $31,221 |
| 03/01/2022 | Workbook | Investments | Capital Contribution | Check | 63437 | Granite Peak Capital Mgmt | Capital call No. 5 | NWLP | Northwind Family LP | 1022 | $-495,000 |
| 10/01/2021 | Workbook | Investments | Capital Contribution | Check | 99279 | Granite Peak Capital Mgmt | Capital call No. 4 | NWLP | Northwind Family LP | 1022 | $-495,000 |
| 05/01/2021 | Workbook | Investments | Capital Contribution | Check | 59633 | Granite Peak Capital Mgmt | Capital call No. 3 | NWLP | Northwind Family LP | 1022 | $-495,000 |
| 12/01/2020 | Workbook | Investments | Capital Contribution | Check | 44547 | Granite Peak Capital Mgmt | Capital call No. 2 | NWLP | Northwind Family LP | 1022 | $-495,000 |
| 07/01/2020 | Workbook | Investments | Capital Contribution | Check | 30395 | Granite Peak Capital Mgmt | Initial capital call | NWLP | Northwind Family LP | 1022 | $-1,620,000 |
| Total (23 postings) | $-1,434,542 | ||||||||||
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
$96,500 across 1
| Pay date | Category | Amount | Method | Recipient | Memo | Status |
|---|---|---|---|---|---|---|
| 2026-10-29 | Distribution - Regular Q4 2026 distribution |
$96,500 | Wire | Northwind Family LP | Per manager notice of 2026-09-29 | announced |
Confirmed returns (QB)
$2,165,458
Pending (announced)
+$96,500
Total incl. pending
$2,261,958
ROI incl. pending
62.8%
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
$2,165,458
+$96,500 pending
click for detail
Capital
$1,771,827
click for detail
Operations
$393,630
click for detail
ROI
60.2%
62.8% incl. pending
click for detail
Ann. ROI
7.8%
8.1% incl. pending
click for detail
IRR
10.8%
11.1% incl. pending
click for detail
Eq. Multiple
1.60x
1.63x incl. pending
click for detail
# Distributions
18
+1 pending
click for detail
Total Returns — Backup Calculation
| Capital Returns | $1,771,827 |
| Operations Returns | $393,630 |
| = Total Returns (Capital + Operations) | $2,165,458 |
Sum of all Capital-type and Operations-type distributions received.
Capital Returns — Backup
| 07/20/2026 | $129,927 |
| 04/20/2026 | $218,393 |
| 01/20/2026 | $215,510 |
| 10/20/2025 | $206,376 |
| 07/20/2025 | $263,583 |
| 04/20/2025 | $173,862 |
| 01/20/2025 | $255,458 |
| 10/20/2024 | $128,839 |
| 07/20/2024 | $179,880 |
| = Total Capital Returns | $1,771,827 |
Loan repayments, return of capital, sale proceeds.
Operations Returns — Backup
| 07/20/2026 | $38,533 |
| 04/20/2026 | $54,058 |
| 01/20/2026 | $55,575 |
| 10/20/2025 | $38,166 |
| 07/20/2025 | $32,188 |
| 04/20/2025 | $51,061 |
| 01/20/2025 | $52,721 |
| 10/20/2024 | $40,106 |
| 07/20/2024 | $31,221 |
| = Total Operations Returns | $393,630 |
Income distributions, interest, dividends.
ROI — Backup Calculation
| Total Returns | $2,165,458 |
| Invested Basis | $3,600,000 |
| = Lifetime ROI | 60.2% |
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 | 60.2% |
| Holding Period | 6.28 yrs |
| = Annualized ROI | 7.8% |
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 (07/01/2020) | -$3,600,000 |
| Capital — 07/20/2026 | $129,927 |
| Operations — 07/20/2026 | $38,533 |
| Capital — 04/20/2026 | $218,393 |
| Operations — 04/20/2026 | $54,058 |
| Capital — 01/20/2026 | $215,510 |
| Operations — 01/20/2026 | $55,575 |
| Capital — 10/20/2025 | $206,376 |
| Operations — 10/20/2025 | $38,166 |
| Capital — 07/20/2025 | $263,583 |
| Operations — 07/20/2025 | $32,188 |
| Capital — 04/20/2025 | $173,862 |
| Operations — 04/20/2025 | $51,061 |
| Capital — 01/20/2025 | $255,458 |
| Operations — 01/20/2025 | $52,721 |
| Capital — 10/20/2024 | $128,839 |
| Operations — 10/20/2024 | $40,106 |
| Capital — 07/20/2024 | $179,880 |
| Operations — 07/20/2024 | $31,221 |
| Terminal Value (FMV or Invested, today) | $4,410,000 |
| = XIRR | 10.8% |
XIRR computed using mid-month (15th) assumption for distribution dates. Red = outflows, green = inflows.
Equity Multiple — Backup Calculation
| Total Returns | $2,165,458 |
| Initial Investment | $3,600,000 |
| = Equity Multiple | 1.60x |
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 | 9 |
| Operations Distributions | 9 |
| Other | 0 |
| = Total Count | 18 |
| Avg per Distribution | $120,303 |
Cumulative Distributions Over Time
Distribution Summary by Date Received
| Year | Month | # Distributions | Total Amount | Types |
|---|---|---|---|---|
| 2026 | 7 | $808,496 (incl. $96,500 pending) | ||
| Oct 2026 | 1 | $96,500 | Distribution - Regular · pending (not yet cleared) | |
| Jul 2026 | 2 | $168,460 | Capital, Operations | |
| Apr 2026 | 2 | $272,451 | Capital, Operations | |
| Jan 2026 | 2 | $271,085 | Capital, Operations | |
| 2025 | 8 | $1,073,414 | ||
| Oct 2025 | 2 | $244,542 | Capital, Operations | |
| Jul 2025 | 2 | $295,771 | Capital, Operations | |
| Apr 2025 | 2 | $224,922 | Capital, Operations | |
| Jan 2025 | 2 | $308,179 | Capital, Operations | |
| 2024 | 4 | $380,047 | ||
| Oct 2024 | 2 | $168,946 | Capital, Operations | |
| Jul 2024 | 2 | $211,102 | Capital, Operations | |
| TOTAL | 19 | $2,261,958 (incl. $96,500 pending) | ||
Complete Distribution History
| Date Received | Period | Type | Amount | Notes |
|---|---|---|---|---|
| 10/29/2026 | 2026-10 | Distribution - Regular · pending | $96,500 | Per manager notice of 2026-09-29 — announced, not yet cleared |
| 07/20/2026 | 2026-07 | Capital | $129,927 | |
| 07/20/2026 | 2026-07 | Operations | $38,533 | |
| 04/20/2026 | 2026-04 | Capital | $218,393 | |
| 04/20/2026 | 2026-04 | Operations | $54,058 | |
| 01/20/2026 | 2026-01 | Capital | $215,510 | |
| 01/20/2026 | 2026-01 | Operations | $55,575 | |
| 10/20/2025 | 2025-10 | Capital | $206,376 | |
| 10/20/2025 | 2025-10 | Operations | $38,166 | |
| 07/20/2025 | 2025-07 | Capital | $263,583 | |
| 07/20/2025 | 2025-07 | Operations | $32,188 | |
| 04/20/2025 | 2025-04 | Capital | $173,862 | |
| 04/20/2025 | 2025-04 | Operations | $51,061 | |
| 01/20/2025 | 2025-01 | Capital | $255,458 | |
| 01/20/2025 | 2025-01 | Operations | $52,721 | |
| 10/20/2024 | 2024-10 | Capital | $128,839 | |
| 10/20/2024 | 2024-10 | Operations | $40,106 | |
| 07/20/2024 | 2024-07 | Capital | $179,880 | |
| 07/20/2024 | 2024-07 | Operations | $31,221 | |
| TOTAL | $2,261,958 (incl. $96,500 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 | $2,165,458 | 60.2% | 7.8% | 10.1% | 1.83x |
Sections
40/64
answered · 62.5%
Deal Info
22/23 answered
| DEAL ID | 19/20 | |
| Investment # (column) | 1,022 | |
| Date of Investment (column) | 7/1/2020 | |
| Holding Period (Years) (formula) | 6.2767 | |
| Name of Investment (column) | Granite Peak Fund III | |
| Legal Name of Investment (column) | Granite Peak Real Estate Fund III LP | |
| Asset Type (column) | Private Equity | |
| Asset Sub-Type (column) | Fund | |
| City (column) | Denver | |
| State (column) | CO | |
| ZIP | 80203 | source ↗ confirmed |
| Geography | United States | source ↗ confirmed |
| Investing Entity (column) | Northwind Family LP | |
| Role (GP / LP) (column) | LP | |
| Partners | Granite Peak Real Estate GP III LLC (general partner); 87 limited partners | source ↗ confirmed |
| Entity that Owns the Deal (column) | Northwind Family LP | |
| Ownership % (column) | 100.00% | |
| Initial Investment (column) | 3,600,000 | |
| Total Invested Capital (formula) | 3,600,000 | |
| MH / AK Code (column) | — | |
| Deal Manager (column) | Marcus Feld | |
| Investment Info (ALL) | 3/3 | |
| Strategy / Thesis (column) | ||
| Current Stage (column) | ||
| Projected Returns | 15-17% net IRR, 1.8x net multiple (PPM target) | source ↗ confirmed |
PE / VC
7/16 answered
| PE / VC | 7/16 | |
| Valuation Method | — | |
| Valuation As-Of Date | — | |
| Valuation Perspective | — | |
| Company / Fund Value | Fund NAV $702M (Jun 30, 2026) | source confirmed |
| Ownership % (Fully Diluted) | — | |
| Committed Capital | $4,000,000 | source ↗ confirmed |
| Called to Date | — | |
| Unfunded Commitment (formula) | — | |
| Latest Capital Statement | — | |
| Round / Stage | Fund III - final close Jul 2020 ($640M) | source ↗ confirmed |
| Lead Investor / Sponsor | Granite Peak Capital (sponsor) | source ↗ confirmed |
| Security Type | Limited partnership interest | source ↗ confirmed |
| Liquidation Preference (document) | — | |
| Pro-Rata / Follow-On Rights | Co-invest offered deal by deal | source ↗ confirmed |
| Board / Observer Rights | LPAC member | source ↗ confirmed |
| Reporting Cadence | — |
Tax
4/5 answered
| Tax | 4/5 | |
| Initial Tax Year Expected (formula) | 2,020 | |
| Tax Document Expected (column) | K-1 | |
| Tax Preparer (column) | Lakeside CPA Group | |
| Contact for K1 (column) | Marcus Feld | |
| FEIN / Account # (column) | — |
Legal
5/6 answered
Reporting & Docs
2/14 answered
| FS / Document Filing / Reporting | 2/14 | |
| OA | On file | source ↗ confirmed |
| Loan Docs (loan) - tbd if separate (document) | — | |
| Closing Statement (RE) (document) | — | |
| OM | On file | source ↗ confirmed |
| UW (document) | — | |
| 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
$3,600,000
S
Committed
$4,000,000
S
Subsequent Calls
$400,000
S
Current Cash
—
S
Total Invested
$3,600,000
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
$2,165,458
C
Capital
$1,771,827
C
Operations
$393,630
C
Lifetime ROI
60.2%
C
Annualized ROI
7.8%
C
IRR
10.8%
C
Equity Multiple
1.60x
C
# Distributions
18
Total Returns — Backup Calculation
| Capital Returns | $1,771,827 |
| Operations Returns | $393,630 |
| Total Returns | $2,165,458 |
Sum of all Capital + Operations distribution records for this investment.
Capital Returns — Backup Calculation
Sum of all distribution records where type = "Capital".
$1,771,827
Operations Returns — Backup Calculation
Sum of all distribution records where type = "Operations".
$393,630
Lifetime ROI — Backup Calculation
| Total Returns (numerator) | $2,165,458 |
| Total Invested Capital (denominator) | $3,600,000 |
| ROI = Returns / Invested | 60.2% |
Formula: Total Distributions / Total Invested Capital × 100
Annualized ROI — Backup Calculation
| Lifetime ROI | 60.2% |
| Investment Date | 07/01/2020 |
| Years Held | 6.3 yrs |
| Annualized ROI | 7.8% |
Formula: Lifetime ROI / Years Held
IRR — Backup Calculation
| Initial Investment (outflow) | -$3,600,000 |
| 07/20/2026 — Capital | $129,927 |
| 07/20/2026 — Operations | $38,533 |
| 04/20/2026 — Capital | $218,393 |
| 04/20/2026 — Operations | $54,058 |
| 01/20/2026 — Capital | $215,510 |
| 01/20/2026 — Operations | $55,575 |
| 10/20/2025 — Capital | $206,376 |
| 10/20/2025 — Operations | $38,166 |
| 07/20/2025 — Capital | $263,583 |
| 07/20/2025 — Operations | $32,188 |
| ... and 8 more cash flows | |
| Terminal Value (Current FMV) | $4,410,000 |
| IRR (XIRR) | 10.8% |
XIRR calculation using actual cash flow dates. Investment outflow → Distribution inflows → Terminal FMV (if active).
Equity Multiple — Backup Calculation
| Total Distributions | $2,165,458 |
| Current FMV | $4,410,000 |
| Total Invested Capital (denominator) | $3,600,000 |
| Equity Multiple | 1.60x |
Formula: (Total Distributions + Current FMV) / Total Invested Capital
# Distributions — Details
18 distribution records on file.
Latest: 07/20/2026
— Capital: $129,927
Performance History
| As Of Date | Total Returns | Lifetime ROI | Annualized ROI | IRR | Equity Multiple |
|---|---|---|---|---|---|
| 09/30/2026 | $2,165,458 | 60.2% | 7.8% | 10.1% | 1.83x |
Distribution Summary
| Total Distributions | $2,165,458 |
| YTD Distributions | $711,996 |
| Distribution Count | 18 |
| 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 · Granite Peak Real Estate Fund III LP | Rcvd 08/15/26 | View |
2024 (1)
| K-1 · Granite Peak Real Estate Fund III LP | Rcvd 09/25/25 | View |
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
Called 68% of the commitment; the GP expects two more calls through 2027.
Investment Status
| OA Status | Executed |
| Amount per OA | — |