Maybern is already the system of record for fund-level activity: capital calls, distributions, waterfalls, and LP positions. Investment-level activity, the data that drives deal-level performance, has typically lived somewhere else. A separate spreadsheet, a prime broker file, an admin report that has to be reconciled by hand.

Transaction Register closes that gap. Investment cashflows now flow through the same allocation engine, the same audit trail, and the same governed source of truth as the rest of the fund. Deal-level performance now runs from the same place fund-level performance already lives.

One foundation for performance, analysis, and reporting

Fund-side and investment-side activity now live in the same system, modeled the same way, allocated by the same engine. Every calculation and report that sits on top is accessible at both the fund level and the deal level. There is no second data model to reconcile against, and no separate export to keep in sync.

Flexible inputs, reliable allocations

Investment data does not always arrive at the same level of detail. Sometimes it is per-security from a prime broker, sometimes rolled up to a share class or fund family, sometimes at the entity level. Transaction Register accepts capital amounts at whatever level the source data arrives in, then handles the allocation using the same engine that runs fees, waterfall, and performance, with a full audit trail of who entered what and when.

Unitization and FX are handled out of the box, and each field is available to downstream calculations:

• Unitization. Units and price per unit.
• FX. Local currency, local currency amount, and conversion rate alongside the base fund currency.
• Both at once. Price per unit in local currency, for the cases where both matter.

Smart auto-calculation and guardrails keep any pair of numbers from drifting out of sync.

What this looks like in practice

A $1.2B RE Credit fund receives daily per-security cashflows from a prime broker (CUSIP-level coupon, paydown, and prepay activity across 180 positions) and runs entity-level capital activity at the SPV layer for the same fund. Before Transaction Register, those two granularities lived in different files and were reconciled manually before anything could roll up to the fund. Now both feed Transaction Register directly. Per-security cashflows are ingested at the CUSIP level. Entity-level activity is ingested at the SPV level. The same allocation engine pushes everything through to fund NAV, performance, and LP-level returns, with one audit trail across both. The analyst stops choosing which file is the source of truth.

Your transaction codes, on your terms

Maybern's library of transaction codes covers the standard cases. Teams can also create custom investment transaction codes to match their own taxonomy. Custom codes behave like native ones for allocation, calculation, and reporting.

Bulk upload from Excel

Drag and drop an Excel file and map columns to your terminology in one pass.

What's next

Transaction Register is the foundation for the investment-level work coming next:

• Investment activity flowing into fund NAV. Codifying investment-driven Fund P&L items: unrealized gain/loss, realized gain/loss, and investment income and expenses.
• Agentic reconciliation. An AI agent that accepts data in any format for any event and diagnoses the root cause of differences between Maybern's source-of-truth allocation and external data, including instant reconciliation against an administrator.
• Subset analysis via custom fields. Slicing and filtering reports by asset class, deal owner, or any custom attribute LPs and deal teams ask for.

Transaction Register is part of Maybern's Performance Book of Record: one structured system where fund-level and investment-level activity live together, allocated by the same engine, reportable via MXL, with a full audit trail.

Keep reading

• Explore the docs
• See it in your fund structure