Re-Up via Odyssey
The Re-Up program via Odyssey by investing each year across several vintages, entrepreneurs build up gradual exposure to private equity. Starting with a mature portfolio (around year 7), distributions from the first vintages can help finance future calls, limiting the additional cash flow required.
Strategic architecture
Consistent annual commitment
Regular commitment discipline allows for a smoother entry and avoids concentrated investment in a single cycle.
Time-limited funding effort
As capital calls are progressive, cash flow is mobilized in stages, facilitating financial planning at the company level.
Progressive self-financing of the portfolio
When the first vintages are distributed, the cash flows can help finance new calls while maintaining exposure—and paving the way for a phase of more regular distributions.
Steering via simulation
The trajectory can be constructed from:
- Available capital
- Target capital at a given time horizon
- Target income
Projections can be expressed as gross, net of income tax, or net distributable to partners. The model distinguishes between company-level performance and the impact of a distribution.
Taxation: gains realized are included in taxable income. Any distribution may result in additional taxation at the personal level.
The advantages for investors
- A structured “off-balance-sheet” strategy: building a second core asset.
- Potential cash flows at maturity: can be modeled as gross, net of income tax, or net distributable.
- Long-term diversification: exposure to the real economy, less correlated with listed markets.
The chart or results shown are not a reliable indicator of future performance. Actual returns may differ from those shown, either upward or downward. Gains and losses may exceed the amounts shown in the most favorable and least favorable scenarios, respectively. Past performance is not indicative of future results. Applicable tax treatment depends on your individual circumstances. The Re-up program does not constitute an offer of automatic subscription or a contractual commitment. Annual subscription to a new Vintage the Odyssey series Odyssey entirely optional and must be the subject of a separate investment decision, based on the regulatory documents of the relevant fund and the investor’s individual circumstances.
