Spreadsheets are like an old friend - we rely and trust them, even if they make us crazy once in a while. But in terms of the private capital industry, too much reliance can turn into an unproductive relationship.

With private capital’s increasing influence in the financial markets, the role the spreadsheet plays in making major decisions - across the back office, deal teams and LPs, - is worth examining.

This whitepaper looks at the nature of the risks posed by the continued prevalence of spreadsheet-based processes at private equity, private debt, real estate and venture firms.