Monitor everything your deal requires — and everything you're entitled to.
A leveraged deal is a stack of obligations and a set of economics. Managing Analyst reads your agreements — credit agreement, LPA, operating agreement, side letters — once and tracks all of it: every covenant and reporting deadline, the adjusted EBITDA your ratios run on, and the sponsor fees and distributions you're entitled to — without tripping a covenant.
Built for whoever owns the deal
If you own a leveraged company, both its compliance and its economics are your job — and neither is something a spreadsheet reminds you about or defends for you.
Independent sponsors
You signed the credit agreement deal by deal. Track every covenant and reporting obligation across the portfolio, and defend the EBITDA each one is tested on.
Search funds
One acquisition, one dense credit agreement, and no compliance desk. Turn the document into tracked deadlines and a covenant-EBITDA you can stand behind.
Portfolio-company finance
CFOs and controllers living under a credit agreement: know what's due, when, and whether the next ratio test clears — before the lender asks.
One document, three jobs
The same credit agreement (and LPA) tells you what you owe, the EBITDA your covenants are tested on, and what the sponsor is allowed to take. Managing Analyst reads it once and does all three.
Obligations & covenants
Your credit agreement is packed with obligations — reporting, notices, financial covenants, and dozens of affirmative and negative covenants. Track all of it, not just the ratios.
- Every obligation carries a verbatim source citation
- AI proposes obligations from your docs; a human confirms
- Covenant headroom flags an at-risk ratio before it's a breach — leverage, DSCR, coverage, any test
- Deadlines with reminders — email and a calendar feed
Adjusted EBITDA
The number everyone argues about. Your agreement defines its own addbacks, caps, and time limits — different from the MIP, the LPA, and management numbers. Compute each one defensibly from the same GL.
- A recomputable reported→adjusted bridge — never a black box
- Caps, aggregate limits, and time windows enforced per the agreement
- Per period — quarterly, annual, and LTM — with amendment history
- Feeds the covenant ratio, and any fee keyed to EBITDA
Sponsor economics
What can you actually take out? Management, monitoring, board, and transaction fees, plus distributions — each permitted or restricted by the agreement at your current leverage. Model them all.
- Any fee type — recurring or transaction-triggered; % of EBITDA with floors/ceilings, or fixed
- Netting — portfolio-company fees offset the LPA management fee
- Leverage-gated — fees suspended or restricted are flagged at current leverage
- Basket headroom and a per-quarter payable-vs-accrued schedule
From the agreement to a deal you can run
The same agreements define what you owe, how EBITDA is measured, and what you're entitled to. Managing Analyst reads them once and carries it all the way through.
Turn your agreements into a monitoring system.
Free while we're in early access. Bring your agreements — credit agreement, LPA, operating agreement, side letters — and see every obligation and deadline, the covenant EBITDA behind your ratios, and the fees and distributions you're entitled to.
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