Disclaimer

Not investment advice

Equisect is research software, not an investment adviser, broker-dealer, or financial planner, and nothing on this platform is investment advice. Nothing here is a recommendation to buy, sell, hold, or otherwise transact in any security, fund interest, or other asset, and nothing here is a quote, bid, offer, or solicitation of an offer. We do not know your financial situation, objectives, or risk tolerance, and nothing we show you is tailored to it.

What our figures actually are

Every "fair price," return figure, projection, or sensitivity shown on Equisect is the output of a statistical or machine-learning model, computed from historical fund-level cashflow data and stated modeling assumptions (required return, wind-down horizon, distribution regime, and similar inputs you control). These are estimates of what a discounted, projected cashflow path might be worth today under those assumptions — not a market quote, not a broker indication, not an appraisal, and not a prediction of what any real transaction would actually price at. Change the assumptions and the output changes; a different fund, a different day, or a different model can reasonably produce a materially different number for the same underlying interest.

Models are wrong sometimes, by design

Every model on Equisect is validated against historical, held-out data and — where we publish one — an out-of-sample accuracy or overfitting verdict is shown alongside its output. A model "surviving" that check means it was honest about its own historical error on funds it never trained on; it does not mean its projection for your specific fund today will be accurate. Private-market cashflows are genuinely hard to forecast, historical panels are survivorship-prone, and every projection carries real, sometimes large, uncertainty — that is why we show a P25–P75 band rather than a single number, and you should treat the band, not the point estimate, as the honest range.

AI-drafted narrative text

Where an IC-memo section is drafted by our local AI model, that text is a first-draft summary of already-computed figures, not new analysis, and not advice. It is generated on infrastructure we operate — nothing about your fund or your notes is sent to a third-party AI provider — and every number-shaped claim it makes is checked against the underlying priced result before you see it; anything we can't verify is flagged inline, not silently corrected or hidden. Even so, an AI-drafted paragraph can misstate context, omit something material, or simply read worse than what a human analyst would write. Review every AI-drafted section before it goes into a real memo. The Recommendation & Next Steps section of every memo is never AI-drafted, precisely because that judgment call is not ours to make.

No fiduciary relationship

Using Equisect does not create an advisory, fiduciary, or broker-client relationship between you and us. We do not act as your agent, do not manage assets on your behalf, and do not owe you a duty of care beyond what our Terms & Conditions set out. You are solely responsible for any investment decision you make, whether or not it was informed by something you saw here.

Consult your own advisors

Nothing here substitutes for independent financial, legal, tax, or accounting advice from a qualified professional who knows your actual circumstances. Private-fund secondaries in particular carry transaction-specific considerations (transfer restrictions, GP consent, tax treatment, diligence scope) that no pricing model addresses — see the Diligence Summary and Terms & Structure sections of the IC-memo template for a non-exhaustive checklist of what to look into separately.

Past accuracy is not a guarantee

Historical pricing error, calibration statistics, and out-of-sample verdicts shown on this platform describe how a model performed against past, historical data. They are not, and are not intended to be, a guarantee, prediction, or assurance of future accuracy for any fund, model, or market condition.

Assumption of risk

Private-equity, secondaries, and related fund interests are illiquid, long-dated, and can lose value, including all invested capital. You assume all risk arising from any decision made in reliance on Equisect, in whole or in part, to the fullest extent permitted by law.

Contact

Questions about this disclaimer: legal@equisect.com