Compare public & private investments apples to apples

We rebuid every deal's DCF, score each investment on normalized risk dimensions, and standardize risk-adjusted returns across your portfolio

Real Estate
Energy
Software
Normalized Risk

The Problem with Private Market Investing

Apples to Oranges

How do you compare an oil royalty deal against a software growth investment against a real estate bridge loan? Today, you can't — each uses different metrics, assumptions, and risk factors.

Sponsor Assumptions Are Marketing

Sponsor DCF models are built to sell deals, not stress-test them. Revenue growth rates, exit multiples, and cost assumptions often reflect best-case scenarios — not verified economic reality.

Portfolio Tools Don't Help You Decide

Platforms like Aladdin and Addepar tell you what you own. They don't tell you whether you should make the next investment — or how it compares to alternatives.

The 3-Part Solution

1
Standalone risk-reward profile

We ingest an investment, build its cashflow profile based on primitives, and run Monte Carlo simulations to give you a deep understanding of its standalone risk-reward profile.

2
Apples to apples comparison

We do the same for all the investments you're considering and give you a framework to normalize risk units according to your preferences, so you can compare risk-adjusted returns.

3
Portfolio Construction

So then what? We help you contextualize risk-reward profiles based on how they fit in your portfolio and how they impact cross-correlations, diversification, and risk exposures.

Introducing Return per Normalized Risk Unit

Sixth Street Partners built a $115 billion firm by 'unitizing risk' — evaluating every investment, regardless of asset class, on a standardized risk-adjusted basis. DealDx brings this institutional framework to family offices and advisors through software.

The Normalized Risk Unit is a composite score from 0.1 (Treasury-like safety) to 1.0 (venture equity-like risk) derived from five measurable dimensions. When you divide expected return by NRU, you get a single number that makes any investment comparable to any other.

The NRU Formula
Return per NRU = Expected IRR ÷ Normalized Risk Unit
Deal A: 18% IRR ÷ 0.65 NRU= 27.7 Return/NRU
Deal B: 22% IRR ÷ 0.85 NRU= 25.9 Return/NRU
Deal C: 14% IRR ÷ 0.45 NRU= 31.1 Return/NRU ✓ Best

Despite the lowest headline IRR, Deal C offers the best risk-adjusted opportunity

Five Dimensions of Standardized Risk

You can personalize your risk profile by adjusting weights and parameters for each risk dimension

Structural Risk Score
25% weight

Where you sit in the capital stack — attachment points, LTV, covenant protection, payment priority, and lien position.

Visual indicator: Gradient from green (senior secured) to red (common equity)
Cash Flow Volatility Score
30% weight

We rebuild sponsor models using verified economic primitives — actual demand curves, commodity forwards, labor cost trajectories — then run Monte Carlo simulations to reveal true cash flow risk.

Visual indicator: Distribution curve showing range of outcomes
Macro Sensitivity Score
20% weight

Systematic stress testing: interest rate shocks, commodity price swings, FX exposure, regulatory risk, and cycle positioning.

Visual indicator: Sensitivity heat map
Liquidity & Exit Risk Score
15% weight

How trapped is your capital? Lock-up periods, exit pathway clarity, buyer universe depth, and forced-sale discount analysis.

Visual indicator: Timeline with exit windows
Model Confidence Score
10% weight

How much do we trust the numbers? Percentage of assumptions backed by verified data vs. sponsor projections, historical calibration, and comparable deal availability.

Visual indicator: Confidence meter

Standalone Risk-Reward Profile

We re-build a deal's DCF using verified primitives to stress-test and show you how it would perform under different scenarios (e.g., the GFC period)

Permian Basin Royalty Fund
Energy
NRU Score
0.52
Return/NRU
31.2
Top 15% of analyzed deals
NRU Breakdown
Structural Risk2.1/10

Excellent - royalty interest, no leverage

Cash Flow Volatility5.8/10

Moderate - commodity exposure

Macro Sensitivity6.2/10

Elevated - oil price dependent

Liquidity Risk4.5/10

Good - 5-year term, secondary market

Model Confidence3.2/10

Strong - verified depletion curves

Key Findings

Sponsor assumes $78/bbl WTI average. Our stress test shows breakeven at $52/bbl — 33% cushion.

Depletion curve verified against 847 comparable Permian wells. Sponsor assumptions align within 8%.

Exit assumptions aggressive — sponsor projects 6.5x; comparable exits average 5.1x. Adjusting IRR to 14.8%.

Scenario Analysis
ScenarioProbabilityIRRMultiple
Base Case50%16.2%1.8x
Upside (Oil $90+)20%22.4%2.2x
Downside (Oil $55)25%9.8%1.4x
Stress (Oil $45)5%3.2%1.1x

Apples to Apples Comparison Across Deals

Which opportunity deserves your next $5M allocation?

Metric
Permian Basin Royalty
Energy
Apex Software
Tech Growth
Harbor Bridge Loan
RE Credit
Sponsor IRR16.2%24.5%11.8%
DealDx Adjusted IRR14.8%21.2%11.5%
NRU Score0.520.880.38
Return/NRU28.524.130.3
Downside Scenario+3.2%-8.5%+6.2%
Correlation to PortfolioLowHighLow
Recommendation
Strong
Moderate
Strong

Bottom line: Despite the lowest headline IRR, Harbor Bridge Loan III offers the best risk-adjusted return and lowest correlation to your existing tech-heavy portfolio. Adding this deal would reduce portfolio NRU by 0.03 while maintaining target returns.

Portfolio Construction

See how adding each deal changes your portfolio

Current Portfolio
Public Equities
55%
NRU: 0.58
Fixed Income
20%
NRU: 0.22
Private Equity
15%
NRU: 0.82
Private Credit
10%
NRU: 0.48
Blended Portfolio NRU0.54
What-If Analysis

If you add Permian Basin Royalty ($5M):

Improved Overall Risk (New Blended NRU)
0.540.52

Lower is better - improved risk profile

Diversification Benefit
-0.04

What's the impact on overall correlation

Better Risk-adjusted Returns
24.826.1

Your new portfolio return / NRU

From Sponsor Deck to Investment Decision in 48 Hours

Step 1

Upload

Upload the sponsor's deck, financial model, and deal documents. Our system extracts key assumptions automatically.

Step 2

Rebuild

We rebuild the DCF using our verified primitives library — real demand curves, commodity forwards, and economic models — not sponsor assumptions.

Step 3

Stress Test

Monte Carlo simulation across 1,000+ scenarios. Interest rate shocks, commodity swings, recession scenarios. See the full distribution of outcomes.

Step 4

Score & Compare

Get your NRU score, Return/NRU ranking, and see exactly how this deal compares to every alternative — and to your existing portfolio.

The DealDx Primitives Library: Our Unfair Advantage

Sponsor models fail because they use made-up assumptions. We replace them with verified economic primitives — empirically validated models for how the real world actually works.

Oil & Gas Depletion Curves

Calibrated against 50,000+ wells by basin, formation, and completion type

SaaS Cohort Decay Models

Net revenue retention curves based on 2,000+ software companies by segment

Real Estate Cap Rate Cycles

30-year historical cap rate data by market, property type, and rate environment

Labor Cost Escalation

BLS-verified wage growth by metro, industry, and skill level

Commodity Forward Curves

Live integration with CME, ICE, and NYMEX forward markets

Credit Loss Curves

Default and recovery data across 15 years of private credit vintages

Built For Sophisticated Allocators & Sponsors

Family Offices

Compare every opportunity that crosses your desk — from your advisor's private credit fund to your neighbor's startup — on equal footing.

RIAs & Wealth Advisors

Bring institutional-quality due diligence to client conversations. Document your analysis. Justify your recommendations.

Independent Sponsors

Show co-investors and family offices that your deal has been stress-tested against verified assumptions — not just your projections.

DealDx vs. The Status Quo

CapabilityExcel / ManualAladdin / AddeparDealDx
Evaluate incoming deals
Ad hoc
Not designed
Core purpose
Stress-test sponsor assumptions
If you build it
No
Automated
Compare across asset classes
No standard
No standard
NRU Framework
Verified economic primitives
No
No
50K+ data points
Portfolio fit analysis
Manual
Yes
Yes
Decision support
No
Reporting only
Recommendations

Frequently Asked Questions