Visualize LP exposure, for unprecedented control

Author:

Cesar Ruiz

Read time:

2 minutes

Published date:

October 29, 2025

The Entity Map makes visual sense of complex entity and partner relationships, reflecting every transaction in real time.

Contents

• Visualize LP exposure, for unprecedented control
• Automating ownership calculations with interactive entity mapping
• Designed for PE teams across a range of functions
• Why this matters now

Private equity firms often invest through multi-entity structures—holding companies, blockers, co-invest vehicles, and management equity entities. These structures serve important tax and legal purposes, but they make it difficult to answer a simple question: “Who ultimately owns what?” Look-through ownership is a new Carta capability that reveals true LP exposure across every layer of your portfolio company structure. With this, you can calculate exposure accurately, respond to LP requests faster, and reduce compliance risk.

Automating ownership calculations with interactive entity mapping

Until now, many firms relied on spreadsheets and manual calculations to trace ownership through multiple entities. Look-through ownership transforms this workflow by leveraging the same technology that powers the entity map, allowing us to create an interactive fund structure visualization. Within the cap table interface, toggle between direct and look-through views to reveal precise ownership percentages across entities. Each percentage in the cap table is clickable, revealing the entity map view of your data. Similar to how the entity map represents financial flows across linked entities, you'll get a visual layout of your ownership structure and can easily trace exactly how ownership flows from operating companies back to funds or vehicles.

Designed for PE teams across a range of functions

Every team within a private equity firm has different needs:

• Legal and compliance analysts gain confidence that reporting aligns with regulatory requirements
• Investment teams can quickly assess exposure when evaluating exit strategies
• LPs benefit from greater transparency into their look-through ownership exposure

Look-through ownership makes these workflows faster, more accurate, and easier to manage.

Why this matters now

Look-through ownership ensures that your reporting reflects the true-to-legal structure of your portfolio companies, reducing compliance risk and saving valuable time. Whether you’re preparing quarterly valuations, answering LP exposure questions, or responding to regulators, you can now do it with confidence and clarity.

Author: Cesar Ruiz

Cesar Ruiz is the Product Marketing Lead for Private Equity at Carta. Prior to Carta, he led trust and safety product marketing initiatives at Facebook and Twitter covering elections integrity, misinformation, and offline crisis response.