Syndications and funds don't trade publicly, so their current value isn't observable day-to-day. Sponsors typically issue a NAV (net asset value) mark at fixed intervals — quarterly is most common — telling investors what each unit or share is worth as of that date. Policy Stack lets you record each mark so the deployment's current value reflects the latest sponsor statement instead of staying frozen at the initial capital commitment.
Why NAV Marks Matter
The headline numbers on a syndication deployment — Current Value, Spread, Total Return — depend on knowing what the position is worth today. Without a mark, the deployment stays at its original cost basis indefinitely. After a few quarters, that can be wildly out of date.
A current mark also flows into:
- Net Worth — the syndication contributes its current value, not the original capital
- Asset allocation breakdown — accurate share of total wealth in private equity / syndications
- Year-over-year analytics — change in NAV is a meaningful comparison year-on-year
- Spread calculation — total return uses current value, so the spread tile reads correctly
When to Record a Mark
The cadence depends on your sponsor. Common patterns:
- Quarterly — most operating-deal sponsors (multifamily, industrial, retail) issue Q1/Q2/Q3/Q4 statements with updated NAV
- Annually — slower-cycle funds or development deals where there's nothing meaningful to mark mid-year
- Event-driven — major capital events (refinance, partial sale, distribution-in-kind) usually come with a mark