Background
Throughout 2026, we're rolling out a series of updates designed to improve how you track your investment performance. As part of that effort, we’ve partnered with Gen II — a fund administrator with more than $1.5 trillion in assets under administration — to power reporting across all of our private investments.
Most notably, Gen II will enable us to provide balances for fund investments that incorporate the fair value of the underlying assets (for example, the value of a real estate property or private business).
For the first phase (March - July 2026), we’re standardizing how balances are calculated and updated on investments structured as notes.
What changes for investments structured as notes?
Once onboarded to Gen II, the following will work differently with your investments structured as notes:
Balance updates
Before Gen II, the balances on note investments updated daily with accrued interest. Once migrated to Gen II, your balances will update at the end of each month to reflect accrued interest from the prior month. For example, your balance at the end of August is expected to reflect any accrued interest from July.
Statements
All offerings on Gen II are expected to provide quarterly statements.
Distributions
While the cadence and timing of distributions won't change with Gen II, the date that displays in your statements will be reported based on their effective dates rather than cash settlement date. Your portfolio will continue to show payments based on their cash settlement date.
It is important to note that your investments themselves are not changing with Gen II, and you will continue to access everything through Willow Wealth as you do today. This does not impact distributions or performance — only how it is reflected within your Willow Wealth portfolio and statements.