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.
DISCLOSURE: This communication is on behalf of eShares, Inc. dba Carta, Inc. ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. © 2026 Carta. All rights reserved. Reproduction prohibited.
