How do distributions from the Rolling Access Fund work?

LPs participate in distributions from each quarterly fund to which they subscribe and contribute  capital. 

Distributions are typically made on a quarterly basis as each quarterly fund in the Rolling Access Fund Program receives distributions from its underlying investments. These distributions in turn are typically triggered by exits from the portfolio companies that the underlying investment vehicles have invested in.

There is no carried interest charged for quarterly funds in the Rolling Access Fund Program, but distributions are net of carry and fees charged by the underlying investment vehicles.

Quarterly funds that have not exited all investments by the end of their term will ordinarily be liquidated, as described in the fund agreements. LPs should be prepared to hold their interest in each quarterly fund for its full term.

Was this article helpful?
5 out of 6 found this helpful