How do management fees and expenses work?

New quarterly funds in this Program are created each quarter to invest in on-thesis deals sourced during the quarter. By subscribing, an LP commits to make the subscribed-for capital contribution to each quarterly fund offered through this Program. Each LP is then able to modify or cancel its subscription before the beginning of any subsequent quarterly fund, after meeting the number of quarterly subscriptions the LP initially commits to.

An LP’s subscription into a quarterly fund also provides that investable capital remaining at the end of the quarterly fund’s deployment period may be automatically rolled over into a subsequent quarterly fund. When this happens, an LP receives a corresponding contribution to the subsequent quarterly fund in addition to whatever amount it subscribes for and contributes directly into the subsequent quarterly fund.

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