Offering Terms for LP Funds
For Limited Partnership (LP) Funds, Offering Terms has the following subsections:
Security Settings
Use the following table to complete this section:
Name
Legal name of the security being offered.
Short Name
Alternate name that the security is known by.
Security Type
LP Interest for Limited Partnerships.
Capital Calls
Select Yes to configure this fund for capital calls. Otherwise, select No.
Statements Frequency
Select from Daily, Weekly, Monthly, Quarterly, Semi-Annually, Annually, and Other.
Registration Status
33 Act Registration
Select if the fund is registered under the 33 Act.
Exempt from 33 Act Registration
Select if the fund is exempt, then select from RegD:506(B), RegD:506(C), RegS.
External Identifiers
(Optional) Click Add identifiers table to provide any supported identifiers.
Identifier Name
Select from ISIN, CUSIP, or Ticker.
ID
Enter the identifier for this fund. Click Add a new row to include multiple identifiers.
Click Save.
Minimum Investment
Use the following table to complete this section:
Minimum Investment
Minimum investment amount from a given advisor.
Allow investments below the minimum amount to be accepted
Select to allow an advisor to make below-minimum investments for multiple clients if the total meets the minimum investment.
Click Save.
Fee Information
About This Section
The Fee Information section covers fees for:
management
investor servicing
any other fees that are not performance based
To Add Fees
Fees are grouped by named templates. Each template defines one or more named fees.
Click Add Template.
Replace "New Template 1" with a template name that identifies this group of fee definitions. For example, you might enter "Standard" or "Baseline."
Enter percentages for Back-End Fee and Front-End Fee.
Click Add a new fee.
Click in the Fee Name field.
Either select from the pre-defined fee names or enter a custom name for the fee template. For example, you can select Management Fees from the pre-defined list or enter something like "Premium Service Fees."
Enter Min Amount and Max Amount for the tier.
If you do not want to define additional tiers for this fee, skip to step 10.
Click Add a new row.
Repeat steps 6 and 7 until all tiers are entered.
Click Confirm.
Use the following table to complete each entry in the fee table:
Description
Description of the fee.
Unit
Select from Amount, Percentage, and Basis Points.
Value
Amount of the fee.
Frequency
How often the fee is charged.
If there are multiple fees to list for this tier, click Add a new entry.
Select the next tier, if any.
Repeat steps 12-14. Click Save when all entries are entered for all tiers.
To add another fee template, click Add Template and return to step 1.
Performance Fees
Use the following table to define settings for all performance fees associated with this offering:
Gross or Net
Select Gross or Net to indicate whether the performance fee is based on gross or net revenue.
Hurdle Rate (%)
Minimum rate of return required.
Highwater Mark
Net asset value (NAV) level required.
Highwater Mark Frequency
Frequency at which the highwater mark is adjusted.
Use the following table to define each performance fee:
Description
Description of the fee.
Unit
Select from Amount, Percentage, and Basis Points.
Value
Amount of the fee.
Frequency
How often the fee is charged.
Click Add a new row to define another fee.
Click Save.
Sale Information
Use the following table to complete this section:
Sales Process
Select Contingent or Non-Contingent.
Offering Start Date
Select the date on which this offering will be available.
Offering End Date
Select the date on which availability will end.
Minimum Amount
(Optional) Enter minimum investment.
Maximum Amount
Enter maximum investment.
Click Save.
Last updated
Was this helpful?