Offering terms vary based on fund type:
For Limited Partnership (LP) Funds, Offering Terms has the following subsections:
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 identifers 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.
Security Settings are part of the Launch New Offering payload.
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.
Minimum Investment values are part of the Launch New Offering payload.
The Fee Information section covers fees for:
management
investor servicing
any other fees that are not performance based
Fees are grouped by named templates. Each template defines one or more named fees.
Click Add Template.
Enter a template name that identifies this group of fee definitions. For example, you might enter "Standard" or "Baseline."
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."
If you do not want to define tiers for this fee, skip to step 10.
Enter Min and Max amounts for the tier.
Click Add new tier.
Repeat steps 7 and 8 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 11-13. Click Save when all entries are entered for all tiers.
To add another fee template, return to step 1.
Fee Information is part of the Launch New Offering payload.
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.
Performance Fees are part of the Launch New Offering payload.
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.
Sale Information is part of the Launch New Offering payload.
For LLC funds, Offering Terms has the following subsections:
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
LLC Unit Shares for Limited Liability Companies.
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.
Price Type
At NAV (Prior Period)
Select to base on NAV of prior period.
At NAV (Next Period)
Select to base on NAV of next period.
Closing Frequency
Select from Daily, Weekly, Monthly, Quarterly, Semi-Annually, Annually, Other.
External Identifiers
(Optional) Click Add identifiers table to provide any supported identifiers.
Identifier Name
Select from ISIN, CUSIP, or Ticker.
ID
Enter the ID for the selected identifier type. Click Add a new Row to include multiple identifiers.
Click Save.
Security Settings are part of the Launch New Offering payload.
Use the following table to complete this section:
Name
Name of the share class.
Class ID
Share class ID generated by the platform when the security is issued. Display only.
Frontend
Frontend fee (%) for the share class.
Backend
Backend fee (%) for the share class.
Eligibility
Select from Brokerage, Institutional, Advisory, Other.
Min Investment
Minimum investment for the share class.
Allow investments below the minimum amount to be accepted
Description
(Optional) Supporting text providing details about the share class.
External Identifiers
(Optional) Click Add identifiers table to provide any supported identifiers.
Identifier Name
Select from ISIN, CUSIP, or Ticker.
ID
Enter the ID for the selected identifier type. Click Add a new Row to include multiple identifiers.
Class includes other fees
Select if you want to display a table for additional fees.
Description
Description of fee.
Unit
Select from Amount, Percentage, Basis Points.
Value
Enter the fee.
Frequency
Select from Weekly, Monthly, Quarterly, Semi-Annually, Annually, One-Off, Other.
Click Add Unit/Share Class to provide the above information for another share class.
Click Save.
Unit/Share Class Information is part of the Launch New Offering payload.
Use the following table to complete this section:
Dividend Option
Select from Mandatory Dividend, Discretionary Dividend, No Dividend.
Percentage
For Mandatory Dividend, enter the percentage of the dividend.
Payment Schedule
For Mandatory Dividend, select from Monthly, Quarterly, Semi-Annually, Annually, On Conversion / Maturity.
Dividend Type
For Mandatory, select from Cumulative, Non-Cumulative.
Click Save.
Dividend Options are part of the Launch New Offering payload.
To add fees:
Click Includes management fee.
Use the following table to define a management fee:
Description
Description of the fee.
Value
Amount of the fee.
Unit
Select from Amount, Percentage, and Basis Points.
Frequency
How often the fee is charged.
To add multiple management fees, click Add a new row.
To add a performance fee, click Includes performance fee.
Use the following table to define a 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.
To add an additional performance fee, click Add a new row.
To add a fee that does not fall under the category of management or performance, click Includes other fee.
Use the following table to define a custom fee type:
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.
To add an additional custom fee, click Add a new row.
Click Save when all fees are defined.
Fee Information part of the Launch New Offering payload.
Use the following table to complete this section:
Sales Process
Select from Non-Contingent, Continuous.
Offering Start Date
Select the date on which the offering will start.
Offering End Date
For Non-Contingent, select the date on which the offering will end.
Maximum Amount
Enter the maximum investment.
Click Save.
Sale Information is part of the Launch New Offering payload.
For SCorp, CCorp, Ltd., and Trusts, Offering Terms has the following subsections:
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
Equity is the selection for funds that are not LP or LLC funds.
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.
Price Type
At NAV (Prior Period)
Select to base on NAV of prior period.
At NAV (Next Period)
Select to base on NAV of next period.
Closing Frequency
Select from Daily, Weekly, Monthly, Quarterly, Semi-Annually, Annually, Other.
External Identifiers
(Optional) Click Add identifiers table to provide any supported identifiers.
Identifier Name
Select from ISIN, CUSIP, or Ticker.
ID
Enter the ID for the selected identifier type. Click Add a new row to include multiple identifiers.
Click Save.
Security Settings are part of the Launch New Offering payload.
Use the following table to complete this section:
Name
Name of the share class.
Class ID
Identifier assigned by the platform once the fund is launched.
Frontend
Frontend fee (%) for the share class.
Backend
Backend fee (%) for the share class.
Eligibility
Select from Brokerage, Institutional, Advisory, Other.
Min Investment
Minimum investment ($) for the share class.
Allow investments below the minimum amount to be accepted
Description
(Optional) Supporting text providing details about the share class.
External Identifiers
(Optional) Click Add identifiers table to provide any supported identifiers.
Identifier Name
Select from ISIN, CUSIP, or Ticker.
ID
Enter the ID for the selected identifier type. Click Add a new Row to include multiple identifiers.
Class includes other fees
Select if you want to display a table for additional fees.
Description
Description of fee.
Unit
Select from Amount, Percentage, Basis Points.
Value
Enter the fee.
Frequency
Select from Weekly, Monthly, Quarterly, Semi-Annually, Annually, One-Off, Other.
Click Add Share Class to provide the above information for another share class.
Click Save.
Share Class Information is part of the Launch New Offering payload.
Use the following table to complete this section:
Dividend Option
Select from Mandatory Dividend, Discretionary Dividend, No Dividend.
Percentage
For Mandatory Dividend, enter the percentage of the dividend.
Payment Schedule
For Mandatory Dividend, select from Monthly, Quarterly, Semi-Annually, Annually, On Conversion / Maturity.
Dividend Type
For Mandatory, select from Cumulative, Non-Cumulative.
Click Save.
Dividend Options are part of the Launch New Offering payload.
To add fees:
Click Includes management fee.
Use the following table to define a management 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.
To add multiple management fees, click Add a new row.
To add a performance fee, click Includes performance fee.
Use the following table to define a 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.
To add an additional performance fee, click Add a new row.
To add a fee that does not fall under the category of management or performance, click Includes other fee.
Use the following table to define a custom fee type:
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.
To add an additional custom fee, click Add a new row.
Click Save when all fees are defined.
Fee Information is part of the Launch New Offering payload.
Use the following table to complete this section:
Sales Process
Select from Non-Contingent, Continuous.
Offering Start Date
Select the date on which the offering will start.
Offering End Date
For Non-Contingent, select the date on which the offering will end.
Maximum Amount
Enter the maximum investment.
Click Save.
Sale Information is part of the Launch New Offering payload.
