Fund lifecycle and operations

Distribution

A distribution is cash or securities transferred from a fund to its LPs under its governing documents. Distributions may reflect realized proceeds, income, or return of capital; the waterfall determines any carry and other allocations.

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Knowing the language helps you follow the conversation. Knowing what to ask is how you participate in it.

Understanding the terms is a first step. The Aligned Capital Program uses them to teach you how to evaluate a fund and prepare the questions to ask its manager.

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