Fund lifecycle and operations

Fund Life

Fund life is the full term of a fund, set in the limited partnership agreement (LPA), from first close through wind-down. It’s often around 10 years, and many funds extend beyond it.

Example: A fund with a 10-year term and two one-year extensions could still hold companies in year 12.

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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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