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Portfolio Strategy

Fundamentals: Simple Answers to Complex Questions

Our series on the fundamentals of private markets focuses on some of the most commonly asked questions.

What are Cash Flows Like for Private Market Funds?
Cash flows in private investing are very different than those on the public side. Learn more about the lifespan of a fund, commitments and distributions, and how different strategies can offer different cash flow patterns.

How do Private Market Fund Fees Work?
Private market funds charge two types of fees: a management fee and a performance fee. Learn about the differences and how the distribution waterfall works.

What are the Strengths of Different Private Fund Investment Strategies?
There are three main ways in which investors can access private market investments: primary investments, secondary investments, and co-investments. These strategies are complemented by other private market fund types, including private credit and real assets funds, which each have their own investment profiles. This piece explains the basics of each strategy.

How are Private Market Funds Structured?
Regardless of the strategy, most private market funds have similar structures that reflect the unique characteristics of private investments. Dive into what a limited partnership is and why a closed-end fund structure is crucial.