What is a mini master fund structure?
Mini-Master: The mini-master structure generally is comprised of two entities; an offshore feeder and a master entity. While the offshore feeder is taxed as a corporation to benefit U.S. tax exempt investors and block UBTI, the master entity may be structured for tax purposes as a partnership.
What is meant by feeder fund?
A feeder fund is a one-of-a-kind investment vehicle that does not make direct investments. This is a type of mutual fund that invests in debt or equity securities. It is a pool of money that generates capital for master funds.
What is master feeder fund in private equity?
Master-feeder structures are investment structures whereby domestic and foreign investors choose to invest in a master fund that combines their assets. Usually, the first step is for investors to invest in feeder funds, which, in turn, inject the capital into the master fund managed by the investment manager.
What is a feeder company?
A feeder fund (“Feeder”) is an investment vehicle, often a limited partnership, that pools capital commitments of investors and invests or “feeds” such capital into an umbrella fund, often called a master fund (“Master”), which directs and oversees all investments held in the Master portfolio.
Who does AIFMD apply?
The Alternative Investment Fund Managers Directive (AIFMD) is a regulatory framework that applies to EU-registered hedge funds, private equity funds, and real estate investment funds.
What is master-feeder fund in private equity?
What is the difference between feeder fund and fund of fund?
That separates them from traditional MF schemes that invest into securities, equity or fixed income. There are different types of FoFs available for investors in India. A feeder fund is a special type of FoF that invests into a specific single fund such as a global fund.
What are feeder entities?
Feeder Entity means a Limited Partner that is managed and controlled by the General Partner for the benefit of one or more investors that are not Interested Persons.
What is the feeder?
1 : one that feeds: such as. a : one that fattens livestock for slaughter. b : a device or apparatus for supplying food.
What is Annex IV filing?
Under Annex IV of AIFMD, all authorised and registered fund managers must report transparency information on their funds to local regulators for each country they market in. But this isn’t a simple process – reporting requirements differ for each jurisdiction and the nature of the fund.
What is a feeder fund?
A feeder fund is one of many smaller investment funds that pool investor money, which is then aggregated under a single centralized master fund. Consolidation of feeder funds into a master fund allows for reductions of operation and trading costs, and a larger portfolio has the added benefit of economies of scale.