Alternative funds have long had a traditional limited partnership, closed-end structure. That works well in many circumstances, but it also has a lot of limitations. That’s why Vivaris Capital opted to create an alternative structure for its latest alternative fund.
“We're trying to bring the best of all worlds to our investors,” said J. Christopher Mizer, president and CEO. The traditional private fund structure includes a lockup period and limited liquidity thereafter. That can help capture an illiquidity premium in returns and gives the managers additional flexibility. However, it places a burden on investors . . .
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