Evergreen Funds – Comparative Analysis

Macfarlanes is a pre-eminent law firm advising a global client base across Private Capital, Private Wealth, M&A and Disputes. We are large enough to handle the most complex and demanding mandates yet focused enough to remain agile and responsive. Our size enables us to know each other well, collaborate seamlessly and adapt quickly to our clients’ evolving needs. Our independence shapes the way we work. We foster genuine partnership, encourage individual responsibility and empower our people to think creatively in pursuit of practical, effective solutions.

Explore Firm Details

We have advised on the launch of a significant number of evergreen funds in recent years, particularly in the private credit space.

United Kingdom Finance and Banking

Pete Chapman,Chris Daniel,Lora Froud

+5 Authors

Article Insights

Pete Chapman’s articles from Macfarlanes LLP are most popular:

within Finance and Banking topic(s)
with readers working within the Banking & Credit and Law Firm industries

Macfarlanes LLP are most popular:

within Energy and Natural Resources topic(s)
with Senior Company Executives and HR

We have advised on the launch of a significant number of evergreen funds in recent years, particularly in the private credit space.

In this note, we summarise some of the key features of the three different models of evergreen funds that we most commonly see in the market:

vintage models that closely follow closed-ended fund concepts, with investors “rolling” directly from one vintage to the next without having to make a fresh commitment;
NAV-based subscription models, with exit achieved through a run-off mechanism; and
pure NAV-based open-ended structures.

Download pdf

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

[View Source]

Authors