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Money Market Funds (MMFs)
Fund size refers to the amount of money in a particular fund: the more money in the fund, the larger the size. Fund size is determined by multiple factors including the number of investors, estimated deal size, average number of expected deals, and more. While bigger funds attract more attention and generate higher management fees, there is also greater risk involved. Some research shows that smaller funds actually generate higher IRR. Private investment fund structure Finally, as previously noted, the manager will continue to manage the asset and to receive fee and income from the asset. Management fees in continuation vehicles are often charged out at a lower rate than management fees payable on a primary fund, and carried interest is often tailored for stronger alignment. Managers will frequently push for a super carry—sometimes a higher carry percentage than the one used in the existing fund, for example, 25 percent in the continuation fund versus 20 percent in the existing fund, or a tiered carry where the carried interest percentages ratchet up to 25-30 percent as the continuation fund hits its return targets.
Private equity legal structure
Exhibit taken from Private Equity Interview Guide: Open accountSCBAM FUND CLICK Investors in the mutual fund share classes inherit a much bigger advantage. The ETF share class can purge stocks and bonds with built up capital gains through its in-kind redemption mechanism. That allows the ETF to track its target index throughout the day while cleansing its portfolio of potential capital gains distributions. The benefit extends to the stocks and bonds held by mutual fund share classes, and it’s part of the reason why Vanguard’s mutual funds with an ETF share class seldom distribute capital gains. 
Fund of Funds (FOF)
Providence Equity. "Microsoft to Acquire ZeniMax Media and Its Game Publisher Bethesda Softworks." Primark Private Equity Investments Fund Summary Overview One factor to be aware of when fundraising is getting the legals understood and streamlined. Despite open-ended funds having a potentially cleaner structure, with less interconnected entities to deal with, it can be difficult for the VC to find a lawyer that has familiarity and a track record with them. Fortunately, Rodrigo noted that the structure is easier for investors to digest and work with: “It is easier on the investor side. In closed-ended LP agreements, there can be different rules for different investors, across different funds. Our aim is to make it easy for new investors, as if they were buying stock on TD Ameritrade. There’s nothing to negotiate, just buying units.”
Private equity structure
Both private equity funds and hedge funds are restricted to accredited investors. However, the biggest differences between PE funds and hedge funds are fund structure and investment targets. Hedge funds tend to operate in the public markets, investing in publicly-traded companies while PE funds focus on private companies. Types of investment funds BROOKFIELD INFRASTRUCTURE
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