This white paper distills closed-end funds’ regulatory framework and operational considerations for existing and prospective closed-end fund asset managers. It will guide you through regulatory intricacies, offering comparisons between interval funds and tender offer funds along the way. It will also connect their structure with an examination of how closed-end funds should be approached from a distribution perspective.

This white paper will discuss:

• The history of these investment vehicles and why they came about
• The intricacies of interval funds
• The intricacies of tender offer funds
• The differences between interval and tender offer funds
• How to launch an interval or tender offer fund
• Distribution of a closed-end fund