01
Who you contract with
The contracting party is identified in the offering and subscription documents. It may be an issuer, fund, special-purpose vehicle or another legally identified entity.
Investor Education
How your investment
may be structured.
Plain-language questions to resolve before committing capital to a private-market investment.
Structure varies by opportunity and is disclosed in the applicable offering and subscription documentation.
02
What you may purchase
Depending on the opportunity, an investor may purchase shares, units, limited-partnership interests, debt or another security or contractual interest described in the offering documents.
03
Use of an SPV
A special-purpose vehicle may pool investors and hold an underlying security. If an SPV is used, its legal entity, governance, economics and investor rights are disclosed in the applicable documents.
04
Administration
Subscription processing, ownership records, notices and reporting follow the governing documents. The responsible parties are identified before an investment is accepted.
05
Custody
Custody arrangements depend on the asset and structure. Investors should review who holds legal title, how beneficial ownership is recorded and what protections or limitations apply.
06
Fees and expenses
Placement fees, management fees, carried interest, administration costs or other expenses may apply. The applicable amounts and calculation methods must be reviewed in the offering and subscription documents.
07
Documents you receive
Documents may include an offering memorandum or term sheet, subscription agreement, risk disclosures, organizational documents, investor representations and funding instructions.
08
If no IPO occurs
A private company may remain private, be sold, reorganize, decline in value or fail. An anticipated IPO may be delayed or never occur, and another liquidity route may not be available.
09
Liquidity restrictions
Transfers may require consent or be prohibited, and there may be no established secondary market. Investors should be prepared to hold an investment for an extended or indefinite period.
Investor Due Diligence
Before You Invest
Private-market decisions should be based on the documents for the specific investment, not website summaries or research coverage.
Verify Registration- Verify the firm's current registration and permitted activities
- Read the complete offering and subscription documents
- Understand every fee, expense and potential conflict
- Understand transfer limits, holding periods and liquidity restrictions
- Confirm who issues the investment and how the structure works
- Review the risks, including the possibility of losing all invested capital
- Complete all required KYC and AML procedures
- Seek independent legal, tax or financial advice where appropriate