Fund-of-funds General
Definition
A private equity fund that invests in multiple private equity funds.
Comments
Fund-of-funds are set-up to diversify investor money across funds with different strategies or operating in different geographies. These funds also leverage relationships and provide access to well-established private equity funds that may otherwise not be open to smaller investors. Fund-of-funds promoters layer in an additional fee on top of the fees already associated with the funds being invested in.
An example of a fund-of-funds firm is Sports Venture Partners. Set-up by ex-NFL players, Sports Venture Partners leverages its celebrity into providing access to well-known private equity firms.Referring Terms
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