TY - JOUR T1 - Closed-End Private Equity Funds: <em>A Detailed Overview of Fund Business Terms, Part I</em> JF - The Journal of Private Equity SP - 33 LP - 54 DO - 10.3905/JPE.2010.13.2.033 VL - 13 IS - 2 AU - Seth Chertok AU - Addison D. Braendel Y1 - 2010/02/28 UR - https://pm-research.com/content/13/2/33.abstract N2 - With the interests of both investors and sponsors in mind, this article discusses business terms that are the subject of frequent negotiation between investors and closed-end private equity funds, with a bias toward closed-end private equity real estate funds. Where applicable, the authors note the background legal and regulatory requirements surrounding these negotiations as well as their broader views on the market. The article also explores fund economics and capital mechanics, including capital calls, fees, and expenses; various concerns faced by specific investors (such as ERISA and taxexempt investors); and confidentiality issues.TOPICS: Private equity, legal/regulatory/public policy, portfolio construction ER -