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Preqin holds named fund terms data for many vehicles, and many more on an anonymized basis. This can help LPs and their advisors in determining realistic prospective investment opportunities that matches their requirements, but it can also help those GPs that are looking to start up a new fund and want to make sure their proposed terms are in-line with market expectations.

Here’s where you learn what data is available and the different methods of accessing fund terms information for these two use cases.

Accessing Fund Terms Data

Within a fund profile, go to the Fund Terms tile under Overview
Use the Advanced Search in Search For > Funds and adding columns for fund terms
Use the Fund Terms tool in Search For > Funds to view anonymized terms data

Terms & Conditions in Fund Profiles

Where available, we collect named data on fund terms & conditions. The data in a fund profile is particularly useful when you’ve found what you think to be a good opportunity and want to make sure the terms are aligned to your requirements.

The information we collect in these profiles varies between private capital funds and hedge funds as shown below:

Private Capital Funds	Hedge Funds
Mgmt fee rate (%) during investment period	Min. investment (000s)
Charge frequency	Management fee (%)
Investment period (yrs)	Performance fee (%)
Mechanism for mgmt fee reductions – post-investment period	Redemption fee (%)
Special provision for larger LPs	High water mark
Carried interest (%)	Hurdle rate (%)
Carried interest basis	Hurdle rate – specified
GP catch up rate (%)	Lock-up period (months)
Hurdle rate (%)	Redemption frequency
Key man clause	Redemption notice period
Share of transaction fees rebated to LP (%)
No-fault divorce clause
LP majority required (%)
Fund formation costs (mn)
Advisory board LP representation
GP commitments to funds (% of total)
No. of LPs (min)
No. of LPs (max)
Percentage of returning LPs

Using Fund Advanced Search with Fund Terms

Fund terms information can be added to your results by using manage columns. From here you can select/deselect any terms or conditions.

Click Apply to add them to your table.

From here, you can view the fund terms information in the profile by clicking on the fund name or export your results to Excel for further analysis.

Creating Fund Terms Benchmarks

For many fund managers that are looking to bring a new fund to market, fund terms present a unique issue. Too restrictive and you risk alienating prospective LPs. Too generous and you could be losing out on profitability.

To help find that alignment between GPs and LPs we deviate from our usual named data collection methods to solve this issue.

In our Fund Terms search tool, we provide anonymous fund terms data for thousands of vehicles, allowing you to get a sense of market standards for funds you are looking to raise.

Within this search, you can filter by:

Strategy
Geographic Focus
Fund Size

The results you generate can be exported, allowing you to then create custom fund terms benchmarks with vehicles that closely match the fund you are looking to bring to market.

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