Glossary
Fund term extension
An extension of a fund's life beyond its stated term — commonly one or two one-year extensions — to allow remaining investments to be realised.
In practice
Extensions usually require GP discretion for the first and LP or LPAC consent for later ones, and may change fee terms. Continuation funds are an alternative.
In FUN/D
FUN/D tracks term and extension dates per fund and the fee changes that come with them.
Related: Continuation fund · LPAC · Investment period · full glossary
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