A Guide To Permanent Capital Vehicles As Access Widens

Permanent capital vehicles are growing increasingly popular as a means of providing long-term exposure to illiquid assets such as private equity and private credit assets. Recent and anticipated regulatory reforms and evolving market trends have the potential to expand access to private markets and alternative assets, particularly for retail investors who previously were foreclosed from accessing these sectors. As policymakers initiate reforms — discussed below — that promote private market opportunities, fund sponsors are responding with innovative fund structures. As the permanent capital vehicles sector evolves and new structures proliferate, a well-formed understanding of the various investment vehicles is important.

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