The Luxembourg-Cayman parallel fund structure is increasingly a preferred product for sophisticated managers seeking to access European, US and Asian capital.
Parallel funds co-invest and divest alongside the main fund, usually on a pro-rata basis per their commitments, so a manager has two funds side by side which invest and divest at the same time in a common portfolio of assets. The terms on which the parallel fund operates are similar to the terms of the main fund, which means that the parallel fund has a common investment policy and common asset targets to the main fund. The differences between them are mainly due to regulatory or operational reasons.
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