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Fund Operations

What is a Fund Extension (with respect to the LPA)?

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May 03, 2023
What is a Fund Extension
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Accepted Answer
May 03, 2023
If a Fund has portfolio investments that are operating but have not exited, and the Fund Life is coming to an end,  an extension period may be needed to wait for an exit. The other option would be to distribute any privately held equity to LPs. Funds are usually created with one or two optional 1 year extensions - please see the Cornerstone LPA for more details. 

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