The economics of SPV management across different vehicle sizes, including fee structures that align with operational costs at $500K, $2M, and $10M+ scale
Securities regulation compliance under Regulation D, including the practical differences between Rule 506(b) and Rule 506(c), accredited investor verification requirements, and state-level Blue Sky filings
Jurisdiction selection frameworks comparing Delaware LLC and Cayman exempted company structures, with formation costs, compliance requirements, and decision criteria for domestic versus offshore entities
Understanding fee structures across different vehicle sizes and why standard 2/20 economics require adjustment at small scale. This lesson covers management fee revenue models, operational cost drivers, and the break-even thresholds that determine sustainable fee structures from $500K through $10M+ vehicles.
Comprehensive comparison of Delaware LLC versus Cayman exempted company formation, including cost breakdowns for entity formation, annual compliance requirements, and the specific scenarios where offshore structures provide meaningful advantages over domestic entities. This lesson provides decision frameworks based on LP composition, deal size, and tax considerations.
Navigating Regulation D exemptions for private placements, with detailed guidance on Rule 506(b) versus Rule 506(c) selection criteria, accredited investor verification methods, Form D filing requirements, and state-level Blue Sky compliance across multiple jurisdictions. This lesson explains the regulatory framework that governs SPV offerings.
The complete formation process from entity establishment through capital deployment, including entity formation procedures, investor documentation collection, wire coordination, and portfolio company investment execution. This lesson provides realistic timelines for each phase and identifies the operational bottlenecks that commonly extend formation periods.
Ongoing operational requirements for SPV management, including annual tax compliance and K-1 distribution, quarterly investor communication, secondary transfer procedures, pro-rata participation decisions, and exit preparation. This lesson covers the management activities that span the 7-10 year holding period and determine whether limited partners choose to invest in future vehicles.
