A fund that invests
in other funds
Commit once to a portfolio of underlying venture, growth or real asset funds. Allocations handles LP onboarding, capital calls coordinated with every underlying fund, look-through reporting and one K-1 per LP.
One commitment, a portfolio of managers
A fund of funds pools LP commitments and invests them in other private funds instead of directly in companies. The manager selects underlying funds, commits to each one, meets their capital calls and passes distributions back to LPs.
For LPs, it turns one subscription into exposure across several managers, vintages and strategies, with minimums they couldn’t meet alone. For the manager, it means tracking commitments, calls, reports and K-1s from every underlying fund.
Underlying funds call when they need to. Your LPs are called on a schedule
Each underlying fund calls capital on its own timeline. The fund of funds absorbs that irregularity: it holds a reserve, pays each underlying call as it arrives and calls LPs on a predictable cadence. The chart shows six quarters of underlying calls as a share of commitments.
Illustrative. Call cadence and reserve are set in the LPA.
From first close to one K-1
Click a step to see the manager’s view.
Formation
LP onboarding and closes
Commit to underlying funds
Coordinated capital calls
Look-through reporting
Distributions and tax
Illustrative figures.
LPs see the portfolio by fund or by company
Each underlying fund reports on its own schedule and format. Allocations collects those reports and presents the portfolio in one view, so LPs can see where their capital sits.
Illustrative figures.
Institutional access with one subscription
For LPs who want several managers without several minimums, and for managers who want to offer that in one vehicle.
Access to closed funds
Pooled commitments meet institutional minimums, so LPs reach managers they couldn’t back alone.
Diversification in one commitment
Exposure across managers, vintages and strategies, from one subscription and one K-1.
Capital calls made predictable
Underlying funds call whenever they need to. LPs are called on a cadence they can plan for.
Look-through reporting
LPs see every underlying fund and, where available, every company inside it.
One K-1
Underlying K-1s are gathered and consolidated, so each LP receives one K-1 from the fund of funds.
Fund of funds features at a glance
Formation
LP onboarding
Operations
Reporting and tax
See what Allocations customers have to say about us
“We were very impressed by how Allocations handled our SPV. We’ve tried almost all the existing platforms, and Allocations was by far the best of the breed. Thank you! We firmly believe that Allocations can become the new standard in fund creation and management.”
“Thank you team Allocations for making my climate tech dream for the average investor a reality and helping us solo GPs sleep better at night.”
“Helios Capital is proudly powered by @AllocationsInc! Kachow Lightning McQueen! As my daughter would say.”
Before your first close
Fund of funds mandates vary. Book a demo to walk through it with the team.
How do capital calls work in a fund of funds?
+Underlying funds call capital on their own schedules. The fund of funds calls its LPs on a set cadence, holds a reserve for timing gaps and pays each underlying call as it arrives. Every call is tracked against each underlying commitment.
What do LPs see?
+An investor portal with their commitment, called and uncalled capital, capital account statements and a look-through report showing each underlying fund and its portfolio.
How are the underlying funds’ K-1s handled?
+Allocations collects the K-1 from each underlying fund, prepares the fund of funds’ partnership return and delivers one K-1 to every LP.
Can the fund hold SPVs as well as funds?
+Yes. Co-investment SPVs and direct positions can sit alongside underlying fund commitments, within the mandate set in the LPA.
How many LPs can the fund have?
+Up to 249 investors for a venture fund of funds relying on 3(c)(1), or 99 for other strategies. Every fund includes unlimited closes and 30 assets.
Can I move an existing fund of funds to Allocations?
+Yes. Fund migration moves an existing fund onto Allocations, including historical records, underlying commitments and LP data, with guided support throughout.
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Allocations secondary market is operated through Allocations Securities, LLC dba AllocationsX, member FINRA/SIPC. Check this firm on FINRA BrokerCheck. Allocations Securities, LLC is a wholly owned subsidiary of Allocations, Inc.
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