Anyone able to define open-ended vs close-ended fund for PE firms?

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Comes down to fund term and liquidity. Open ended is more liquid as investors can withdraw at any time or sell their commitment through the secondary market, and the funds life span is indefinite. Closed end funds lock up capital 7-10 years, where only a limited group from the initial marketing period can subscribe, along with there being a hard cap on fund size typically.

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Pe funds are basically never open needed. They have a fixed closing date and then a fixed fund life. There are some rare exceptions like evergreen funds but those are so rare they are almost irrelevant

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