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Mentor
I would be interested to hear others perspectives but my thoughts below.
Sponsors and placement agents aren’t going to want to incur the legal risk that an investor did not receive adequate disclosure after investing in a sponsor’s fund. Bundling an offer of interests for two different funds (unless parallel) is something I have never seen. My guess is that it would be scrutinized by the SEC.
Community Builder
Makes sense to me thank you! This is a rep in a placement agreement we've included for our sponsor client and they'd like to know the purpose behind it.
Also from the perspective of the sponsor, they likely wouldn’t want to be randomly linked to another fund that they may not have chosen or vetted. I also don’t think bundling makes a lot of sense. You’d still have to negotiate side letters etc separately. Easier from an admin perspective to just keep them separate.