CFA Practice Question

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CFA Practice Question

The Private Equity provisions apply to all of the following except for ______.

I. buy-out investing
II. evergreen funds
III. fund-of-funds investing
IV. secondary investing
Correct Answer: II

User Contributed Comments 6

User Comment
wuyi Secondary investing: the purchase of pre-existing limited partnership interests and direct private equity investments. The market develops as a result of investors, who for external reasons, were forced to seek an early exit for their private equity holdings at a discount to fair market value.
viannie Private Equity provisions do not apply for open-end funds and Evergreen funds. For these two types of funds, general GIPS standards applies.

shiva5555 What is an evergreen fund?
geofin (Evergreen fund) A fund in which returns generated on investments are automatically returned to the general pool, with the aim of keeping a continuous supply of capital on hand for investments.
johntan1979 Evergreen = always green = always have greenbacks at hand for investment
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