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Foreside Connections Webinar: Understanding Interval and Tender Offer Funds


During our recent webinar, Foreside & Faegre Drinker Biddle & Reath LLP discussed regulatory framework, and operational and distribution considerations associated with interval and tender offer funds.

Closed-end interval and tender offer funds constitute an important segment of the investment industry. Unlike traditional closed-end funds that are exchange-traded and do not issue/redeem shares, interval and tender offer funds continuously offer shares and allow the issuer to repurchase shares from shareholders at set intervals or at their discretion, respectively.

These non-traditional closed-end funds’ regulatory and investment features straddle between private funds (e.g., private equity and hedge funds) and open-end funds (e.g., mutual funds and exchange-traded products). Their unique structure allows asset managers to deliver alternative and illiquid investment strategies to a broad investor base.

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