Philipp Schenk
Articles
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Feeder Fund (or Access Fund)
A financial instrument that grants individuals access, often for a fee, to an underlying private market fund, typically with a lower minimum investment requirement than what is needed for the origi...
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EBITDA
Earnings before interest, taxes, depreciation and amortisation. EBITDA is a measure of a company's performance that enables a better understanding of the generation of free cash flow.
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Capital Distributions
A distribution from the fund. Distributions are primarily made after the realisation of investments, but can also be made after other income events, such as interest or dividend payments. Distribut...
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Unrealized Value
The unrealized value of a fund represents the current value of assets that have not been sold, indicating the potential profit or loss if the assets were sold at that moment. It reflects the curren...
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Qualified Purchaser
The term "Qualified Purchaser" typically refers to specific requirements for institutional investors in the United States under the Investment Company Act of 1940. In Germany, similar concepts may ...
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Qualified Client
In general, "Qualified Client" refers to a qualified customer or investor who meets certain requirements based on their financial situation or qualification. These requirements may be set by financ...
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Opportunistic Real Estate Strategy
An investment approach that primarily targets properties in need of significant rehabilitation or facing substantial capital constraints. It may also involve ground-up development projects. Opportu...
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J–Curve
Investment instruments are financial assets you can invest in to achieve financial goals. Common ones include stocks, bonds, mutual funds, real estate, and savings accounts. Each has its own risk a...
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Investment certificate / Subscription certificate
An investment certificate or subscription certificate is a document that serves as evidence of ownership or participation in an investment or financial product, typically a fund or investment vehic...
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Investment process / Subscription process
The investment process, also known as the subscription process, is the series of steps an investor follows to commit funds to a specific investment. It includes due diligence, selecting an investme...