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GLOSSARY All | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Valuation Method Policy guidelines to value the holdings in a fund: venture funds typically hold the value of their portfolio companies at cost pending a write-up based on an arm’s length transaction or a write-down due to impaired operations at the general partner’s discretion; buyout funds typically mark their portfolio companies to market based upon discounted comparable public multiples at the general partner’s discretion and usually under advisement of the advisory board; real estate funds typically mark their property investments to market using a third party on an internal appraisal process, usually under advisement of the advisory board. Value Added Real Estate Fund A marketing term used to describe a broad range of real estate funds that engage in active strategies to create value in their underlying property investments – development, re-development, lease-up of vacant space, etc. Such funds target a broad range of returns and typically use modest to high levels of leverage. Venture Capital Financing and operational added-value for younger, start-up companies with high growth potential. Vintage Year Year of fund formation and first drawdown of capital. |
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