The 2021 Preqin Private Capital Fund Terms Advisor is the ultimate guide to private capital fund terms and conditions. It draws upon extensive research and contains analysis, benchmarks, investor opinions, listings of funds and their terms (on an anonymous basis), and more.

The 15ᵗʰ edition of The Preqin Private Capital Fund Terms Advisor (FTA) compiles data from a broad range of sources – our current databases, historical datasets, and LP surveys – to deliver the industry’s most comprehensive data and intelligence on the private capital fund terms universe. In addition to providing data on key topics, such as fees, governance, and transparency.

Use this report to:

• View fund terms in the context of the broader market
• Understand LP expectations around fund terms
• Review or build benchmarks for different fund types, geographic foci, and sizes
• Conduct extensive analysis on management and performance fees, fund formation and costs, governance, and more
• Anticipate changes to terms and conditions by understanding how they have evolved over time

Coverage

Alongside a subscription to our extensive fund terms listings on Preqin Pro, with your copy of The Preqin Private Capital Fund Terms Advisor, you’ll have access to: 

• An Excel data pack containing over 4,400 anonymized fund terms listings, net cost listings for nearly 1,800 funds, and fund formation assignments for 51 law firms
• Current LP views on fund terms and conditions acquired from our June 2021 investor survey
• Up-to-date fund benchmarks for each private capital fund type
• A larger pool of historical fund terms data accessible via Preqin Pro

This year’s report is based on data from more than 4,400 funds, 28% of which are either vintage 2020, 2021, or currently in market, with total capital raised or targeted at $896bn.

How to access the report

This publication is now part of the Preqin Insights+ subscription offering.