Key Takeaways
- Single-asset syndication capital raises take 60-120 days; fund formation takes 90-180 days.
- Standard entity: single-purpose LLC with sponsor as Managing Member, investors as Members.
- Required documents: Articles, Operating Agreement, PPM, Subscription Agreement, Investor Questionnaire.
- 506(b) requires pre-existing relationships; 506(c) allows advertising but requires verified accreditation.
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Test Your Knowledge
1.What is the first step in executing a capital raise?
2.What Form D filing is required after a Regulation D offering?
3.What are "blue sky" laws?