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SMB investing, search fund, and co-invest playbooks. Fundraising tips and operator tactics for accredited investors and advisors.

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Showing 2 posts with tag: fee-structures

Search Fund Terms: What an LP Nets at 2x, 3x, 5x

The same exit pays an LP a different amount depending on the structure. A waterfall model at 1.5x, 2x, 3x and 5x shows where terms matter and where they don't.

Sep 26, 2026

Search Funds vs. Traditional PE: What LPs Need to Know

Search funds and traditional PE differ in check sizes, fees, governance, and return profiles. Here's a clear-eyed comparison for LP investors.

Jan 29, 2026