Compared to traditional closed-ended funds, the success of evergreen funds depends more heavily on the fund manager’s continuous capital deployment capabilities, investment knowhow, and platform size – making manager selection critical. In particular, three aspects must be considered when evaluating evergreens:
Liquidity management: While evergreen funds allow for periodic redemptions, liquidity is not guaranteed and must be managed effectively – especially if many investors seek to exit at once.
Expertise and deal flow: The long-term success of an evergreen fund depends on the manager’s ability to continuously source high-quality deals, maintain deployment pace (as capital inflows often incur monthly), and ensure diversification.
Valuation discipline: Equally important is the manager’s ability to value assets accurately and frequently, as most evergreen funds provide monthly unit pricing.
The core-satellite playbook
By combining closed-ended and evergreen funds, investors can build a Private Markets portfolio that is both easily accessible and strategically focused. This is often referred to as a "core-satellite" model. Evergreen funds can reflect the broadly diversified core of the portfolio, while closed-ended funds serve as satellites, allowing for targeted investments in specific sectors, geographies, or strategies.
The core-satellite model enables effective capital management (as exemplified below). Distributions from closed-ended funds can be reinvested into evergreens to keep capital deployed and maintain the desired allocation. Conversely, capital in evergreens can be redirected to closed-ended opportunities when the right ones arise.
iAccess Partners connects Private Markets funds with the next growth frontier in the industry – private wealth. We enable funds to broaden their investor base by accessing qualified individual investors.
Our legal and financial structure is set up to optimize 3 aspects of the investment process:
Efficient handling of smaller Private Markets investments
Regulatory compliance and adherence
Minimized counterparty risk
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Our fee structure
Initial access fee (one-off)
Covering fund screening/sourcing, fund term negotiation, SPV set-up, investment execution
1.00-1.25%
All-in fee*
Maintenance fee (yearly)*
Covering portfolio reporting, fund valuations, capital call servicing, distributions
0.45%
All-in fee*
*Costs of third-party providers (e.g., structuring, auditing, asset management, paying agent) are excluded from this fee
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Connecting you to private wealth
We work with the breadth of Private Markets fund managers:
We aggregate multiple smaller-ticket investors and act as a single investor in your fund - streamlining your operations. As a turnkey solution, iAccess Partners manages investor onboarding, capital calls, and offers comprehensive performance reporting tools.
Private Equity funds
Private Debt funds
Private Infrastructure funds
Private Real Estate funds
Venture Capital funds
Flexibility across fund types:
Closed-ended funds
Evergreen funds
The role of private investors
Private investors are becoming increasingly important for Private Markets funds
Private wealth reflects the next growth frontier of Private Markets
Private investors make up >50% of total capital, but exhibit minimal Private Markets exposure