Bell Rock glossary
Offering Memorandum
The document offering interests in a fund, describing its strategy, terms, risks, fees and conflicts.
The offering memorandum, or private placement memorandum (PPM), is the document under which interests in a fund are offered to investors. It describes the investment strategy, key terms, risk factors, fees and expenses, conflicts of interest, service providers and subscription and redemption mechanics. It is both a marketing and a disclosure document: for regulated Cayman funds it must give investors the information needed to make an informed decision, and accurate, complete disclosure protects the manager as well as the investor.
Related guidance
Side Letter · Company Secretary
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