• XA Investments advises fund sponsors and helps them carefully consider the benefits and risks before launching an interval or tender offer fund.
• XA Investments recognizes that success in launching an interval fund is more art than science but will help clients take certain steps that make success more likely.
• XA Investments, through its registered closed-end fund structuring and consulting practice, serves clients in engagements ranging from full product builds to marketing services. XA Investments provides full product launch services, including management of the fund development, regulatory and board approval, distribution planning and offering timetable. XA Investments has expertise in registered closed-end funds including U.S.-listed CEFs, interval funds, tender offer funds and London-listed funds.
• XA Investments offers candid, concrete recommendations custom tailored to a fund sponsor’s situation and investment strategy. XA Investment’s team of CEF experts can help asset managers with the following challenges:
• Assessing whether the structure is a good fit for the underlying strategy - as well as for the advisor audience
• Competitor and market analysis and fund structuring advice
• Developing interval and tender offer fund seeding strategies and scaling opportunities
• Converting an existing private fund to an interval or tender offer fund
• Assessing and providing guidance on operational needs and challenges
• Assisting with service provider due diligence and selection
• Executing on launch and conversion strategies
• Assessing sales team alternatives including build, buy or rent
• Marketing assistance with tailoring/targeting the sales message to advisor communities interested in interval funds
• Assistance with the RIA platform additions and wirehouse fund evaluation process
• Targeting the right advisors and distribution channels
• Resources for advisor and investor education

XA Investments typically spends 30-60 days working closely with its clients to help them make an educated decision on a new product launch.

Yes. XA Investments will spend valuable resources and time to make sure the client firm is equipped to make the best decision on moving forward with a fund launch. Fees incurred for a feasibility study will be waived if XA Investments is engaged for a full-service consulting engagement.

No. XA Investments will use each feasibility study to guide clients through the information needed to decide if engaging XA Investments to launch a fund makes sense for their firm now or in the future. If a feasibility study leads a client to launch a fund within 18 months of completion of the study, the client would be obligated to engage XA Investments.

To get started, it is helpful for XA Investments to understand the proposed investment strategy and the client’s anticipated timetable for product launch. To gather necessary information, we start every feasibility study with a written client questionnaire. The rest of the input needed will be collected from weekly group meetings.