Master Vehicle
A Master Vehicle, also known as Primary Vehicle, is the primary underlying investment vehicle which pools capital from individuals or entities, including Feeder Vehicle, to invest in a portfolio of assets.
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Feeder Vehicle
A separate investment vehicle that enables one or more individuals or entities to pool and invest capital in a specific Master Vehicle(s), without being involved in the portfolio management decisions of the underlying Master Vehicle(s).
Parallel Vehicle
A separate investment vehicle that enables one or more individuals or entities to pool and invest capital together alongside other investors in another vehicle, or pool of assets, with the ability to control their exposure to the underlying portfolio.