18 Vehicles Investing Alongside the Fund To accommodate legal, tax, regulatory or other con- siderations of certain investors, GPs should be able to form pooled investment vehicles, parallel or alter- native investment vehicles as necessary. Alternative vehicles should be managed by the GP or an affiliate and should be governed by documents containing substantially the same terms and provisions as the original fund. Alternative vehicles should not provide GPs with ad- ditional economic benefits that are disproportionate to the additional economic benefits received by LPs. GPs should provide LPs participating in alternative ve- hicles a copy of documents governing the alternative vehicles at least 10 business days before signing. Investments by such additional vehicles should be made at the same time as the fund. Any investment expenses and fee income related to the investment should be shared between the fund and any parallel or alternative investment vehicles in proportion to capital committed. The fund and parallel vehicles should sell their inter- ests in the portfolio company at the same time and on the same terms as the investment by the fund, save for legal, tax, regulatory or other considerations. Investment results of any alternative vehicles should be aggregated with the investment results from the fund for the purpose of determining distributions, un- less the GP determines with the consent of the LPAC that such aggregation increases the risk of adverse tax, legal or regulatory consequences. The fundraising period should terminate within a rea- sonable period of time following the initial close, e.g., 12 months. In the interval between initial and final close, interest should be charged on subsequent LPs committing to the fund. Such interest should be cred- ited to the investors in the initial close on a pro rata basis and not treated as an asset of the fund. FUND TERM AND STRUCTURE