This month Old Hill’s COO, Jeff Haas, discusses private credit fund structures. The fund structure used to execute private credit investments is a fundamental element that investors should consider when evaluating a private credit fund. The fund structures that are most prevalent and that should be evaluated are the “closed” vs “open” ended fund structures. A fund that is closed-ended will have a finite life and the amount of capital raised is capped by either the passage of time or upon meeting the capital raise target. Under this structure, the life of the fund is generally known and does not continue on indefinitely. Contrast this with an open-ended structure, or what some refer to as an “evergreen” fund, which can raise capital indefinitely.