# Evergreen Fund * https://www.institutionalinvestor.com/article/b15jkqt382wm4r/why-critics-are-slamming-an-increasingly-popular-private-equity-format * [[Sutter Hill Ventures]] worked with [[Yale]] to develop an evergreen fund that they also use with [[Golden Gate Capital]] * [[Greybull Stwardship]] has a 40-year life cycle * [What is an Evergreen Fund Structure?](https://www.axial.net/forum/evergreen-fund-structure/) * [Permanent (Evergreen) Capital Structures For Private Equity / Venture Capital Funds](https://act.vc/permanent-capital/) ### Notes * Evergreen fund sets a budget, not a management fee * Need to plan fundraising * NAV prices units * ~4 year intervals — need to convince LPs of value? ### Questions * When are people allowed to exit? * Windows to change commitment * How do you price the shares? * Is there any difference between an LLC with units and an evergreen fund? <!-- #stub/backlink-collector --> [Web URL for this note](http://notes.benjaminreinhardt.com/Evergreen+Fund) [Comment on this note](http://via.hypothes.is/http://notes.benjaminreinhardt.com/Evergreen+Fund)