Qualifying Private Fund Sample Clauses

Qualifying Private Fund. An unaffiliated private fund invested in an account that: (i) is managed by an investment adviser; (ii) has assets greater than $50 million; (iii) owns less than 25% of the account and is not a fund in which a single investor has a beneficial interest of 25% or more; and (iv) was not formed for the specific purpose of investing in the account.