$100MTarget Size
$120MHard Cap
5-YearDeployment
8+2Year Life
3.0%GP Commit
Key Terms
Offering at a Glance
Fund Size
$100M
Target fund size with $120M hard cap
Delaware Limited Partnership
Management Fee
1.0% + 5%
1.0% of invested capital plus 5% of portfolio EBITDA
Aligned with portfolio performance
GP Commitment
$3.0M
3.0% GP commitment ensuring alignment of interests
Skin in the game
Deployment Period
5 Years
Capital deployment period for platform and add-on acquisitions across targeted legal verticals
Investment Life
8 Years
Base term with two 1-year extension options (8+1+1) providing flexibility for value maximization at exit
Carried Interest
Performance-Tiered Carry Structure
Tier I — Base
20%
Over 1.5x MOIC
Tier II — Accelerator
25%
Over 3.0x MOIC
Tier III — Super Carry
40%
Over 5.0x MOIC
| Carried interest over 1.5x MOIC hurdle | 20% |
| Carried interest over 3.0x MOIC hurdle | 25% |
| Carried interest over 5.0x MOIC hurdle | 40% |
Complete Terms
Full Offering Summary
Pillar Growth Partners Fund I, LP
Summary of Principal Terms
| Fund Size | $100M target / $120M hard cap |
| Management Fee | 1.0% of invested capital + 5% of portfolio EBITDA |
| Carried Interest |
20% over 1.5x MOIC 25% over 3.0x MOIC 40% over 5.0x MOIC |
| GP Commitment | $3.0M (3.0%) |
| Deployment Period | 5 years |
| Investment Life | 8 years (2x 1-yr extension) |