Diligence before
the wire clears.
The fund is a structure, not a label.
A Shariah-aligned fund is more than a permissible portfolio. Its mandate, governing documents, economics, financing arrangements and investment process all have to hold together.
We advise GPs building funds and LPs allocating into them — reviewing the vehicle and the businesses underneath it, from formation and fundraising through to exit.
What comes up in private equity.
- Leverage at the target.A clean fund can still hold a company financed on conventional debt. Where the threshold sits, and what happens when a holding drifts past it, has to be settled before the deal.
- Bridge and subscription lines.Short-term facilities are where an otherwise sound fund most often picks up interest.
- Preferred return.A hurdle that behaves like a guaranteed coupon is a different instrument from a share of profit, whatever the term sheet calls it.
- Exits and purification.What has to be calculated, evidenced and given away before a distribution reaches an investor.
We publish the standard.
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