Single-asset funds pool capital from multiple investors to invest in a single security, transaction or acquisition. As managers continue to explore offerings beyond traditional strategies and fund structures, they frequently pursue opportunities through vehicles designed to acquire a single asset. Distinguished from funds that invest in many assets and transactions, single-asset funds involve unique legal, regulatory and operational challenges. In a guest article, Eileen Overbaugh, partner at Lowenstein Sandler, examines these challenges, including in the context of structure; fees and expenses; term and liquidity; and follow-on investments and restructurings.

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