b'02AttributesStructure & Registration Asset FitContinuously offered closed-end fund registeredSuitable for less liquid credit strategies.under the 1940 Act. Works well for real estate or private credit.Time to MarketBridge between daily liquid mutual funds andfully illiquid PE funds.Six months (possibly longer if applicationfor co-investment relief is required).FeesLiquidity Base management fees: 11.75% of assets.Mandatory repurchases of 525% outstanding Incentive fees: 12.515% of income.shares at fixed intervals (quarterly; semiannual;Other fees: May include redemption fees up to 2%.annual); advance notice required.Eligible InvestorsAvailable to retail investors; minimums often~$1,000 to $50,000 depending on sponsor. To learn more about the terms, fees, strategies and structures of interval funds in the United States, read our survey.Mayer Brown|Interval Funds 12'