What are the different documents investors are signing?

Operating Agreement (OA), Subscription Agreement (SA), and Tax Identification Document

Operating Agreement

This document governs the relationship between all the investors and managers of the SPV. The operating agreement outlines the terms of the investment into the SPV. It outlines the responsible parties, economic terms such as carried interest and management fees, and the proves of commitment of capital and distributions to investors.



Subscription Agreement

This document covers the committing of capital to the SPV by the investors. It contains key investor representations, as well as key investor information and commitment amount.



Tax Documents (W9, W8-BEN, & W8BENE)

Below is a W9, if the investor is a US citizen or permanent resident, they will need to fill this out for their tax identification.



W8-BEN is a tax identification for an investor who is a Nonresident Alien (NRA).



 W8-BENE needs to be filled out for foreign entities