Reserve Fund IV
LP Liquidity & Co-Investment Reserve
LP liquidity solutions, secondary transactions, and co-investment reserve capacity for the 2028 vintage.
Fund Size
$1.505B
Committed capital
Target Net IRR
13-18%
Over 15-year fund term
Strategy
LP Liquidity & Co-Investment Reserve
Reserve Fund IV holds committed capital dedicated to LP liquidity solutions, secondary transactions, and co-investment reserve capacity across the 2028 vintage investment fund vehicles.
The fund is structured as a Delaware Limited Partnership with a discrete general partner entity, independent LPA, and audited financials prepared by PwC. Telvo Capital Management, LLC serves as investment manager.
Terms
Institutional fund terms.
StructureDelaware Limited Partnership
Investment ManagerTelvo Capital Management, LLC
Fund Size$1.505B
Term15 years plus two 1-year GP extensions
Investment Period5 years from initial close
Preferred Return8% per annum
Carried Interest20% with 100% GP catch-up
WaterfallEuropean whole-fund
LP Minimum$10 million
Target Net IRR13-18%
AuditorPwC
Legal CounselLePore Law Group
Key PersonAlexandra Pohl
Institutional Capital