Reset and refresh: the economic joys of continuation vehicles
22.04.2025 – Articles
A CV is perhaps the fastest route to managing a new and large fund, which in turn means almost instant fee generation.
Private capital fund managers are in the business of launching funds. Funds generate fee revenue, which keeps the engine running. Of course, the big pay out at the end of a fund’s life is the ultimate objective, but it’s a long road to get there. In the shorter term, and especially from a CFO’s perspective, when one revenue stream ends another needs to begin.
And here’s where continuation vehicles (CVs) are playing an increasingly important role, especially when raising blind pool funds is stubbornly onerous.