Question 1

What is a closed-end feeder fund?

Accepted Answer

A closed-end feeder collects commitments from a defined investor base and invests them into a master fund as a single limited partner, giving those investors a clean route into the strategy without changing the master's structure.

Question 2

What structure does Titanbay use for a feeder?

Accepted Answer

A Luxembourg SCSp-RAIF compartment, under Titanbay's in-house CBI-authorised AIFM, on the same operating model that runs the master fund.

Question 3

What is the difference between a feeder and a feeder with a blocker?

Accepted Answer

The operating model is identical. A feeder with a blocker adds a Luxembourg corporate layer between the feeder and the master to reduce tax leakage for investors sensitive to the master's domicile.

Question 4

Does a feeder change the master fund's structure?

Accepted Answer

No. The master's GP, cap table and reporting stay the same. The feeder is an additional compartment that aggregates investors into a single LP line.