The document outlines the expenses associated with the formation and operation of investment funds managed by iCapital Advisors, LLC. It details the types of expenses that the Private Access Fund and Direct Investment Funds will bear, including management fees, organizational expenses, taxes, and costs related to audits, legal services, and insurance. The document also mentions that limited partners will indirectly bear certain costs related to the Private Access Fund's investments in Underlying Funds.
documents/EFTA01386497.pdf
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