The world of private investment funds has been evolving to address the specific goals and expectations of investors, including pension plan sponsors and other investors with specific regulatory and economic needs. As a result, the industry has been moving away from traditional private equity or hedge funds to more complex and tailored funds and other investment products. One structure we have recently seen gain in popularity is the single investor fund (‘‘SIF’’). A SIF, also called a ‘‘fund of one,’’ is a fund vehicle created at the request of and designed specifically for a single investor or small group of affiliated investors.

Originally published in Pension & Benefits Daily, Bloomberg BNA on August 28, 2015.