Frequently Asked Questions

These Frequently Asked Questions (FAQs) are for informational purposes only and do not replace or amend the Membership Agreement or the documents applicable to each transaction or structure, which shall prevail in all cases.

Secondary transactions in the Club

Secondary transactions are the internal mechanism that allows a member to sell, and another member to buy, exposure to an asset already held within a Club structure. They are not a public market, not an exchange, not an automatic matching system and do not guarantee liquidity, counterparty, execution or price.

Secondary transactions in the Club

6.1What are they and what are they not?

6.2Why do they exist?

6.3How does the system work?

6.4What information is shared?

6.5How does pricing work?

6.6Who can sell and who can buy?

6.7How is a transaction executed?

6.8When can an offer no longer be withdrawn?

6.9Settlement and payment

6.10Limits of the system

6.11Role of the Club and SPS