{"collection_id":"a2612564-49a0-4c91-a80d-ad815b5a74cf","name":"Term Sheet","description":"The GAMS Alternative Fund Term Sheet Template is a standardised, practitioner-developed template designed to support the structuring and documentation of Luxembourg alternative investment funds, particularly those established as SCSp structures (including RAIFs, SIFs, and sub-threshold structures). It provides a non-binding summary of principal fund terms, intended to facilitate early-stage discussions and alignment between sponsors, investors, and advisors prior to the preparation of definitive legal documentation (e.g. LPA, PPM, subscription agreement).\n\nUsers can:\n- Use the drafting language as a starting point for negotiation\n- Adapt modular sections based on the regulatory regime (RAIF, SIF, unregulated)\n- Remove internal guidance before external circulation\n- Use the document as a bridge between commercial discussions and formal documentation\n\nThe template is not legally binding and does not constitute legal advice; users must obtain independent advice before use.","status":"active","license":{"name":"Free to use","usage_note":"License: Free to use (CC0-1.0). Use, adapt, and share this content freely — no permission or credit needed. Details: https://creativecommons.org/publicdomain/zero/1.0/","spdx_id":"CC0-1.0","url":"https://creativecommons.org/publicdomain/zero/1.0/"},"url":"https://open.gamstandards.com/collections/term-sheet","templates":[],"schemas":[],"references":[],"faqs":[{"question":"How does it relate to the LPA and PPM?","answer":"It precedes them — acting as a summary that informs drafting of definitive fund documentation."},{"question":"Is this term sheet legally binding?","answer":"No. It is a non-binding summary of indicative terms used to frame discussions before final documentation."},{"question":"Does this template constitute legal advice?","answer":"No. It is an informational resource. Independent legal advice must be obtained before use."},{"question":"Can it be used for non-Luxembourg funds?","answer":"It can serve as a reference, but it is designed for Luxembourg legal and regulatory frameworks."},{"question":"Which fund structures does it cover?","answer":"Primarily Luxembourg SCSp structures, including RAIFs, SIFs and sub-threshold/unregulated funds."},{"question":"Who should use this template?","answer":"Lawyers, fund managers, investors, and service providers involved in alternative fund structuring."},{"question":"Can the drafting language be used directly?","answer":"Yes, in many cases, but it remains subject to negotiation and should always be reviewed by legal counsel."},{"question":"Are guidance notes included for external use?","answer":"No. All practitioner notes, guidance columns, and footnotes should be removed before circulation."},{"question":"Is it suitable for investor marketing?","answer":"Only after refinement and removal of internal notes; it must comply with applicable marketing regulations."},{"question":"Does the template reflect current Luxembourg practice?","answer":"It reflects market practice at the time of publication but may not capture all regulatory developments."}],"terms":[{"term":"AIFM","definition":"Alternative Investment Fund Manager authorised or registered under Luxembourg law."},{"term":"AIFM Law","definition":"Luxembourg law of 12 July 2013 governing AIFMs."},{"term":"AIFMD","definition":"EU Directive governing alternative investment fund managers."},{"term":"Carried Interest","definition":"Share of profits allocated to the GP after return of capital and preferred return."},{"term":"Commitment","definition":"Maximum capital an investor agrees to contribute to the fund."},{"term":"Compartment","definition":"Segregated sub-fund within an umbrella structure."},{"term":"CSSF","definition":"Luxembourg financial regulator (Commission de Surveillance du Secteur Financier)."},{"term":"Depositary","definition":"Institution responsible for safekeeping assets and oversight functions."},{"term":"Drawn Commitment","definition":"Capital actually called from investors."},{"term":"General Partner (GP)","definition":"Entity responsible for management and control of the fund."},{"term":"Initial Closing","definition":"First admission of investors into the fund."},{"term":"Investment Period","definition":"Period during which new investments can be made."},{"term":"LPA","definition":"Limited Partnership Agreement governing the fund."},{"term":"Limited Partner (LP)","definition":"Investor in the fund with limited liability."},{"term":"NAV","definition":"Net asset value of the fund (assets minus liabilities)."},{"term":"PPM","definition":"Private Placement Memorandum providing investor disclosures."},{"term":"Preferred Return","definition":"Minimum return paid to investors before carry is allocated."},{"term":"RAIF","definition":"Reserved Alternative Investment Fund under the RAIF Law."},{"term":"SCSp","definition":"Special limited partnership used for Luxembourg alternative funds."},{"term":"SIF","definition":"Specialised Investment Fund regulated under Luxembourg law."},{"term":"Waterfall","definition":"Distribution mechanism allocating returns between LPs and GP."},{"term":"Target Size","definition":"The intended fundraising amount for the Fund and its first Compartment. [20260210 D...& Goldbach | Word]"},{"term":"Fund","definition":"The investment vehicle described in the term sheet, structured as a Luxembourg investment company (SICAV‑SIF or similar) and managed by the General Partner"}],"_ai_hints":{"suggested_workflow":"(1) Use the glossary terms to interpret domain-specific terminology."}}