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Semi-liquid alternatives

Private-market products with scheduled liquidity windows rather than daily exchange trading.

Why it matters

The phrase can sound more liquid than the documents actually allow.

What this means on AltHarbor

Use Learn to separate asset exposure from the wrapper terms that control access, fees, tax, and exits.

Product-page application

Use this when reviewing wrapper type, liquidity schedule, tax form as mechanic fields. Product surfaces apply the same vocabulary to real fund facts.

Source checklist
  • Confirm the legal wrapper before reading the asset class.
  • Find the stated liquidity window and any discretion language.
  • Check whether tax form and subscription process match the client account.
Tooltip / inline use

Confirm the legal wrapper before reading the asset class.

Apply this concept

Definition to source check to advisor language and learning path.

Advisor outputExplain the wrapper before the return

Use when a client needs a concise explanation of what the wrapper controls before performance is discussed.

Client-safe summaryLearning pathMarket foundations

Explain what semi-liquid alternatives are and where they fit.

Intro / 38 min

Reference graph packet

One concept entry now routes to the full Learn system.

3Modules
0Tools
0Wrappers
0Examples
1Outputs
Advisor outputExplain the wrapper before the return

Use when a client needs a concise explanation of what the wrapper controls before performance is discussed.

Client-safe summaryModuleFund Structures: How Semi-Liquid Alternative Funds Are Built

The legal wrapper determines liquidity rights, tax treatment, oversight, and investor protections before a manager ever picks an asset.

StructuresModuleLiquidity and Redemptions: What Semi-Liquid Actually Means

How repurchase programs, tender offers, caps, gates, queues, and redemption waves shape the real exit experience.

LiquidityConceptInterval fund

A closed-end fund that must offer periodic repurchases under Rule 23c-3.

Shared module: StructuresConceptNon-traded BDC

A business development company that is registered but not exchange listed.

Shared module: Structures

Related modules

StructuresFund Structures: How Semi-Liquid Alternative Funds Are BuiltLiquidityLiquidity and Redemptions: What Semi-Liquid Actually MeansRiskRisks: What Can Go Wrong in Semi-Liquid Alternative Funds

Related tools

No active tool yet. Keep this term in the reference desk until a lab owns it.

Related wrappers

This term applies across wrappers or does not belong to a single wrapper row.

Advisor outputs

Leave with language and diligence prompts.

Client-safe summaryExplain the wrapper before the return

This structure gives scheduled access to private-market exposure, but liquidity windows, fees, tax reporting, and source documents control the client experience.

Client meeting
Client-safe summary

Semi-liquid alternatives describes the legal and operational wrapper, not just the assets inside the fund.

What to check

Confirm liquidity rights, tax form, access channel, fee layers, source documents, and whether the board or manager can change the program.

Advisor phrasing

Start with the wrapper because it controls how the client enters, exits, receives tax reporting, and experiences costs.

Concept graph

Neighboring terms to inspect next.

WrapperInterval fundShared module: Structures / Shared module: LiquidityWrapperNon-traded BDCShared module: Structures / Shared module: LiquidityWrapperNon-traded REITShared module: Structures / Shared module: LiquidityWrapperTender offer fundShared module: Structures / Shared module: LiquidityLiquidityGateShared module: Liquidity / Shared module: RiskLiquidityProrationShared module: Liquidity / Shared module: Risk