Inspect This Model
Use the scenario to isolate the mechanic. Use MODEL-CREDIT-LIQUIDITY to move from Repurchase program, to controlled lab, to document-route check, to advisor language. Mechanic in focus Repurchase program Use a hypothetical liquidity window to show what happens when requests exceed stated capacity.
Controlled educational example. Not based on any specific fund.
What to check Hypothetical repurchase cap and cadence. Accepted versus requested amounts in the model window. Board discretion or suspension language. Inspection workflow Concept to lab to document route to advisor language.
01 Concept
Define the mechanic Start with the canonical Repurchase program entry so the model scenario is read through the right mechanic.
Repurchase program 02 Tool
Run the controlled lab Show proration, deferred demand, and why a stated cap is not the same as a guaranteed exit.
Liquidity Simulator 03 Document route
Find the document family Repurchase policy, prospectus liquidity section, tender documents, and accepted-versus-requested results.
Repurchase program model scenario 04 Controlled example
Inspect the model scenario Hypothetical repurchase cap and cadence. Accepted versus requested amounts in the model window. Board discretion or suspension language.
MODEL-CREDIT-LIQUIDITY scenario 05 Advisor output
Leave with usable language Use when a fund has repurchase pressure, a partial fill, or a client asks what happens when requests exceed capacity.
Manager questions Concept Graph
The canonical terms this example teaches. Liquidity Repurchase program A fund policy that lets investors request redemptions on a schedule, usually subject to caps. Document proof Repurchase policy, prospectus liquidity section, tender documents, and accepted-versus-requested results.
Mechanic fields Repurchase cap Repurchase cadence Requested / accepted Liquidity history Liquidity Proration Partial fulfillment when investor requests exceed the fund's repurchase capacity. Document proof Repurchase policy, tender offer, or repurchase results showing requested amounts, accepted amounts, proration factor, or capped fill.
Mechanic fields Fill rate Proration factor Requested / accepted Unfilled demand Metric Fill rate The accepted amount divided by the amount investors requested to redeem. Document proof Tender or repurchase result data with accepted and requested amounts, shares, dollars, or reported percentage.
Mechanic fields Fill rate Accepted / requested Repurchase event Demand pressure Liquidity Gate A partial or full restriction on redemptions beyond normal stated mechanics. Document proof Prospectus gating language, board action, repurchase suspension notice, 8-K, or shareholder communication.
Mechanic fields Gate status Board discretion Suspension language Liquidity stress Related Modules
Read the background if the example exposes a gap. 01 Liquidity / Start here Liquidity and Redemptions: What Semi-Liquid Actually Means How repurchase programs, tender offers, caps, gates, queues, and redemption waves shape the real exit experience. 02 Risk / Core Risks: What Can Go Wrong in Semi-Liquid Alternative Funds The structural and manager-specific risks that matter most, from liquidity and valuation to leverage and incentives. 03 Due Diligence / Start here Due Diligence: How to Evaluate a Semi-Liquid Alternative Fund A five-layer framework for evaluating structure, manager quality, portfolio risk, operations, and disclosures. Learning Paths
Use this case inside a broader advisor workflow. Wrapper Context
Compare the structure before comparing performance. Controlled examples 2 model scenarios
Connect this example to model document checks. The scenario shows the event, math, simplified filing-style language, and advisor interpretation without using live fund rows.
Inspection workflow Start with the definition and source checklist. Model the mechanic in the related tool or simulator. Inspect the model scenario, fill math, and generic document family. Open the controlled example or advisor output when the mechanic changes the explanation. Repurchase program / 43% model fill Hypothetical liquidity window with oversubscription The model window shows how a stated repurchase program can deliver partial liquidity when requests exceed capacity.
Window close 31 Mar 2026
Fill rate 43% Accepted amount divided by requested amount
Cap applied 5% NAV
Accepted / requested $50M / $116M model Simplified tender-result language Educational example only; not copied from any filing row. Proration / Tender-offer window Model tender window with partial exit risk The model tender cycle separates a scheduled exit process from daily liquidity and shows where proration language belongs.
Offer window Quarterly model cycle
Offer cap 3% NAV
Demand pressure 2.4x
Unfilled handling Resubmit next window model Simplified tender-offer notice language Educational example only; not based on a specific sponsor document. Advisor Outputs
Leave with language, questions, and document checks. Controlled educational example. Not based on any specific fund. Product pages remain the place where AltHarbor applies these mechanics to source-backed product facts.