The Sponsor member category (“Sponsor Member(s)”) is composed of Sponsors who are engaged in the sale or management of direct investment programs.
By way of clarification, the sponsor membership will represent all open and closed, non-liquated private and public, non-listed programs that are currently under management with the ultimate parent advisor as well as any co-sponsored products. For the purpose of membership in the organization and payment of membership dues, a Sponsor shall not include any of the following affiliated entities of such Person: (i) law firms, accounting firms, due diligence firms, analysts, transfer agencies and other service firms (each of which are required to obtain separate associate memberships in the organization and pay appropriate membership dues), and (ii) retail broker-dealers or registered investment advisors (each of which are required to obtain separate broker-dealer or RIA memberships, as applicable).
“Advisor” means the Person primarily responsible for directing, managing or performing day-to-day business affairs of a Direct Investment Program.
“Affiliate” means any Person directly or indirectly controlling, controlled by, or under common control with such other Person.
“Direct Investment Program” means any real estate program, oil and natural gas program, equipment leasing program, managed futures fund, BDC or other program within the scope of the organization’s industry focus.
“Person” means any natural person, partnership, corporation, association, trust, limited liability company or other legal entity.
Sponsor Dues Schedule – Based on Cumulative Equity Raised – Cumulative Equity Raised = Equity raised on all open and closed, non-liquidated private and public, non-listed programs since effective date that are currently under management inclusive of all alternative investment products covered by the IPA’s scope of membership. Do not include debt in this figure