The first investment vehicle raised by a fund manager, typically by a firm or fund management team that has not previously raised any prior fund.

A cost or expense that does not fluctuate in proportion to the level of sales or production.

All income except (i) gains derived from the sale of real or personal property (including market discount and option premiums, but not including original issue discount) and (ii) i ...

Personal property which is permanently affixed or attached to real property such that it is considered to be an integral part of the real property.

A fee paid to an adviser or manager for managing a portfolio of real estate assets, typically stated as a flat percentage of gross asset value, net asset value or invested capital. ...

The ratio of the gross square footage of a building to the square footage of the land on which it is situated.

Investment in an existing portfolio company of a fund that is made to protect or enhance the value of the fund’s investment; often permitted to be made throughout the life of ...

A force that cannot be controlled by the parties to a contract and prevents them from complying with the provisions of the contract, includes acts of God such as a flood or a hurri ...

A US federal law passed in 1977 that prohibits US firms and individuals from paying bribes to foreign officials in furtherance of a business deal; also outlines required accounting ...

A US tax law enacted as Subtitle C of Title XI (the Revenue Adjustments Act of 1980) of the Omnibus Reconciliation Act of 1980, that imposes income tax on ...