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Fund Structure

We have chosen to implement a streamlined structure in order to effectively manage expenses and expedite the initiation of operations. Furthermore, the utilization of a more conventional Real Estate Investment Trust (REIT) approach, whether in Indonesia or Singapore, does not permit the acquisition of undeveloped land or properties construction.
To accommodate new investors, the fund will periodically issue additional shares. The legal process of equity ownership can also be completed remotely for added convenience.

TKF Fund Structure

Fund Structure

We have chosen to implement a streamlined structure in order to effectively manage expenses and expedite the initiation of operations. Furthermore, the utilization of a more conventional Real Estate Investment Trust (REIT) approach, whether in Indonesia or Singapore, does not permit the acquisition of undeveloped land or properties construction.
To accommodate new investors, the fund will periodically issue additional shares. The legal process of equity ownership can also be completed remotely for added convenience.

Fund Structure april2023

Fund Fees & Carried Interests Structure

TKF Fund and Performance Fee

Carried Interests Example

Carried Interest

Fund launch date:
March 1st, 2023

Fund end date:
March 1st, 2028

Minimum Investment:
USD 40,000

Fund type:
Open-Ended Fund

Distribution of Profit:

From 0% to 8%: LP: 100% / GP: 0%
From 8% to 14%: GP: 100%
From 14% to 24%: LP: 80% / GP: 20%
From 24% to ∞: LP: 65% / GP: 35%

The calculation of performance fees will be done on a pro-rata basis according to the duration of investment in the fund.

Asset Lock up Period:
Total liquidation of assets by March 1st, 2028

Properties will commence being sold during the last six months of the fund's duration, with potential extension periods if required to complete the liquidation of assets.

Fund Management Fees:
Operating Fee: - GP charges an annual 2% operating fee to cover operating expenses of the fund activities.
Acquisition Fee - 3% of the acquisition value of the asset acquired.
Asset Management Fee - 3% of the revenue from asset management activities.
Capex Management Fee - 3% from the construction value of real estate projects.
Loan Arrangement Fee - 1% of the loan volume originated. Asset Disposal Fee - 3% from asset sales proceeds value before tax.

Share Transfers:
Any proposed transfer or sale of shares prior to maturity requires ManCo prior approval, and attracts fees payable by the seller.

Carried Interests Example

imgLate
kscap assets 11

Assets & Returns Example (LP+GP)

Assumption:
USD 100.000 AUM - USD 2000 (Management fee)
= USD 98.000

Estimated IRR: 27%
LP returns: 20,55%
Zero premature withdrawal scenario

imgGrafic
imgTable

Limited Partners Protection

High-Water Mark

What is a High-Water Mark?
High-water mark is the highest level of value reached by an investment account or portfolio. It is often used as a threshold to determine whether a fund manager can gain a performance fee.

Why does it matter to you?
Investors benefit from a high-water mark by avoiding paying performance-based bonuses for poor performance or for the same performance twice.

imgHigh Watermark

Example
Assets = 100k$
Y1 NAV goes up to 150k$
Y2 NAV goes down to 80k$
Y3 NAV goes back up to 170k$

At the end of Y1, High Water Mark is 150k$
Y2 => no carried interests above the HWM so no performance fees..
Y3 => 170k$-150k$=20k$ carried interests
New HWM is now 170k$

Clawback Provision​: 8%

What is a Clawback Provision?
The clawback provision enables limited partners to receive a refund of any incentive fees taken by the general partner during the life of the investment if the preferred return (8%) is not achieved. This is in place to protect investors in the event of a potential underperformance of the Fund in the later stages of its life cycle.

Why does it matter to you?
The clawback provision is important to investors because it ensures that investors can receive their preferred return (8%), and that any profits above that return are split as per the agreement. The clawback provision also helps to increase investor confidence in a firm's financial statements.

Clawback Provision

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