Certain foreign alternative asset funds are not directly accessible to Chilean institutional investors — such as AFPs and insurance companies — without the interposition of a locally regulated vehicle that satisfies the applicable investment and eligibility requirements. Cardonal Consulting advises on the design, implementation, and connection of these local feeder vehicles to the foreign funds our clients seek exposure to, ensuring the resulting structure is properly authorized under Chilean regulation while remaining operationally consistent with the terms and mechanics of the master fund abroad.

For family offices and other institutional investors, structuring needs are not limited to feeder vehicles. General Partners increasingly offer investors the opportunity to participate in bespoke structures — such as separately managed accounts, parallel funds, or co-investment platforms — where the investor may have the ability to influence both the vehicle's structure and its governing terms. In these cases, and based on our extensive access and experience with real-world legal solutions, we work alongside the investor from the earliest drafts through to execution: reviewing the proposed documentation, identifying the adjustments needed, and drafting the provisions required to ensure the final structure reflects the investor's regulatory, tax, and commercial requirements.