Good afternoon. I am trying to pin down a definition for the term
"initial closing" or "initial closing amount" in the context of an
investment fund. The term has been explained to me as the minimum amount
of money required to be raised for the fund before any investment can
begin. However, I am unable to find a formal defintion for this.
I've consulted several financial dictionaries (Dictionary of Finance and
Investment Terms, Wall Street Words, and the New York Times Dictionary
of Money and Investing, Encylopedia of Banking and Finance), and have
looked into some treatises, but this term hasn't appeared. However, I've
come across the phrase in press releases regarding various financial
offerings, so it's in common use. I've searched for variations on the
phrase but again no results.
Any assistance or suggestions are appreciated. Thank you.
Sansanee Graves
Assistant Librarian
McKenna Long Aldridge
303 Peachtree St. NE
Atlanta, GA 30308
404-527-4059
sgraves@mckennalong.com
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