AnchorPoint Labs

AnchorPoint Labs · Tools to build private funds

Design and stress-test the structure before you build it

Structura checks a private fund structure against U.S. tax, securities and regulatory rules, proposes alternatives and shows the reasoning behind each one. Rule logic decides. AI widens the search and explains the result.

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Single fund + blocked feeder

Single fund + blocked feeder, as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveFund (LP)DE LP · 3(c)(7)Feeder Blocker(DE LP, corp.…DE LP · 3(c)(7)BLOCKERGPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERBuyout,pass-throughUBTI · ECI
  • Sensitive investor properly blocked U.S. Tax-Exempt
  • Sensitive investor properly blocked Non-U.S.
  • Blocker tax drag: 21% on blocked profits U.S. Tax-Exempt

A buyout fund holding pass-through portfolio companies, with U.S. taxable, U.S. tax-exempt and non-U.S. investors. Drawn and checked by Structura’s engine; the findings are its own.

Main + Parallel fund with blocker

Main + Parallel fund with blocker, as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveMain Fund(LP)DE LP · 3(c)(7)ParallelFund (LP)DE LP · 3(c)(7)GPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERBuyout,pass-throughUBTI · ECIBlocker CorpDE C-Corp · 3(c)(7)BLOCKER
  • Sensitive investor properly blocked U.S. Tax-Exempt
  • Sensitive investor properly blocked Non-U.S.
  • Blocker tax drag: 21% on blocked profits U.S. Tax-Exempt

The same fund and the same investors, the sensitive ones in a parallel fund over a blocker. Drawn and checked by Structura’s engine; the findings are its own.

Master-feeder

Master-feeder, as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveU.S. Feeder(LP)DE LP · 3(c)(7)Offshore Feeder(Cayman ELP,…Cayman ELP · 3(c)(7)FEEDER FUNDMaster Fund(Cayman…Cayman ELP · 3(c)(7)GPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERStocks / bondsUBTI · leveraged
  • Sensitive investor properly blocked U.S. Tax-Exempt
  • Offshore feeder blocks at 0% entity tax U.S. Tax-Exempt
  • Design alternative: Mini-master (admit the U.S. investors directly to the master) U.S. Feeder (LP)

An open-end fund trading stocks and bonds with leverage, with U.S. taxable, U.S. tax-exempt and non-U.S. investors. Drawn and checked by Structura’s engine; the findings are its own.

Structura

What Structura Does

Design

Draw a fund structure, or describe it and let Structura put it on the canvas: vehicles, investors, assets and terms.

Evaluate

See the tax and regulatory findings for each investor type and asset class, each leading with its conclusion and citing its authority.

Compare

Alternative structures side by side, ranked for complexity, cost and fit, with the returns to each investor class and the cost to form and run each vehicle.

What you can do with Structura →

Structura

See It Work

More short videos, one fund or one rule each, on the Videos page.

A venture fund in under two minutes: built from a few answers, checked, the alternatives built and ranked, and the one fact that would change the answer.

Resources

Explore the Resources

Open to everyone. None of it is legal advice.

Golden Structures

Fourteen patterns. Thousands of variations. The structures the market keeps returning to, drawn by Structura’s engine, each with what it is, who it is built for, what it solves and what it costs.

See the fourteen →
The Single Delaware LP, the reference form as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveFund (LP)DE LP · 3(c)(7)GPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERVC, C-corpstockno UBTI, no ECIThe Single Delaware LPThe Blocked Feeder, the reference form as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveFund (LP)DE LP · 3(c)(7)Feeder Blocker(DE LP, corp.…DE LP · 3(c)(7)BLOCKERGPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERBuyout,pass-throughUBTI · ECIThe Blocked FeederThe Main and Parallel with a Blocker, the reference form as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveMain Fund(LP)DE LP · 3(c)(7)ParallelFund (LP)DE LP · 3(c)(7)GPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERBuyout,pass-throughUBTI · ECIBlocker CorpDE C-Corp · 3(c)(7)BLOCKERThe Main and Parallel with a BlockerThe Master-Feeder, the reference form as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveU.S. Feeder(LP)DE LP · 3(c)(7)Offshore Feeder(Cayman ELP,…Cayman ELP · 3(c)(7)FEEDER FUNDMaster Fund(Cayman…Cayman ELP · 3(c)(7)GPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERStocks / bondsUBTI · leveragedThe Master-FeederThe UPREIT, the reference form as Structura draws itU.S. TaxableU.S. taxableU.S. Tax-ExemptUBTI-sensitiveNon-U.S.ECI-sensitiveMain Fund(LP)DE LP · 3(c)(7)ParallelFund (LP)DE LP · 3(c)(7)Parent REITDE C-Corp · 3(c)(5)…REITHolding LLCDE LLC · 3(c)(5)(C)SPVOperatingPartnershi…DE LP · 3(c)(5)(C)PreferredShareholders…REIT preferredGPDE LLC · PartnershipGPInvestmentManagerDE LLC · PartnershipMANAGERProperty LLCDE LLC · 3(c)(5)(C)SPVIncome realestateUBTI · ECI · FIRPTA…The UPREIT

Market Intelligence

Fund market data: how private funds are organized and offered, charted.

Explore →

Videos

Short demonstrations, one fund or one rule each.

Watch →

Glossary

The terms of fund formation, defined.

Browse →

State Adviser Matrix

Investment adviser registration and its exemptions, state by state.

Open →

The initiative

Fund Design From First Principles

Comparing fund structures is expensive. In conventional structuring, each alternative is worked through by hand, one structure at a time, so most funds start from a precedent. The initiative at AnchorPoint Labs is to rethink how funds are structured from first principles, with a computational method: derive the alternatives from the governing rules and the stated facts, not from what was built last time, and bring them into view early, so practitioners spend their time deciding.

The value a structure creates on its own, because it fits the investors, keeps tax leakage down and adds no more complexity than it needs, is what we call structural alpha. Much of it is decided before drafting begins, and it is rarely measured. The approach is set out in Fund Design as a Computational Problem. Structura puts the method to work, and what practitioners report back refines both the method and the tool.

Read the paper →

About

AnchorPoint Labs

AnchorPoint Labs develops tools for private fund work. They grew out of day‑to‑day fund formation practice at AnchorPoint Legal Partners. Structura, a subscription platform, is the first. The resources on this site are open to everyone.

AnchorPoint Labs LLC is an affiliate of AnchorPoint Legal Partners PLLC, a Chambers‑recognized firm focused on private funds.

The tools on this site are software products, not legal services of the law firm, and their use does not create an attorney‑client relationship. They are provided for informational and educational purposes only and are not legal or tax advice. Confirm every result with qualified counsel. If you contact the law firm, please do not send confidential information until the firm has confirmed that it can act for you.