Vehicles
One manager. One vehicle. One purpose.
A Magellan vehicle is a purpose built entity that holds a single commitment to a single fund. It exists so that a curated group of investors can participate in an allocation none of them would access alone, with the economics of the underlying manager reaching them as directly as possible.
How it works
From allocation to reporting.
01
Allocation
We earn a place in a fund from a manager who meets our standard. These funds are closed to new investors, and what is available is allocated by relationship, at institutional scale.
02
Entity
We form a single purpose limited liability company whose only asset is that one fund commitment. It does nothing else, now or later, and winds down when the fund does.
03
Partners
A small group of qualified investors who have established a relationship with us subscribe on identical terms. We invest our own capital in the same class.
04
Capital
Capital calls and distributions pass straight through. The vehicle calls when the fund calls and distributes when the fund distributes.
05
Reporting
Quarterly capital account statements, call and distribution notices, annual tax reporting, and the manager’s own reports passed through, all delivered through a dedicated investor portal.
Terms designed for alignment
We earn only when the structure adds value.
The specific terms of any vehicle are set out in its offering documents. The principles behind them do not change.
01
Minimal fees
Our vehicles have historically carried little to no management fee on committed capital. The data, the analytics, the interviews, and the vetting are done once and shared among the partners in each vehicle for a small fee. Formation and administration costs are kept modest and disclosed in advance.
02
We win only when you win
Our partners receive a preferred return on their capital first. We earn carried interest only on top of that, and take nothing if a commitment does not clear it.
03
Aligned over the life of the vehicle
Carry is structured across the full life of each vehicle rather than one good deal exit, so our incentives track the investment’s actual outcome.
04
We invest alongside you
We commit our own capital in the same class as our partners, on the same terms, in every vehicle we form.
Our most recent close
Closed in 2026.
Our most recent vehicle closed in 2026 with a commitment to the latest fund of a top decile European enterprise software buyout manager, alongside that manager’s institutional investor base. The manager’s prior funds were fully subscribed by existing investors; a small allocation was reserved for a select group of entrepreneurs and investors with whom the firm had established relationships, and Magellan was among them.
Who participates
- Family offices and ultra high net worth individuals who meet the accredited investor and qualified purchaser standards and want disciplined access to specific managers.
- Foundations and nonprofits seeking long term private markets exposure without building the manager relationships and diligence function a direct commitment requires.
- Entrepreneurs and operators whose experience adds strategic value to the managers we back.
- Participation is offered only to qualified investors who have established a relationship with us, and only through a vehicle’s definitive offering documents.
For fund managers
One investor on the register, many behind it.
To a general partner, a Magellan vehicle is a single limited partner: one subscription, one set of onboarding documents, one point of contact, one wire. Behind it sits a curated group of long term investors, many of them entrepreneurs and operators, with a bias toward the next fund rather than the last one.
Single LP
One line on your register
Long term
Built to commit to follow on funds
Operators
Partners who have built companies
US presence
A bridge into the American market