Special Situations (2028)
Complex, dislocated, and event-driven investments. Two Special Situations sub-funds address structural complexity, capital-stack breakage, and non-standard transaction structures.
Sub-funds within this strategy family
| Fund Name | Fund Size | Vintage |
|---|---|---|
| MajorWave Special Situations I Fund | $1,257,049,888 | 2028 |
| MajorWave Special Situations II Fund | $1,257,049,888 | 2028 |
Each sub-fund is a stand-alone Delaware limited partnership with its own general partner. Full economic terms are disclosed in each fund's Private Placement Memorandum, Limited Partnership Agreement, and Subscription Agreement. Contact Investor Relations for the current data-room.
Investment focus
- Event-driven acquisitions tied to sponsor stress
- Capital-stack repairs, DIP financing, and rescue equity
- Structured secondaries and complex GP-led transactions
- Regulatory- and litigation-driven storage dispositions
- Institutional counterparty for time-sensitive processes
Standard terms across the family
| Sector Focus | Self-Storage Real Estate — Acquisition, Development & Aggregation |
|---|---|
| Net IRR Target | 14–18% net IRR |
| Vehicle Structure | Delaware Limited Partnership |
| Domicile | Wilmington, Delaware |
| Investment Manager | MajorWave Capital Management, LLC |
| Fund Term | 12–15 years (two 1-year extensions at GP discretion) |
| Investment Period | 5–6 years |
| Carried Interest | 20% above 8% preferred return (with 100% GP catch-up) |
| Preferred Return | 8% compounded annually |
| GP Commitment | 2% of total fund commitments |
| Minimum LP Commitment | $2,000,000 |
| Distribution Waterfall | European (whole-fund) waterfall |
| Key Person | Alexandra Pohl, Founder & CEO |
| LP Advisory Committee | Yes — established at first close |
| Reporting | Quarterly financial statements; annual audited financials; annual meeting |
| Auditor | PricewaterhouseCoopers LLP |
| Legal Counsel | LePore Law Group |
| Fund Administrator | Independent Third-Party Administrator (to be appointed) |
Institutional standards apply
Every sub-fund in this family is a Delaware limited partnership with its own fund-specific general partner entity. Every capital commitment requires unanimous Investment Committee approval. Deployment is monitored against each sub-fund's underwriting model on a monthly cadence. PricewaterhouseCoopers LLP audits sub-fund financial statements annually. The LP Advisory Committee is established at first close and reviews conflicts, valuation methodology, and material policy questions on an ongoing basis. The Chief Risk Officer holds veto rights on any commitment that would breach the sub-fund's concentration, counterparty, leverage, or liquidity thresholds.