# Multi-Feeder Fund Structure Explained Visually

> Published on ADIN (https://adin.chat/s/multi-feeder-master-fund-structure-visualization-r7kw)
> Type: Diagram
> Date: 2026-03-16
> Description: Explore the flow of investments through a multi-feeder master fund with clear, interactive diagrams for onshore and offshore LPs.

Mermaid diagram:
graph TD
  A1["US Taxable Investors"] --> F1["Onshore Feeder LP"]
  A2["Non-US / Tax-Exempt Investors"] --> F2["Offshore Feeder LP"]
  A3["Large Single Investor"] --> F3["Parallel Vehicle / SPV"]

  F1 --> M["Master Fund"]
  F2 --> M
  F3 --> M

  M --> P["Portfolio Investments"]