There is an assumption in the market that certain product structures are more expedient to sell than others. Consider how these timelines have converged over the past several years. Changes in regulation, globalization and the simple time in market of many product structures have driven this convergence. The timeline to get a manager to capacity, not to first allocations, is typically 24-36 months at a minimum. Certain product structures do lend themselves to quicker allocations in specific channels such as a small broker-dealer or registered investment adviser who onboards a liquid mutual fund early in its lifecycle, or a family office who jumps into a private equity Fund I solution or a sub $10M limited partnership. Typically, senior level marketing professionals will not get involved with a manager until they have reached certain thresholds. For example, the coveted $100M in AUM, or completion of the challenging Fund I and II raises. At this point, part of the timeline has already been baked in. Managers should expect a three-year timeline at a minimum, regardless of product structure, if they are new to the institutional market or in the early stages of business and product development.