These investments pool the resources of several investors together, usually through a limited partnership structure, with the Commodity Pool Operator (CPO) acting as general partner or managing member, and the investors acting as the limited partners or members. Through such a structure, investors may be able to generate enough capital to access CTAs that they otherwise would not have been able to afford individually.

Many individual CTA programs require high minimum investments, usually from US$25,000 to several million, which means that they are primarily open to high net worth individuals and institutions. Therefore, some investors place their money with CPOs, who form financial partnerships which, in many cases, allow them to participate in the same CTA programs with lower minimum investment requirements. Risk in fund investments are generally limited to the amount of the investment rather than the unlimited risk associated with individually managed accounts.

Private funds (or private placements) are generally open to investment by high net worth and accredited investors. The minimum investments typically range from $25,000 to $500,000.

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