A post-closing activity (PCA) is any event that requires active administration of the SPV by the investment portfolio, the Organizer, or the investors in the fund. There are two categories of SPVs PCA, administration of the SPV and the SPV acting in its role as an investor in an asset. Types of administration of the SPV PCAs include membership transfers and sales, carry assignments, manager resignations, and SPV dissolution and shutdown. Types of the SPV acting in its role as an investor in an asset PCAs include investment updates, financing review and round consents, general corporate actions, mergers and acquisitions, stock splits, IPO – initial public offering, and non exit distributions.