Families are increasingly expressing a desire to invest in private equity opportunities on an individual, deal-by-deal basis. Club deals, which are quickly becoming the preferred vehicle of investment for families, offer more flexibility than traditional blind-pool funds, which require a long-term financial commitment and limited control. Given their relative complexity and novelty, club deals require significant due diligence on the part of the investor. For that reason, we have organized fifteen Frequently Asked Questions, based on our experience analyzing hundreds of club deals.