Hi there, I've asked a variant of this question before. The answers were helpful but I probably didn't ask the question I wanted to. I'm back to try again. Basically, I'm in the process of launching a hedge fund structured as a CPO. I'm pretty risk tolerant with my own risk capital, so I'd want to use a pretty high level of leverage... but this can introduce some significant volatility. For the fund, I'm thinking I want to set it up for a lower level of leverage instead of forcing the higher leverage on all investors. I've always heard that it's possible for sophisticated investors to "lever up" an investment into a hedge fund if they're risk seeking, instead of the hedge fund forcing it on all investors. Well, how does that actually work? I know with a CTA I could use notional funding. I can't, with a CPO. What's the alternative? Am I (as an investor into the fund) supposed to use some sort of debt-financing? Who'd provide that financing?