Open ended and evergreen PE structures vs closed ended PE structures

Hi! Does anyone in the community have thoughts and/or experience setting up an open ended PE investment company or an evergreen PE investment company that buys and builds many companies? I am especially interested in:

1. Why you chose this format instead of the traditional close-ended structure (and the general pros and cons of either structure)

2. How you navigated the challenges of managing the buy-ins and outs of investors

3. How distributions to investors differ to those in the traditional close-ended model

Thank you!