How did LTCM secure long-term funding?

What will be an ideal response?

LTCM developed extensive financial backing from banks and other financial institutions.
It arranged large credit lines ($900 million), a three-year, unsecured loan ($230 million), and financed most of its security purchases in the six-month to one-year (reverse) repo market. LTCM also wrote a covenant into its investment contract that limited investors' ability to withdraw capital from the fund. At first, this covenant stipulated that equity remain invested for at least three years, but in 1996 the restriction was eased, allowing investors to cash out one third of their capital at the end of each year after the first one.