Definition of Blind Pool

Applying "Blind Pool" to Securities Exams:

Investors may organize a DPP or a limited partnership to acquire assets that have not yet been identified. The type of assets will be identified at the time or formation. A blind pool may be organized to purchase such things as oil and gas wells. Often times in addition the type of asset to be acquired financial performance criteria will be established for the assets to be acquired. Only assets that meet all the established criteria may be purchased by the blind pool.