SEC v. Andrey C. Hicks and Locust Offshore Management, LLC Marketing, of course, is an issue close to the heart of every hedge fund manager. You spend so much time and effort making your pitchbook and other materials exactly right in terms of strategy, investment process and all the details [...]

Access to Records under the Delaware Uniform Limited Partnership Act A vast majority of hedge funds are structured as limited partnerships under the Delaware Uniform Limited Partnership Act (the DULPA).  The code is very flexible and allows the limited partnership agreement (LPA) to be drafted in a very manager-friendly manner. [...]

Guide Focuses on Hedge Fund Risk Management and Other Operational Issues Unfortunately the new world of hedge fund investing and hedge fund due diligence has become more complicated and hedge fund management companies now need to increase their focus on operational and business issues.  While many managers are happy to [...]

FAQs on Offering Documents I recently read an article by a hedge fund administration firm which discussed hedge fund offering documents and start up hedge fund expenses.  I thought this was an interesting topic and one which is popular with many of my start up clients.  Below I discuss some [...]

The following article is by Christopher Addy, President and CEO of Castle Hall Alternatives, a hedge fund due diligence firm.  We have published a number of pieces by Mr. Addy in the past (please see Hedge Fund Due Diligence Issues, Issues for Hedge Fund Administrators to Consider and ERISA vs. [...]

It is very important that hedge fund managers always provide potential investors with hedge fund offering documents which are current and up to date.* Because of certain changes to the various hedge fund laws within the past few months (and because of the increased likelihood of future rules/regulations changes) a [...]

FASB may re-evaluate FAS 157 in light of recent market events While the SEC does not directly control the manner in which hedge fund assets are valued for the purpose of striking a NAV for a fund, the SEC valuation policies are important for hedge funds in a number of [...]

How to write a hedge fund disclaimer One of the more unusual requests (in my opinion) that we receive on this site is how to write a hedge fund disclaimer.  I think that this is unusual because I would assume that most hedge fund managers would want to make sure [...]

Hedge Fund Questions For the new year we will publish a list of common questions we receive from our readers.  This question involves hedge fund valuation. Question: Can a hedge fund provide its own valuation? Answer: Generally yes, provided that the hedge fund offering documents state that the valuation of [...]

Offshore hedge funds can be structured in a number of different ways including a stand alone structure, a master-feeder structure and a side by side structure.  This article discusses the side by side hedge fund structure and also provides a side by side offshore hedge fund organizational chart.  As we [...]