Posts tagged as:

hedge fund offering documents

Hedge Fund Records

June 30, 2009

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. To the extent that a LPA [...]

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MFA Releases Sound Practices Guide for Hedge Funds

April 1, 2009

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 attend to their trading strategies and [...]

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Thoughts on Hedge Fund Offering Documents

February 25, 2009

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 of the common questions regarding the [...]

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Hedge Fund Fees | Discussion of Future Trends

February 2, 2009

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. the Hedge Fund Industry).  The [...]

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Revising Hedge Fund Offering Documents

January 16, 2009

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 hedge fund private placement [...]

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SEC Stands Behind “Fair Value” Accounting

January 7, 2009

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 different ways.  Maybe most important is [...]

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Hedge Fund Disclaimer

January 6, 2009

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 that anything with a disclaimer has [...]

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Can a hedge fund value its own assets?

January 3, 2009

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 the hedge fund’s assets will be conducted by [...]

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Offshore Hedge Funds – Side by Side Hedge Fund Structure

December 18, 2008

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 have noted earlier in an [...]

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Hedge Fund Lock-Up Period

December 17, 2008

What is a hedge fund lock-up?
Recently there has been many discussions about hedge fund structures and terms, including the ability (or lack of ability) for investors to withdraw from hedge funds.  Generally the manager will have a number of structures in place to make sure that capital stays in the hedge fund.  These provisons include [...]

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