When a manager launches a new hedge fund and seeks to attract investor capital, certain mistakes are all too common with respect to selecting a domicile, registering, drafting fund documents, structuring the hedge fund for tax purposes, delegating key responsibilities among key personnel and seeking outside assistance and counsel to assist with multifarious legal and regulatory compliance matters. These mistakes can be fatal to a fledgling hedge fund – but they are avoidable. A keen awareness of how to identify and overcome the challenges that confront early stage and emerging fund managers is essential. All these points were discussed in a panel, “Starting Your Hedge Fund: Tips for Doing It Right,” organized by the Manhattan Alternative Investment Network. The speakers on the panel were Robert Akeson, managing director at Riverside Management Group; Robert Ansell, director of business development at Opus Fund Services; James Catalano, partner at Citrin Cooperman; Bruce Frumerman, president and CEO of Frumerman & Nemeth; Christopher Mendez, senior counsel at Crowell & Moring; Jack Seibald, co-head of prime brokerage at Marex; and Edward Tedeschi, president and COO of PB Investment Partners. This article summarizes key takeaways from the discussion. See “Establishing a Hedge Fund Manager in Seventeen Steps” (Aug. 27, 2015).