The summer of 2012 proved to be a challenging one for many private fund professionals involved in the preparation of the first wave of Form PF filings. In particular, Large Hedge Fund Advisers were required to make their first Form PF filing by August 29, 2012. What emerged from the frenzied summer and the post-filing chatter is a common theme that can be gleaned by the title of this article. Your assumptions will play an important role in how you complete Form PF and whether you do so effectively. There are many assumptions that can be safely made and many that conclusively cannot be made. In a guest article, Kelli Brown and Peter J. Chess provide guidance for both the experienced and inexperienced future Form PF filers. Brown is a principal and co-founder of Sol Hedge, LLC, a hedge fund consulting firm, and Chess is an associate in the Corporate and Securities practice group at Pillsbury Winthrop Shaw Pittman LLP. For more guidance on successful preparation and completion of Form PF, see “Ten Steps to a Successful Form PF
,” Hedge Fund Law Report, Vol. 5, No. 17 (Apr. 26, 2012).