Sep. 22, 2016
Sep. 22, 2016
AIMA Survey Identifies Key Ways That Managers Align With Investors, Including Alternative Fee Structures, Skin in the Game and Customized Investment Solutions
The Alternative Investment Management Association (AIMA) recently released a paper reviewing the nature of relationships between hedge fund managers and their investors. AIMA’s report explores a number of methods that managers are using to strengthen their relationships with investors, including by employing alternative fee structures, investing significant capital in their funds and offering customized investment solutions. This article examines these and other key takeaways from the report. For additional insight from AIMA, see “Basel III Raises Prime Brokerage Costs for Hedge Fund Managers” (Feb. 18, 2016); “Structures and Characteristics of Activist Alternative Investment Funds” (Mar. 12, 2015); and “Key Drivers of the Bifurcation of the Hedge Fund Industry Between Larger and Smaller Managers” (May 24, 2012).
Read full article …SEC Settlements Highlight Need for Managers to Verify Performance Claims of Others Prior to Use
Seward & Kissel Private Funds Forum Explores How Managers Can Mitigate Improper Dissemination of Sensitive Information (Part One of Two)
In the current heightened regulatory environment, the SEC has focused on safeguards that managers employ to prevent the dissemination of sensitive information and to ensure it is not used for improper trading. This was among the critical issues addressed by one of the panels at the second annual Private Funds Forum produced by Seward & Kissel and Bloomberg BNA, held on September 15, 2016. Moderated by Seward & Kissel partner Patricia Poglinco, the panel included Rita Glavin and Joseph Morrissey, partners at Seward & Kissel; Laura Roche, chief operating officer and chief financial officer at Roystone Capital Management; and Scott Sherman, general counsel at Tiger Management. This article, the first in a two-part series, reviews the panel’s discussion about risks associated with the inflow and outflow of material nonpublic information, as well as steps that fund managers can take to prevent its improper use. The second article will discuss the types of conflicts of interest targeted by the SEC, the current progress of the SEC’s whistleblower program and the difficulty of prosecuting insider trading. For coverage of the 2015 Seward & Kissel Private Funds Forum, see “Trends in Hedge Fund Seeding Arrangements and Fee Structures” (Jul. 23, 2015); and “Key Trends in Fund Structures” (Jul. 30, 2015). For additional commentary from Glavin, see “FCPA Compliance Strategies for Hedge Fund and Private Equity Fund Managers” (Jun. 13, 2014). For more from Sherman, see “RCA Asset Manager Panel Offers Insights on Hedge Fund Due Diligence” (Apr. 2, 2015).
Read full article …What U.S. and Other Non-Swiss Portfolio Managers Need to Know About Managing Assets of Swiss Occupational Benefit Plans
Hedge Funds As Shadow Banks: Tax Considerations for Hedge Funds Pursuing Direct Lending Strategies (Part One of Three)
Steps Hedge Fund Managers Can Take in Light of NY Attorney General’s View That Certain Non-Compete Clauses Are Unconscionable
Peter Naismith Joins Schulte Roth & Zabel’s Investment Management Practice
Winston & Strawn Adds Finance Partner in New York
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