Launching a hedge fund is a major undertaking that requires a systematic approach and experienced partners in a variety of industries and areas of expertise. Brokerage, legal, tax and technological considerations are essential to the development of a successful fund. Creating a legal and structural framework at the outset that is in tune with the fund’s investment objectives and investor base is the foundation for a successful fund. Read our outline of legal, structural and practical considerations to be evaluated in establishing your hedge fund here.

For the founder of a new hedge fund, compliance with the new Investment Advisers Act registration regime is a critical initial step. If registration is required, investment advisory services may not be provided until SEC or state registration is obtained. Title IV of Dodd-Frank changed the regulatory landscape by basing registration not on the number of clients but on regulatory assets under management, thereby shifting regulatory authority over smaller managers to the states and regulating larger managers outright. This memorandum outlines which advisers must, may, or are prohibited from SEC registration.

Going-private transactions take a variety of forms but typically are (i) accomplished by a merger, tender offer or reverse stock split, (ii) spearheaded by the company’s senior management, and (iii) financed by third party debt and/or equity financers. The form chosen for the transaction in any particular case depends on need for outside financing, the composition of the shareholder base and the likelihood of a competing bid for the company, among other factors. Read more about going-private transaction here.