Riveles Law Group has extensive experience counseling managers in all aspects of fund formation, structuring, and the ongoing compliance requirements of both the United States and offshore jurisdictions. Our attorneys are dedicated to helping clients successfully launch their money management businesses and navigate the rapidly changing regulatory landscape. RLG represents a broad spectrum of funds with assets between $1m and $300m, employing strategies that include long/short equity, futures/forex, global macro, complex option spreads, long term value investing, quantitative/statistical arbitrage, volatility arbitrage, fund of funds, tax liens, hybrid hedge/private equity, credit, factoring/cash advance payments, volatility arbitrage, structured notes, and multi-strategy/series LLC.
In order to avoid the costs of launching a full-fledged fund, managers seeking to build marketable track records using their own capital often choose the incubator hedge fund model. RW frequently counsels emerging managers employing a variety of investment strategies. We help managers form incubator funds in a cost-effective manner, structured so as to facilitate the transition to a full-fledged fund.
- Managers seeking to attract taxable US investors with a traditional domestic fund structure.
- Managers seeking to attract offshore and/or US tax-exempt investors through establishing US and offshore structures, including “master” and “mini-master” feeder structures, in offshore domiciles such as the British Virgin Islands, Cayman Islands, and Bermuda.
- Managers establishing funds in jurisdictions where investment adviser registration is required or an exemption to investment adviser registration must be obtained.
- Managers establishing funds with over $150 million in regulatory assets under management required to register as investment advisers with the Securities and Exchange Commission.
- Established managers seeking to add fund structures in order to, for example, accommodate offshore and tax-exempt US investors or new investors under side letter agreements, or establish relationships with third party marketers, solicitors and finders that comply with securities laws.
The services we provide to hedge fund managers include:
- Advising on fund structure, including compensation and liquidity provisions, valuation procedures, subscription requirements, etc.
- Preparing private placement memoranda, limited partnership agreements, subscription documents, and management company operating agreements for domestic and offshore entities.
- Collaborating with fund managers to formulate investment goals and strategy descriptions.
- Assisting fund managers with SEC and State investment adviser registration and managers of futures and forex funds with CFTC registration.
- Preparing SEC Form D and state “blue sky” filings.
- Advising on state and federal laws affecting hedge funds.
- Advising on new rules regarding the general solicitation of hedge funds under Rule 506(c) of Regulation D and the accredited investor verification requirements related thereto.
- Advising on UBTI, UBT, franchise tax, and related tax matters relevant to private funds.
- Facilitating the establishment of relationships with hedge fund administrators, accountants, brokers, and other service providers.
- On-going advising and compliance services.
For specific information about your jurisdiction’s regulatory requirements, the fund formation process, and any other questions you may have, contact Riveles Law Group. We are happy to provide a free consultation and explain our flat fee transparent pricing and personalized approach to starting your own hedge fund.