Our Emerging Manager Minute video series examines a wide array of topics that are crucial for understanding and navigating the challenges and opportunities for Emerging Hedge Fund Managers. From regulatory changes and market trends to fundraising strategies and operational best practices, each installment delves into the key issues that impact new and growing fund managers. 

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Liquidity Management

In this installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin discuss the critical importance of aligning hedge fund liquidity terms with underlying investment strategies to protect both investors and the stability of investment management businesses. They explore liquidity management features including lockups and gates, while examining challenges posed by the inherent liquidity differences between commingled funds and separately managed accounts (SMAs).

Management Fees and Performance Allocations

In this installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin examine current trends in hedge fund management fees and performance allocations based on Akin’s Hedge Fund Database.

Structuring Hedge Fund Management Companies

In this installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin discuss the importance of thoughtfully structuring hedge fund management companies, emphasizing the need for clear documentation, governance and alignment among founding principals. They highlight key considerations for building a durable, long-term business by addressing decision-making authority, buyout provisions, restrictive covenants and planning for future equity issuances.

Fundraising Dos and Don’ts

In this installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin discuss critical fundraising legal considerations for emerging hedge fund managers, covering Reg D. private placement rules, SEC marketing regulations and international fundraising challenges.

Managing SMAs Alongside Commingled Hedge Funds

In the third installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin explore the strategic advantages and operational complexities of managing SMAs alongside commingled hedge funds, including achieving optimal scale and allocating expenses across vehicles, as well as critical regulatory considerations.

Seeding Transactions

In the second installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin discuss the key considerations for Emerging Hedge Fund Managers when entering into Seed Deals, including the structure, terms and tax implications of such transactions. They highlight trends in the marketplace and business considerations as well.

Popularity of SMAs

In this installment of the Akin Emerging Manager Minute, partners Max Karpel and Ira Kustin provide a quick overview of one of the hottest trends in the Emerging Hedge Fund Manager space—the proliferation of Separately Managed Accounts (SMAs). They discuss the growing importance and acceptance of SMAs in the context of first time hedge fund launches, exploring the legal and commercial implications of this development.