Insights for emerging fund managers
Practical guides and analysis on fund structuring, regulatory frameworks, and operational best practices.
The fund administrator problem: why only 20% of managers would recommend theirs
An EY survey found that only one in five asset managers would recommend their fund administrator. Here is what goes wrong, what the red flags look like, and how to avoid the same mistakes.
Employee investment vehicles in ADGM: how to structure co-investment without triggering fund regulation
ADGM is proposing to exempt properly structured employee investment vehicles from fund licensing and minimum subscription rules. The details matter — one ineligible participant can blow up the entire structure.
Austrian tax treatment of PE funds and carried interest: what GPs need to know
Austria taxes carried interest at 27.5% as capital income — if you structure it correctly. Get the carry vehicle wrong and you are looking at progressive rates up to 55%. Here is how the rules work.
Luxembourg's new carried interest regime: attracting investment talent
Luxembourg adopted a modernised carried interest tax framework in January 2026. For emerging managers building teams in the Grand Duchy, the numbers finally make sense.
Fund administration and operational setup in Singapore: a practical guide for emerging managers
Setting up fund operations in Singapore involves more moving parts than most first-time managers expect. Here is what you need, what it costs, and the sequence that works.
AML, beneficial ownership, and ongoing compliance for Cayman fund managers
Cayman fund regulation goes well beyond the initial CIMA registration. AML procedures, beneficial ownership transparency, FATCA/CRS, and economic substance all require ongoing attention.
AIFMD II loan origination rules in Germany: what fund managers need to know
Germany's implementation of AIFMD II opens real loan origination opportunities for alternative funds — but with strict compliance requirements, even for sub-threshold managers.
SEBI's pro-rata rights circular: what the December 2024 fairness framework means for your fund
SEBI now requires all AIF investors to receive fair, pro-rata treatment on undrawn commitments. This changes how you draft your PPM, manage capital calls, and handle side letters.
Delaware tax treatment for foreign LPs: what fund managers need to get right
Foreign investors in US venture funds face a multi-part tax regime. Getting the withholding and structuring wrong costs your LPs real money.
ADGM's 2025 reform proposals: what Sub-Threshold and Institutional Fund Manager mean for your first fund
The FSRA proposed two new fund manager categories in late 2025: Sub-Threshold for managers under $200M, and Institutional for those targeting $5M+ tickets. Here is what changes and why it matters.
Austrian depositary bank requirements: what fund managers need in place from day one
Austrian law mandates a depositary for licensed AIFMs, and even registered managers face pressure to appoint one. Here is how the depositary requirement works, what it costs, and how to structure it.
AIFMD II liquidity management tools: the April 2026 implementation
Luxembourg's AIFMD II transposition is live. If you run an open-ended alternative fund, you now need at least two liquidity management tools in your fund documents — and closed-end managers should pay attention too.
Regulatory developments in Singapore fund management: what changed in 2024-2025 and what is coming
MAS has been busy. From the RFMC phase-out to new VCC governance expectations and tighter AML rules, here is what Singapore fund managers need to act on now.
