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.
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.
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.
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.
Germany's fair market value threshold: what growing fund managers must prepare for now
A pending German law will switch the AIFM threshold calculation from acquisition cost to fair market value. Funds with appreciated portfolios could suddenly need full authorisation.
Building a compliance program for your first fund: what the SEC actually expects
The SEC examines newly formed fund advisers with increased frequency. Here is how to build a compliance program that holds up under scrutiny.
EuVECA registration in Austria: a faster route to pan-European VC fundraising
Austrian VC managers can register under the EuVECA framework for simplified cross-border marketing across the EU. The 2018 amendments made it more practical. Here is how it works and where it falls short.
Setting up a fund in France: AMF registration, fund structures, and what the SLP changes
France offers emerging managers a streamlined path through sub-threshold registration and professional fund vehicles like the FPCI and SLP. Here is how the system works and where it gets complicated.
Fund manager registration in Poland: the ASI structure and what the KNF process looks like
Poland's ASI vehicle and simplified ZASI registration give emerging managers a fast, low-cost path to launching a fund. Here is how the system works and what to watch out for.
ERISA plan assets: when accepting pension money changes everything about your fund
Taking capital from US pension plans and IRAs can trigger ERISA's fiduciary rules across your entire fund. Here is how the 25% test works, what the VCOC exception requires, and how to structure around the exposure.