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.
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.
Form PF after the 2024 overhaul: what private fund advisers actually need to file
The SEC rewrote Form PF in 2024 and extended the compliance deadline to October 2026. Here is who has to file, what changed, and how to avoid the enforcement actions that hit seven advisers last year.
CIMA registration and ongoing compliance: what Cayman fund managers actually deal with
Registering a Cayman fund with CIMA is fast. Staying compliant year after year is the part that catches managers off guard. Here is the full picture.
NISM certification for AIF managers: what changed in June 2025 and what you need to do
SEBI now requires at least one member of your investment team to hold NISM Series-XIX-C or XIX-D certification. If you are launching an AIF, this is not optional.
ADGM Category 3C licensing: the fund manager licence and the sub-threshold shortcut
ADGM's Category 3C licence is the gateway for fund managers in Abu Dhabi. A proposed sub-threshold framework could cut capital requirements and approval times in half for emerging managers.
AIFMD II in Austria: what the loan origination rules and liquidity tools mean for your fund
Austria's AIFMD II implementation lands in April 2026 with new concentration limits, leverage caps for loan-originating funds, and mandatory liquidity management tools for all open-ended AIFs. Here is what emerging managers need to know.
AIFMD licensing vs. registration in Austria: which path fits your fund
Austria's AIFMG gives emerging managers a choice between full licensing and simplified registration. The thresholds, obligations, and costs are different enough that the decision shapes your entire fund launch.
Sub-threshold AIFM registration in Germany: what emerging managers actually need to know
Germany lets fund managers operate under a light-touch registration if they stay below the AUM thresholds. Here is how it works, what it costs, and where it breaks down.