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.
UAE corporate tax and ADGM funds: how to maintain 0% through Qualifying Free Zone Person status
The UAE's 9% corporate tax does not have to apply to your ADGM fund. Qualifying Free Zone Person status preserves 0% — but the conditions are strict and the compliance is ongoing.
Carried interest in German funds: how GP compensation actually works in a GmbH & Co. KG
Germany taxes carried interest at an effective rate of about 28.5% — if you get the structure right. Most first-time managers do not. Here is what the qualified carry regime requires and where it breaks down.
German withholding tax on fund distributions: what foreign LPs need to know
If your German fund has international investors, withholding tax on distributions is not optional. The base rate is 26.375%, treaty relief can bring it down significantly, but only if you apply for it correctly and on time.
Tax election strategy: SICAR-like vs. SIF-like RAIFs and the subscription tax
Luxembourg RAIFs let you choose your tax regime at formation. Pick wrong and you either overpay or lock yourself into a structure that does not fit your strategy.
Section 13O vs 13U in Singapore: picking the right tax exemption for your fund
Both schemes exempt fund income from Singapore's 17% corporate tax. But they target different fund sizes, impose different substance requirements, and the January 2025 changes make the choice harder to get right.
Carried interest taxation under Section 1061: what fund managers need to plan for
The three-year holding period for carried interest catches many first-time managers off guard. Here is how Section 1061 works, where the structuring traps are, and what to get right before your first close.
Singapore's tax incentive framework for funds: Section 13O, 13U, 13H, and 13R explained
Singapore offers some of the most attractive fund tax incentives in Asia. The 2025 updates made them better for VC and PE managers, but the details matter.
SEIS, EIS, and VCTs: how UK tax reliefs shape venture fundraising
UK tax reliefs give your investors 30-50% income tax relief on qualifying investments. If your fund strategy aligns with them, fundraising gets materially easier.
How Cayman Islands tax neutrality actually works for fund managers
No corporate tax, no capital gains tax, no withholding tax. But tax neutrality does not mean tax-free for your investors. Here is what emerging managers need to understand.
Carried interest taxation in the UK: what changes in April 2026 and what it means for your fund
The UK is reclassifying carried interest from capital gains to trading income. If your fund documents are not set up for the new average holding period test, you will pay significantly more tax.
German partnership tax returns: the filing obligation that catches fund managers off guard
If your fund has two or more German investors, you are required to file an annual partnership tax return in Germany. Most managers find out too late.