Establishing a Hedge Fund Key Structuring Considerations

Contents 1. Introduction

3 3 3 3 3 4

2. Investors

a. Initial and Target Investor Base

b. Investor Jurisdiction and Tax Preferences c. Other Investor Type Considerations d. Accessing Capital and Marketing Considerations

3. Key Structural Considerations

4

a. Open-Ended or Closed-Ended; Liquidity b. Standalone or Master-Feeder Structure

4 4 5 5 6

c. Single Cell or Umbrella Structure; Single vs. Multiple Strategies

d. Third-Party Fund Platforms

e. Managed Accounts

4. Jurisdiction; Where Should the Fund be Domiciled?

6

a. Overview

6 7

b. Key Fund Jurisdictions

5. Fund Directors and Service Providers

8

a. Fund Directors

8 8

b. Certain Key Service Providers

6. UCITS

9

7. Hedge Fund Offering Terms

10

a. Accumulation/Distribution Policy

10

b. Base Currency of Account and Currency Classes

11 11

c. New Issues

d. Management Class

12 12 13 13

e. Fee Structure

f. Frequency of Dealing

g. Managing Exceptional Circumstances

8. Contact

15

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