By: Stephen H. Bier, Aisha Hunt, and Jonathan R. Massey,
So you are an investment adviser registered with the Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940, as amended (“Advisers Act”). You currently manage separate accounts and, perhaps, one or more private funds, but you are interested in getting into the registered fund business. As an SEC registered adviser, you have already adopted compliance policies and procedures pursuant to Rule 206(4)-7 of the Advisers Act and you are certainly eligible to advise a registered investment company.1 So you’re good to go? . . . Not so fast.
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Aisha Hunt, Partner, Financial Services Group, Dechert LLP is one of the Alternative Strategy Mutual Funds Forum esteemed speakers.