This is a brief excerpt of a sample Real Estate Fund Private Placement Memorandum (PPM) with footnoted explanations of the PPM provisions.
The PPM is based on a fictitious master-feeder hedge fund using a global fixed-income arbitrage strategy. The accompanying explanations discuss the reasons behind certain disclosure language as well as more detailed examination of certain fund topics and how they apply to the disclosure document.
The excerpt also provides drafting tips, best practices recommendations, potential pitfalls and common mistakes in hedge fund PPMs. The fictitious feeder fund XYZ, LP is a domestic feeder fund to a Cayman Island master fund. Although the XYZ Feeder Fund, LP specifically uses a fixed-income arbitrage strategy, the explanations provide information that should be helpful to fund managers using any strategy.Read Now
A private equity fund is a pooled investment vehicle created for investments in equity securities and real estate. This white paper discusses some of the key structural considerations and investment terms involved in starting a private equity fund. The term “private equity fund” covers a broad spectrum of closed-end investment strategies, including early state funds (venture-capital), growth equity funds, leveraged buyout funds, and real estate funds. For specific information on structuring a real estate fund, see our white paper entitled: Forming a Real Estate Fund–Strategy, Structure and Investment Terms.Read More White Papers
New York is the world’s most popular jurisdiction for starting a hedge fund, as well as one of the top states for startup private equity funds, real estate funds and other alternative investment...Read more
The process for starting a hedge fund involves much more than a hedge fund attorney drafting the disclosure documents and preparing regulatory filings. Drafting the documents is...Read more
Dodd-Frank exempts from registration two types of advisers: (i) advisers to qualifying venture capital funds; and (ii) advisers solely to private funds (including hedge funds and private equity...Read more