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A New Paradigm for Hedge Fund, Captive Fund, and Managed Account Terms and Conditions: A Step Toward Greater Alignment  


Author:  Jedd H.  Wider.


Source: Volume 24, Number 02, November/December 2010 , pp.51-58(8)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

New regulations are not the only critical issue in the hedge fund universe. Many investors and managers are recalibrating the terms and conditions associated with hedge fund investments, as well as the form in which such capital is invested. This article examines some of the principal terms and conditions of hedge fund investments, and reviews new approaches to resolving investors’ issues and concerns, with a particular focus on how carried interest is now being calculated to better align the interests of hedge fund managers with those of investors.

Keywords: hedge funds; captive funds; managed accounts; carried interest; conflicts of interest; indemnification and exculpation provisions

Affiliations:  1: Morgan, Lewis & Bockius LLP .

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