This study provides data points regarding investment strategies, incentive allocations/management fees, liquidity, structures and seed capital activity among newly formed hedge funds sponsored by U.S.-based managers entering the market.

This study presents the current state of SPV environment within the investment fund market.

This study provides data points regarding the current state of the seeding environment, including working capital support, lock-ups, buyouts, indemnification and more.

This series provides data points regarding side letter terms negotiated by our hedge fund manager clients from 2019 to 2023.

A series of yearly reports analyzing the state of the SMA environment, including strategies, termination rights, MFN provisions and more, within the hedge fund market.

These documents compare the terms among a select number of seed transactions.

This series analyzes the views of personnel who work at various types of investment allocators.

This memo analyzes the different investment structures a manager can consider when evaluating an opportunistic investment opportunity.

In this FF episode, we speak Leor Shapiro, Global Head of Capital Intelligence at Jefferies LLC.

In this FF episode, we speak with Christopher Fields, Dan McGowan, and Nicole Belmont.

In this memo, we set forth a number of approaches that are available to hedge fund managers which may help them to (i) build a track record, (ii) keep costs down, and (iii) expand when appropriate.

While the concept of a pass-through expense model is most often associated with multi-strategy alternative investment funds, this expense structure is beginning to gain wider traction among other managers as well, depending on various considerations.