CHAPTER 3Hedge Fund Organization

This chapter covers certain organizational issues of hedge funds, including the types of documents associated with hedge funds, issues of redemptions and fees, and the important issue of the alignment (or misalignment) of interest between hedge fund managers and investors.

OFFERING DOCUMENTS

Before investing in a hedge fund, investors are presented with a variety of documents, each with a specific purpose. Investors need to keep in mind that these documents are written by attorneys to protect the interests of the general partner and/or the investment company. As such, a primary purpose of these documents is to ensure that their legal liability has been reduced as much as possible through the use of disclaimers. ...

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