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In Plain English A publication of THE SECURITIES LAW GROUP | James E. Grand | July 2024 This post highlights some of the guardrails imposed on private fund advisers when they are presenting predecessor performance information in a fund’s marketing materials and offering documents. “Predecessor performance” commonly arises when investment personnel attempt to port their […]

In Plain English A publication of THE SECURITIES LAW GROUP | James E. Grand | June 2024 In recent years, a substantial percentage of the capital invested in hedge funds has been allocated to managers with over $1 billion in assets under management. Indeed, recent studies put the number at approximately 90%. Large institutional investors […]

All registered investment advisers—including exempt reporting advisers—are required to file various regulatory and compliance filings throughout the year. THE MOST IMPORTANT OF THEM IS THE ANNUAL UPDATING AMENDMENT ON FORM ADV. The various filing requirements differ slightly for SEC-registered investment advisers, state-registered investment advisers and exempt reporting advisers. The specific requirements are summarized in this brief overview.