The Securities and Exchange Commission (SEC) has introduced new rules to address conflicts of interest when advisers offer investors the choice between selling or exchanging their interests in a private fund for interests in another vehicle managed by the adviser or related parties. In this piece, we explore the impacts of these new rules for investors and managers and highlight considerations for effective implementation.
Following loss events, there is often significant valuation uncertainty in ILS funds requiring the use of side pockets. This memo discusses the objectives of Side Pockets, ILS specific considerations and The Alternative Investment Standards
In Alternative Credit funds, there are specific conflicts of interest that can arise due to the nature of the strategy. This memo discusses these conflicts in the context of the Alternative Investment Standards and provides guidance on conflicts of interest specific to Alternative Credit.
When running parallel funds there are conflicts of interest that will arise that need to be managed and mitigated appropriately. Our Alternative Investment Standards were updated in 2015 to account for these and this memo looks at how the Standards address these issues.
The Hedge Fund Standards Board (HFSB) is proposing changes to its Standards to improve disclosure of conflicts of interest to investors. The proposed changes also seek to strengthen internal compliance procedures to mitigate conflicts of interest.
