Insights for emerging fund managers
Practical guides and analysis on fund structuring, regulatory frameworks, and operational best practices.
The fund administrator problem: why only 20% of managers would recommend theirs
An EY survey found that only one in five asset managers would recommend their fund administrator. Here is what goes wrong, what the red flags look like, and how to avoid the same mistakes.
Building a compliance program for your first fund: what the SEC actually expects
The SEC examines newly formed fund advisers with increased frequency. Here is how to build a compliance program that holds up under scrutiny.
UAE corporate tax and ADGM funds: how to maintain 0% through Qualifying Free Zone Person status
The UAE's 9% corporate tax does not have to apply to your ADGM fund. Qualifying Free Zone Person status preserves 0% — but the conditions are strict and the compliance is ongoing.
EuVECA registration in Austria: a faster route to pan-European VC fundraising
Austrian VC managers can register under the EuVECA framework for simplified cross-border marketing across the EU. The 2018 amendments made it more practical. Here is how it works and where it falls short.
Launching a fund in Austria: the full process from FMA registration to first close
Austria uses a GmbH & Co. KG fund structure under the AIFMG framework. Here is what the end-to-end launch process looks like when you work with a fund services provider.
Launching a Cayman fund end-to-end: from CIMA registration to ongoing operations
What the full process actually looks like when you work with a fund services provider — formation, CIMA registration, investor onboarding, first close, and ongoing compliance.
Setting up a fund in France: AMF registration, fund structures, and what the SLP changes
France offers emerging managers a streamlined path through sub-threshold registration and professional fund vehicles like the FPCI and SLP. Here is how the system works and where it gets complicated.
Carried interest in German funds: how GP compensation actually works in a GmbH & Co. KG
Germany taxes carried interest at an effective rate of about 28.5% — if you get the structure right. Most first-time managers do not. Here is what the qualified carry regime requires and where it breaks down.
German withholding tax on fund distributions: what foreign LPs need to know
If your German fund has international investors, withholding tax on distributions is not optional. The base rate is 26.375%, treaty relief can bring it down significantly, but only if you apply for it correctly and on time.
Launching an AIF in India: what the process looks like from SEBI registration to first drawdown
India's AIF framework under SEBI has specific requirements around categories, trust structures, and merchant banker due diligence. Here is what the end-to-end launch looks like.
Launching a RAIF in Luxembourg: timeline, costs, and what we handle
The Reserved Alternative Investment Fund has become the default Luxembourg vehicle for emerging managers. Here is what the launch process looks like end to end — from AIFM appointment to first close — and how the work is divided between the manager and the fund services team.
Tax election strategy: SICAR-like vs. SIF-like RAIFs and the subscription tax
Luxembourg RAIFs let you choose your tax regime at formation. Pick wrong and you either overpay or lock yourself into a structure that does not fit your strategy.
Fund manager registration in Poland: the ASI structure and what the KNF process looks like
Poland's ASI vehicle and simplified ZASI registration give emerging managers a fast, low-cost path to launching a fund. Here is how the system works and what to watch out for.