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.
ADGM Category 3C licensing: the fund manager licence and the sub-threshold shortcut
ADGM's Category 3C licence is the gateway for fund managers in Abu Dhabi. A proposed sub-threshold framework could cut capital requirements and approval times in half for emerging managers.
ADGM fund classification: Exempt vs. Qualified Investor Funds and what the minimums mean for your raise
Choosing between an Exempt Fund and a Qualified Investor Fund in ADGM is not a technicality. The minimum subscription threshold — $50,000 or $500,000 — shapes your investor base, your fundraise, and your admin costs.
AIFMD II in Austria: what the loan origination rules and liquidity tools mean for your fund
Austria's AIFMD II implementation lands in April 2026 with new concentration limits, leverage caps for loan-originating funds, and mandatory liquidity management tools for all open-ended AIFs. Here is what emerging managers need to know.
AIFMD licensing vs. registration in Austria: which path fits your fund
Austria's AIFMG gives emerging managers a choice between full licensing and simplified registration. The thresholds, obligations, and costs are different enough that the decision shapes your entire fund launch.
Closed-ended vs open-ended funds in the Cayman Islands: which structure fits your strategy
The Cayman Islands has two distinct regulatory regimes for funds. Picking the wrong one will cost you months and money. Here is how to decide.
Why the exempted limited partnership dominates Cayman fund formation
Around 90% of Cayman alternative investment funds use the ELP structure. Here is what makes it the default for emerging managers and what you need to know before forming one.
German partnership tax returns: the filing obligation that catches fund managers off guard
If your fund has two or more German investors, you are required to file an annual partnership tax return in Germany. Most managers find out too late.
Sub-threshold AIFM registration in Germany: what emerging managers actually need to know
Germany lets fund managers operate under a light-touch registration if they stay below the AUM thresholds. Here is how it works, what it costs, and where it breaks down.
AIF category selection in India: the decision that shapes everything else
Category I, II, or III — the AIF category you pick determines your tax treatment, investment restrictions, investor base, and regulatory burden. Get it wrong and you cannot easily switch.
SEBI AIF registration: what the process actually looks like from the inside
SEBI registration takes 60-90 days if your application is complete. Most first-time managers add months by underestimating the PPM requirements and merchant banker coordination.
AIFM registration vs. authorisation in Luxembourg: understanding the EUR 100/500 million thresholds
Every Luxembourg fund manager must choose between registering as a sub-threshold AIFM or seeking full authorisation. The thresholds are simple, but the consequences of getting it wrong are not.
RAIF vs. regulated fund structures: choosing the right speed to market in Luxembourg
Luxembourg gives you three ways to structure an alternative fund. Only one of them lets you skip CSSF approval entirely — and that changes everything for a first-time manager.
Fund manager licensing in Singapore: choosing between VCFM, A/I LFMC, and RFMC
MAS offers three licensing tiers for fund managers. Picking the wrong one costs you time, money, and flexibility. Here is how each actually works.
The Variable Capital Company: Singapore's purpose-built fund vehicle
The VCC is now the default structure for new fund launches in Singapore. Here is what it does, what it costs, and why it beats the alternatives for most emerging managers.
The UK's three-tier AIFM system: picking the right regulatory path for your fund
The UK runs three distinct AIFM classifications, each with different costs, timelines, and obligations. Most emerging managers only need to care about two of them.
UK limited partnerships: why they dominate fund structuring and how to set one up
The English or Scottish LP is the default structure for UK private capital funds. It has been for over a century. Here is what emerging managers need to know before forming one.
The UK's RVECA regime: the lighter path to running a regulated VC fund
Full AIFM authorisation is not the only path to running a UK venture fund. RVECA registration gets you there faster, cheaper, and with less overhead.
Delaware LP formation: why it is the default for US venture funds
Over 70% of US venture funds form in Delaware. Here is what that actually means for your fund structure, tax treatment, and ongoing obligations.
SEC registration for emerging fund managers: exemptions you need to know
Most first-time fund managers do not need full SEC registration. The exemption framework exists for a reason — here is how to use it properly.
AI for fund managers — a practical starting point
Where AI actually helps a small fund team today, where it is getting useful, and where it is mostly hype. A practical guide from someone building it.
AMLD6 - the EU's escalating fight against financial crime
The 6th Anti-Money Laundering Directive tightens the screws further. Here is the timeline, what is new, and why emerging managers should pay attention.
The SPV-to-fund playbook: what the data says about building a track record
SPV formation is up 116% in five years. But not all SPV track records are created equal — here is what LPs actually evaluate and where most emerging managers go wrong.
DORA - do you need to care about digital operational resilience?
DORA sounds like a regulation for banks. But it affects your fund administrator, and that means it affects you. Here is what matters.
The new EU AML rulebook — what it means for your fund
The EU just replaced a patchwork of national AML rules with one uniform rulebook. Here is what changed, when it kicks in, and what you need to do.
Why European VC still lags the US (and why that's an opportunity)
The transatlantic VC gap is real but closing. For European managers who move fast and operate professionally, the structural inefficiencies create outsized opportunity.
FATCA & CRS - what fund managers actually need to know
Cut through the legalese. Here is what FATCA and CRS mean in practice for your fund: who you report on, what forms you collect, and what happens if you get it wrong.
Why more funds die from operations than bad investments
A landmark study found that 50% of fund failures stem from operational risk — more than the 38% caused by poor investments. Here is what that means for your fund.
Launching a fund in Europe without drowning in regulation
Europe offers lighter regulatory paths for emerging managers. Here is how sub-threshold AIFM, EuVECA, and other frameworks can get you to market faster.
Private markets are booming — what it means for emerging managers
Companies are staying private longer, LP interest is growing, and the operational bar is rising. Here is how to position yourself in this market.
Technology in fund operations — what's actually essential
Not all fund tech matters equally. Here is what actually moves the needle for emerging managers — and what is noise.
When to switch your fund administrator (and how to do it)
Five signs it is time to move on, when not to switch, and a practical migration playbook for making the transition without disrupting your fund.