Hedge Fund Glossary

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Qualified Purchaser

refers to the super-wealthy, meaning either: a) an individual with five million dollars in investments, b) an institutional investor with $25 million in investments; c) a family owned company with five million dollars in investments; d) a trust where the trustee and each person who contributes assets to the trust is a Qualified Purchaser; e) a "Qualified Institutional Buyer" under Rule 144A of the 33 Act, except that "dealers" under Rule 144A must meet the $25 million standard of the 1940 Act, rather than the $10 million standard of Rule 144A; or f) a company owned beneficially only by Qualified Purchasers.

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