KEYWORDS: Form PF, administrator, Hedge Fund Regulation, hedge fund registration, net asset value, NAV, Hedge Fund Managers, information aggregation, RAUM, AUM, assets under management, regulatory AUM, Form ADV, private placement, Dodd-Frank Act, private placement memorandum
Mike Sleightholme, Peter Hill
As recently as five years ago, a hedge fund’s administrator could be responsible for as little as calculating monthly NAVs and contributing some investor-relevant data for quarterly reporting. But following the financial crisis and demands from investors calling for greater liquidity and transparency into operations, running a hedge fund business has become more costly and complex. At the same time, many large firms have expanded through acquisitions and begun offering new fund structures and products, despite the compounding global regulatory requirements.