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Hedge funds and private equity funds involve the allocation and investment of trillions of dollars, ultimately in a wide range of financial instruments and numerous operating companies across a variety of industry sectors. In recent years, managers of these ‘alternative investment funds’ have become subject to heightened scrutiny from regulators and the media. This subject provides an opportunity to learn in detail about the structuring and operation of hedge funds and private equity funds, providing students with an advanced and specialised knowledge in the relevant areas of law, and will examine recent developments in these areas.
Principal topics include:
- Introduction to hedge funds and private equity funds
- Dramatis personae
- Overview of regulatory issues relating to structuring
- Overview of regulatory issues relating to marketing
- Investors and due diligence issues
- Investment objectives and restrictions
- Legal documentation for a hedge fund
- Current issues related to hedge fund managers and investors
- Legal documentation for a private equity fund
- Current issues related to private equity fund managers and investors.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the motivations driving both fund managers and fund participants when establishing a new fund; how fund managers and fund participants navigate the complex set of laws, regulations, and tax requirements (as well as the various exemptions) that apply to these funds and their managers; and the structural aspects, the investment objectives and marketing practices of hedge funds and private equity funds
- Have an advanced understanding of the key legal documentation used in practice and be able to critically examine, analyse, interpret and assess the effectiveness of such documentation
- Have the cognitive and technical skills to independently examine, research and analyse legal and regulatory issues regarding hedge funds and private equity funds
- Have the communication skills to clearly articulate and convey complex information regarding hedge funds and private equity funds.
Last updated: 13 November 2019