What service providers do I need to hire? Should I retain them in any particular order?
A manager needs four main service providers to launch a fund: (1) attorney (2) administrator (3) prime broker and (4) audit-tax firm (sometimes managers elect to engage two different firms for audit and tax, but typically one firm does both). We advise engaging an attorney first, since drafting the offering materials and registering the management company (sometimes required) can take some time. While the attorney is working on the legal issues, the manager can evaluate and select the other three providers.
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