How long will it take for the fund to be up and running?
The answer can vary significantly. Generally, a manager should anticipate eight to twelve weeks, although more time may be required if the manager must register as an investment adviser with federal or state authorities.
Managers often can expedite the launch date. For example, they may save time and legal fees by helping the attorneys to draft the “Investment Objective and Strategy” section of the confidential private placement memorandum. Understanding clearly the different compensation structures available to the manager – and selecting a relatively uncomplicated structure from among those choices – can also save time, and may save additional time and money down the road.
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