Hedge fund onboarding

Confirm the hedge fund's legal name and structure

Obtain the fund's registration number and relevant licenses

Collect the fund's offering documents (PPM, LPA, etc.)

Gather the fund's investment strategy and objectives

Conduct background checks on key personnel

Review the fund's historical performance and track record

Analyze the fund's risk management framework

Verify compliance with regulatory requirements

Sign the Investment Management Agreement

Execute Subscription Documents

Review any side letters or special arrangements

Ensure Anti-Money Laundering (AML) and Know Your Customer (KYC) documentation is complete

Here are some additional steps that could be included in the Legal Documentation section of a New Hedge Fund Onboarding Checklist

Verify the fund's offering memorandum or private placement memorandum (PPM) is complete and accurate

Obtain and review the fund's organizational documents (e.g., limited partnership agreement, operating agreement)

Confirm the execution of any necessary regulatory filings related to the fund structure (e.g., Form D, state notices)

Ensure compliance with any applicable investor qualification criteria outlined in the fund's documentation

Review and finalize any investor-specific agreements (e.g., investor questionnaires)

Obtain signatures on any required tax documentation (e.g., W-9, W-8)

Ensure that all necessary disclosures have been provided to investors in accordance with regulatory requirements

Confirm that any required legal opinions have been obtained and are current

Review any confidentiality agreements related to sensitive information shared with investors

Ensure that any required disclosures regarding conflicts of interest have been communicated and documented

Verify that the fund's marketing materials comply with legal and regulatory standards

Document the process and retain copies of all signed legal documents for record-keeping and compliance purposes

Set up the fund's bank account and custodial arrangements

Confirm trade execution and settlement processes

Establish reporting requirements and frequency

Implement technology solutions for data and reporting

Schedule an onboarding meeting with the client

Provide the client with necessary educational materials

Discuss investment timelines and liquidity terms

Clarify fees and expenses associated with the fund

Ensure adherence to local and international regulations

Set up ongoing compliance monitoring processes

Prepare for audits and regulatory examinations

Conduct a final review of all documentation

Confirm all parties involved are aware of their roles

Ensure all systems are operational for fund launch

Obtain final sign-offs from compliance and legal teams

This checklist should help streamline the hedge fund onboarding process!