The new edition of The Law of Private Investment Funds offers a practical analysis of the legal and regulatory issues that arise in connection with the structuring, formation, and operation of private investment funds, including hedge funds, private equity funds, real estate funds, and other non-retail collective investment vehicles. The book provides a unique analysis of these funds on a pan-asset class basis, as well as from a US, UK, and European perspective. The themes of investor protection and fiduciary challenge are considered in the context of the various sources available for investor protection including the substantive rights and obligations under general law, and voluntary and statutory rights of regulation. The author considers the various aspects of running private investment funds against the backdrop of regulation and investor protection. Issues such as structuring and launching, and marketing private investment funds are considered in full. The author also looks at the governance challenge where limited partnerships and offshore companies are concerned.
The book identifies governance as a key issue for private investment fund participants and discusses in depth several ways in which managers and fund participants can improve the governance of their funds. In addition it analyses the consequences and impact of the recent global financial crisis on private funds, and the response of the US, UK, and European regulators. The new edition includes increased coverage of best practice and industry guidelines, including the ILPA Guidelines for private equity funds, and the MFA's Best Practices for hedge funds. It also provides discussion of new regulatory regimes in the US and EU, including the Dodd Frank Act and AIFMD.
Publisher: Oxford University Press
Number of pages: 328
Weight: 708 g
Dimensions: 247 x 180 x 24 mm
Edition: 2nd Revised edition
Review from previous edition Mr Spangler's extensive practical experience is evident throughout the book, and he succeeds in explaining complex structures and concepts in practical terms. The book is very clearly written, and jargon-free. The presentation is excellent and the index and tables of cases are accurate and comprehensive. * David Stokes, Journal of International Banking Law and Regulation *
It is a timely contribution on the law of these funds, which should lead to deeper reflection about this important sector * Jersey and Guernsey Law Review *
This is a rare legal publication, written by a senior practitioner in the field, which develops an important thesis in an area not previously addressed in such depth. It will be of benefit to all funds lawyers * Jersey and Guernsey Law Review *
Mr Spangler's book is a valuable practical guide for the practitioner intending to become involved in this work or to gain an understanding of the market * David Stokes, Journal of International Banking Law and Regulation *