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3(c)(1) Funds vs. 3(c)(7) Funds

September 21, 2017 by Alexander J. Davie

3(c)(1) fund vs 3(c)(7) fundThe process of starting a new hedge fund or private equity fund involves choosing whether the fund will be structured as a “3(c)(1) fund” or a “3(c)(7) fund.” Many new fund managers are confused by the difference between the two, which refer to two different exemptions from the requirements imposed on “investment companies” under the Investment Company Act of 1940 (the “Act”). [Read more…]

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Filed Under: Private Equity and Hedge Funds Tagged With: 3(c)(1), 3(c)(7), Investment Company Act, PF Recent, Private Funds, Recent

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Strictly Business is a business law blog for entrepreneurs, startups, venture capital, and the private fund industry. Its editor is Alexander J. Davie, an attorney at Riggs Davie PLC based in Nashville, Tennessee. His practice focuses on corporate, securities, and business law. He works mainly with technology companies, including startups and emerging companies, and private equity, venture capital, and hedge funds.
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