Funds-of-One and Managed Accounts Amid Challenging Capital Raising and Regulatory Climates

Faced with continued regulatory changes and one of the most challenging fund-raising environments of the past 20 years, now is a vital time for investment managers and large institutional allocators to consider their fund structuring options. Traditional structures, in particularly those within the scope of the SEC’s August 2023 rules for Private Fund Advisors, tend to limit the ability of the investment manager to negotiate individual arrangements with an allocator. Structures such as funds-of-one, separately managed accounts and managed account platforms offer solutions that work for the fund manager and allocator alike.