News & Events

Partner Ryan Brizek was quoted in a Hedge Fund Law Report article titled, “Retailization of Private Funds: Practical Consequences (Part Two of Two),” which discussed what expanded retail investor access to investment strategies historically implemented by hedge funds would mean in practice for investors and managers, and the challenges such access would entail. Ryan noted that, when considering the potential expansion of access, investors may find that certain hedge fund strategies such as private credit have been available to investors through existing retail channels for some time. He further explained that for hedge fund managers that manage capacity constrained quantitative strategies, “the bigger question is whether they have the capacity [to offer the strategy more broadly]. And are they going to be comfortable with quarterly reporting of their holdings and the potential for reverse engineering?” Ryan also added that “the changes that have happened at the regulatory level this year are not really impactful for private credit hedge funds” since many of those managers already offer evergreen retail funds structured as BDCs or interval funds.

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