Financial News: Funds of Hedge Funds Seeking Capital from Retail Market

On January 21, Financial Services partner George M. Silfen was quoted in a Financial News article titled "Funds of Hedge Funds Eye Retail to Halt Meltdown." In an effort to stem losses in the institutional market, an increasing number of funds are registering under the 1940 Investment Company Act with the SEC, giving them access to retail investors. Mr. Silfen stated “This is converging with funds of funds managers who want to diversify their business line. It makes for a good marriage.” This trend allows funds to tap into more clients, but restricts the performance fee percentages that they can charge.