Despite that clarity, subsequent guidance is still pending with respect to many issues, according to the most recent issue of Grant Thornton LLP’s Hedge FundAdviser.
Among the issues: the impact on partnerships, the applicability of the rules to fund managers, the structuring of management fees associated with “side pockets” or unredeemable and illiquid investments, and the timing of initial deferral elections for newly established funds.
The report, How the new deferred compensation regulations affect hedge funds , is available online HERE