Hedge Fund Governance: Evaluating Oversight, Independence and Conflicts summarizes the fundamental elements of hedge fund governance and principal perspectives on governance arguments. An authoritative reference on governance, it describes the tools needed for developing a flexible, comprehensive hedge fund governance analysis framework. Case studies and interviews with professional fund directors shine a bright light of pragmatism on this framework. The author's global analysis of more than 5,000 hedge fund governance structures enables him to draw realistic conclusions about best practices. He also explores the value consequences of good vs. bad governance, estimating the actual dollar losses that can result from bad governance, as well as the operational and investment performance benefits of certain governance practices.
- Presents methods for evaluating qualifications, conflicts of interests, fees, obligations and liabilities of hedge fund Boards of Directors.
- Explains techniques for developing a hedge fund governance assessment program, including analyzing legal documentation analysis and financial statements for governance related information.
- Uses case studies and example scenarios in hedge fund governance successes and failures to explore investor governance rights and fund manager responsibilities in onshore and offshore jurisdictions.
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- Introduction to Hedge Fund Governance
- Hedge Fund Board of Directors: A Governance Proxy?
- Regulatory Governance of Hedge Funds
- The Role of Fund Service Providers in Implementing Governance
- Hedge Fund Internal Governance Mechanisms
- Developing a Framework for Investor Analysis of Hedge Fund Governance
- Investor Activist Driven Governance and Ongoing Monitoring
- Case Studies and Example Scenarios in Hedge Fund Governance
- Analyzing Governance in Fund Valuations
- Field Perspectives on Governance: Interviews with Those Involved in Various Aspects of Hedge Fund Governance
- Good Governance in Bad Situations: Understanding Governance During Fund Turmoil and Liquidations
- Trends and Future Developments
Jason Scharfman is the Managing Partner of Corgentum Consulting, LLC. He is recognized as one of the leading experts in the field of hedge fund operational due diligence. Before founding Corgentum, he oversaw the operational due diligence function for a $6 billion alternative investment allocation group called Graystone Research at Morgan Stanley. He earned an M.B.A. in finance from Baruch College's Zicklin School of Business and a J.D. from St. John's School of Law. He is admitted to the practice of law in New York and New Jersey. Additionally, he holds the Certified Fraud Examiner (CFE) and Certified in Risk and Information Systems Control (CRISC) credentials.