Category: Fund Structuring
-
Episode 5: What Fund Administrators Really Do: The Work Behind the Scenes
This episode breaks down the roles and workflows of fund administrators through three visual diagrams. From capital calls and distributions to daily accounting and investor reporting, we explore what happens behind the scenes in fund operations.
-
Episode 4: Why Japan Loves Unit Trusts (again) — and When Partnerships Work Better
A clear comparison of Japan’s unit trusts and partnership structures. This article explains how history, liquidity, tax treatment, and investment targets shape the choice of vehicle for practitioners and international readers.
-
The Essence of Cayman Directorship: Role Allocation, Responsibility Boundaries, and Governance Design Through the Lens of Japanese Corporate Directors
A quiet, structured look at Cayman directorship through the lens of Japanese corporate governance. Explains role allocation, responsibility boundaries, and why allocation and exit conflicts arise in offshore fund structures.
-
Episode 3: Comparing the three vessels of fund structures
A quiet, structured comparison of Japan’s three fund “vessels”: company-type, contract-type, and partnership-type. Explains governance, liability, transparency, and the differences among NK, TK, and LPS.
-
Fund Governance Doesn’t Move with a Legal Shell: The Corporate Secretary as the Hidden Backbone
Fund governance does not move with legal “boxes” alone. What truly matters is the process behind investment decisions, delegation, monitoring, documentation, and transparency. This article explains the role of the Corporate Secretary—a governance professional widely recognized in offshore fund jurisdictions—how it differs from a Registered Office, and why Japan’s fund structures lack a clear framework…
-
How Many Times Does a Person Actually Build a Fund in Their Lifetime?
Most people will never build a fund in their entire life. Even in the investment industry, only a tiny fraction of professionals ever become GPs, and most of them will launch maybe one or two funds over the course of their career. A handful might reach ten. That’s it. Which means something important: fund structures…