How to Navigate a Prime Brokerage Agreement
The relationship between hedge funds and prime brokers drives the alternative
investment industry and our financial markets. Neither could exist without
the other. This partnership is based on the prime brokerage agreement. How are these crafted? On what requirements are they based?
The Credit Crisis is continuing. Hedge funds and prime brokers are not immune from its ravages. The Madoff affair is casting a shadow over the AI industry. Attend this event and understand what factors led to this crisis and what lies ahead for hedge funds and prime brokers. This unique one day workshop concentrates on prime brokerage agreements. It helps you understand how hedge funds obtain the capital they need to trade, hedge their portfolios and deliver absolute returns. It explores how prime brokers operate during each phase of a hedge fund's life. It explains how to navigate the intricacies of provisions such as collateral, charges, margin requirements, events of default, remedies and funding. It also explores what happens when something goes wrong: litigation, reorganisation and insolvency. It concludes with a discussion of ancillary documents such as ISDAs and GMSLAs.
Topics to be covered:
• The hedge fund-prime brokerage relationship
• Strategies, securities and markets for hedge funds
• RFP process to select a prime broker
• The relationship among investment manager, administrator and prime broker
• The US and non-US hedge fund models
• Analysing a prime brokerage agreement
• Offering memorandum disclosures
• Prime brokerage operations
• Conflicts of interest
• ISDAs and GMSLAs
• Key clauses in the prime brokerage agreement
• How certain events play out under the key clauses
• What happens when things go wrong?
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