Commitments to Private Equity (PE) are breaking records, as investors seek better returns. At a time when the global hedge funds industry has seen record recent net outflows, some of hedge funds managers, who are riding this new wave, are choosing to launch hybrid PE-style funds, to tap into investor demand.  However, the ones who go down this path should be mindful of numerous operational traits, when morphing from an open-ended to a closed-ended fund structure.  Scott Burns (pictured), Senior Vice President of Horseshoe Group, a leading fund administrator specialised in alternative Investments comments: “We provide fund administration solutions to both PE and Hedge Fund managers.