The Law of Private Investment Funds offers lawyers a practical analysis of the legal and regulatory issues that arise from the structure and marketing of private investment funds both from the UK and US perspective. The book opens with a discussion of the general legal and regulatory duties of the fund manager. Running throughout the work are the themes of investor protection and fiduciary challenge. These ideas are considered in the context of the various sources available for investor protection including the substantive rights and obligations under general law, criminal law provisions and voluntary and statutory rights of regulation. In particular the question of how the integrity of a fiduciary relationship can be maintained with disparate and distant clients is addressed. Against the backdrop of regulation and investor protection the author considers the various aspects of running private investment funds. Issues such as structuring and launching, and marketing private investment funds are considered in full. The author also looks at the fiduciary challenge as far as limited partnerships and offshore companies are concerned. The final chapter of the work considers the limits of regulation and takes a practical view of development in the UK and US. Conclusions are drawn about how far regulatory changes have met the concerns of investors following recent scandals such as Enron and World.com.