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Hedge Funds Reject JOBS Act

Oct 15, 2013
Jing Chen

Despite finally being allowed to freely advertise to the public for the first time in decades, hedge funds and private equity funds are slow to take advantage of the newly-imposed JOBS Act.

Anthony Scaramucci, founder of fund of hedge funds firm SkyBridge Capital, told Financial Times that many hedge fund professionals “think [advertising to the public] is gauche and déclassé.”  The article added that other advisers to major hedge funds believe that advertising could be interpreted as a sign that the firm is struggling to raise capital.

The JOBS Act, which took effect in September, lifts the longstanding rule that bans hedge funds from soliciting or advertising to the general public.

Despite being allowed to publicly promote their funds, managers are still only able to accept capital from accredited investors.


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