How can I best do due diligence of that fund and fund manager? Can the fund switch fund manager without letting the investors know?
The role of the fund manager in a qualified opportunity fund (QOF) and the ability to switch the manager will depend on the LLC or partnership agreement (as applicable) of the QOF. Accordingly, as a matter of diligence, your first step is to obtain that agreement.
The fund manager (or sponsor) is responsible for organizing the fund, finding investors, administering the fund and ensuring compliance.
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