Define the fund’s investment objective and strategy
Choose the fund structure and legal jurisdiction
Form the management company and appoint key personnel
Hire legal, compliance, accounting, and operations support
Draft the offering documents and governing agreements
Register the fund and obtain required regulatory approvals
Establish custody, administration, transfer agency, and audit arrangements
Set up valuation, pricing, and risk management policies
Create subscription, redemption, and distribution procedures
Develop the fee structure and expense policy
Prepare marketing materials and investor disclosures
Launch the fund and begin accepting investments
Monitor performance, compliance, and reporting obligations