Liquidity concerns drive demands

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The redemption and liquidity requirements demanded by investors affect the type and liquidity of investments a hedge fund can make, explain Catherine Gardner and Fred Levy at Brown Rudnick in Washington. They say many investors are requiring managers to eliminate or reduce the use of side pockets and want to eliminate the ability of managers to restrict redemptions.

Henry Bregstein at Katten Muchin Rosenman in New York agrees there is increased scrutiny of whether the liquidity of the underlying

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