Christopher Hilditch joined the firm in 2002 to establish the London office, of which he is co-head. With over 25 years of experience advising many of the highest profile hedge funds, Chris focuses his practice on entrepreneurial and institutional investment managers, other financial services firms and investment funds, especially hedge funds, hybrid funds, co-investment funds and distressed funds. He provides practical and strategic advice on the structuring and operation of funds and investment managers, including fundraising, investor issues, investment transactions and financing as well as regulatory and compliance matters.
Chris was recently named to the “Hall of Fame” by The Legal 500 UK having previously received an “Outstanding Contribution” award for his services to the hedge fund industry (The Hedge Fund Journal Awards). Chris has also been named as a leading funds lawyer in Best Lawyers, Chambers UK, Chambers Europe, Expert Guide to the Best of the Best (which named him as one of the top 25 funds lawyers worldwide), Expert Guide to the World’s Leading Banking, Finance and Transactional Law Lawyers, IFLR1000, PLC Cross-Border Investment Funds Handbook, Who’s Who Legal: The International Who’s Who of Private Funds Lawyers and Who’s Who of Professionals. Chris has been described by interviewees in Chambers UK as “fantastic — practical, commercial and knows his stuff” and as a “go to lawyer for dealing with a complicated hedge fund” and in The Legal 500 UK as “excellent” and “knows the industry inside out.” Clients praise his “very strong technical knowledge and commercial awareness” as well as his “deep knowledge and experience in the fund industry.” Chris has participated in the UK Financial Services Authority’s Legal Experts Group in respect of AIFMD and has been an active participant on various AIMA and other industry committees on matters relating to the hedge fund industry. Chris is a frequent speaker at industry conferences and seminars, including invitation-only conferences for clients of prime brokers and other industry participants. He has also written on a wide range of hedge fund and regulatory topics. Chris is the general editor of the Chambers Alternative Funds Guide — a guide examining key industry trends and regulatory and tax matters impacting funds, managers and investors. Chris attended law school at the College of Law, Guildford and holds an MA, with honours, from the University of Oxford.
Publications
Alternative Funds Guide 2022 (Chambers) (General Editor)
Alternative Funds Guide 2021 (Chambers) (General Editor)
“Private Funds Market Trends Report,” SRZ Publication, June 2021
“Brexit and Marketing Notifications under AIFMD,” SRZ Alert, 25 November 2020
Alternative Funds Guide 2020 (Chambers) (General Editor)
“Private Funds — Market Trends Report,” SRZ Publication, October 2020
“Private Funds — Market Trends Report,” SRZ Publication, 13 May 2020
“Private Funds — Ideas for Raising New Capital During the COVID-19 Dislocation,” SRZ Publication, 26 March 2020; republished in The Hedge Fund Journal, May 2020
“UK Update: Guidance for FCA-Regulated Managers (COVID-19),” SRZ Alert, 18 March 2020
“Private Funds Guidance — Considerations During Volatile Markets for Hedge Funds and Credit, Direct Lending and Distressed Funds (COVID-19),” SRZ Publication, 16 March 2020
Alternative Funds Guide 2019 (Chambers) (General Editor)
Hedge Funds: Formation, Operation and Regulation (ALM Law Journal Press) (co-author); (Full Court Press), 2022 (co-author)
“MiFID II: Final FCA Rules Published,” SRZ Alert, 10 July 2017 (co-author); republished in The Hedge Fund Journal, July 2017
“The UK Criminal Finances Act 2017 — Failure to Prevent the Criminal Facilitation of Tax Evasion,” SRZ Alert, 27 June 2017 (co-author)
“Profile: Christopher Hilditch,” The Hedge Fund Journal, 31 March 2017
“Brexit: What Alternative Asset Managers Can Expect,” SRZ Alert, 13 July 2016 (co-author); republished in The Hedge Fund Journal, July/August 2016
“UK and European Regulatory Trends Update,” The Hedge Fund Journal, July/August 2016 (quoted)
“Reminder for UK Private Fund Managers: The AIFM Directive Takes Effect on 22 July 2013,” SRZ Alert, 9 July 2013 (co-author)
“Reminder for US and Other Non-EU Private Fund Managers: The AIFM Directive Takes Effect on 22 July 2013,” SRZ Alert, 8 July 2013 (co-author)
“US Private Fund Advisers Likely to Have Another Year to Comply with the AIFM Directive for Marketing in the UK,” SRZ Alert, 2 May 2013 (co-author)
“FSA Conflicts of Interest Safeguards: Immediate Action To Be Taken by All UK-Authorised Hedge Fund Managers,” SRZ Alert, 27 Nov. 2012 (co-author); republished in The Hedge Fund Journal, November/December 2012
“New ESMA Guidance on European Short Selling Rules — Effective 1 November 2012,” SRZ Alert, 18 Oct. 2012 (co-author)
“New European Rules on Short Selling — Effective 1 November 2012,” The Hedge Fund Journal, September/October 2012
“New European Rules on Short Selling — Effective 1 November 2012,” SRZ Alert, 5 Oct. 2012 (co-author)
“AIFM Directive — Publication of Final Text,” SRZ Alert, 5 July 2011 (co-author)
“Bribery Act 2010: Publication of Revised Guidance and Confirmed Implementation Date,” SRZ Alert, 11 April 2011 (co-author)
“Bribery Act 2010 Update: Delay to Implementation,” SRZ Alert, 1 Feb. 2011 (co-author)
“FSA Remuneration Code Update: Final Rules and Application to Hedge Fund Managers,” SRZ Alert, 21 Dec. 2010 (co-author)
“FSA Makes Amendments to Telephone Taping Rules,” SRZ Alert, 22 Nov. 2010 (co-author)
“New FSA Policy on Prime Brokerage Client Assets,” SRZ Alert, 9 Nov. 2010 (co-author)
“FSA Remuneration Code Update: Delayed Publication of Final Rules on Remuneration,” SRZ Alert, 3 Nov. 2010 (co-author)
“FSA Remuneration Code, EU Guidelines on Remuneration Policies and Proportionality,” SRZ Alert, 21 Oct. 2010 (co-author)
“Proposed New Pan-European Rules on Short Selling,” SRZ Alert, 21 Oct. 2010 (co-author)
“Bribery Act 2010: Update — Guidance on Adequate Procedures,” SRZ Alert, 20 Oct. 2010 (co-author)
“Bribery Act 2010,” The Hedge Fund Journal, September 2010 (co-author)
“FSA Proposes to Extend Its Remuneration Code to UK-based Hedge Fund Managers,” SRZ Alert, 18 Aug. 2010
“UK Regulatory Regime,” SRZ Client Memorandum, 13 Aug. 2010
“FSA Asserts New Financial Stability Information-Gathering Powers,” SRZ Alert, 5 Aug. 2010
“FSA Recasts and Revises UK Rules on Short Selling,” SRZ Alert, 5 Aug. 2010
“Hedge Funds: Some Key Considerations,” SRZ Client Memorandum, 5 Mar. 2010
“Conflicts of Interest: UK,” Investment Management: Law and Practice, January 2010 (co-author)
“Overview of Other Stock Exchanges,” ISI Capital Guide To Offshore Funds
“Hedge Funds – A European Perspective,” The Asset Growth Guide (co-author)
“The Move Onshore,” European Lawyer (co-author)
“US New Issues Rule,” Hedge Funds Review (co-author)
“Hedge Fund Structure – Some Key Considerations,” A Guide to European Hedge Funds (co-author)
“Hedge Funds – Some Key Legal Considerations,” European Union Banking & Finance News Network (co-author)
“Getting the Structure Right,” InvestHedge Special Report: How to Start a Fund of Hedge Funds (co-author)
“Getting the Structure Right for Managers and Investors,” ISI Capital Guide to Hedge Funds (co-author)
“Crossing the Pond,” European Fund Manager (co-author)
“Making it in Marketing,” Hedge Funds Review (co-author)
Various other articles and papers
Speaking Engagements
Moderator, “Traversing the ESG Terrain in the World of Alternative Strategies,” MFA Legal & Compliance London 2023, November 2023
“Structuring trends in a changing market,” Alternative Credit Council Global Summit 2023, October 2023
“Operational Issues,” SRZ London Investment Management Hot Topics, May 2023
“Fund Insights – Marketing, Strategies and Terms,” SRZ 32nd Annual Private Investment Funds Seminar, January 2023
“Private Credit Next Generation Managers,” AIMA Next Generation Manager Forum, March 2021
“A European Outlook,” SRZ 30th Annual Private Investment Funds Seminar, January 2021
“Recent US Executive Actions on Hong Kong and China — The Impact on Private Fund Managers,” SRZ Webinar, August 2020
“ESG,” SRZ 29th Annual Private Investment Funds Seminar, New York, January 2020
“Managing the Team (in Good Times and in Bad),” SRZ London Investment Management Hot Topics, June 2019
“Market Update: Terms, Customized Products and Co-Investment Vehicles,” SRZ 28th Annual Private Investment Funds Seminar, New York, January 2019
“Running a Global Investment Firm,” SRZ 27th Annual Private Investment Funds Seminar, New York, January 2018
“Political Risks,” SRZ London Investment Management Hot Topics, July 2018
“Managing the Increasing ESG Pressure From Allocators,” HFM European Operational Leaders and Legal Summit, London, September 2017
“Reporting and Record-Keeping,” MFA Trading Regulations and the Impact of MiFID II, New York, June 2017
“Self-Managed AIFM vs. Outsourced AIFM,” Global Fund Media Setting up an Alternative Investment Fund in Europe, London, May 2017
“Changing Environment for Distribution of Alternative Funds,” IBA 28th Annual Conference on the Globalisation of Investment Funds, New York, April 2017
“Introduction,” and Moderator, “A Market Perspective,” SRZ London Investment Management Hot Topics, March 2017
Maples and Calder Investment Funds Forum, Grand Cayman, Cayman Islands, February 2017
“Challenges Terminating Old Funds and Launching New Ones,” SRZ 26th Annual Private Investment Funds Seminar, New York, January 2017
“US Withholding on Deemed Dividends,” SRZ Webinar, December 2016
“Trade Errors — Who Is At Risk?,” Willis Towers Watson and HighWater Seminar, London, November 2016
“Brexit: A Regulatory Masterclass & Investors: Great Expectations,” HFMWeek European Operational Leaders & Hedge Fund Legal Summit, Hertfordshire, UK, September 2016
“Brexit: What it Means for UK Based Alternative Fund Managers, Fund Domiciles and the Future of AIFMD and Other EU Regulations,” IFI Global, London, June 2016
“Valuation Oversight & Fund Governance,” Voltaire Advisors Fund Valuation Under AIFMD Workshop, London, May 2016
“Co-Investments: Structure, Terms and Considerations,” SRZ London Investment Management Hot Topics, March 2016
“What Should You Ask Your Lawyer in 2016?,” Goldman Sachs Annual European Hedge Fund Leadership Conference, Paris, March 2016
“Assessing the Land — Recent Regulatory and International Policy Initiatives Impacting the Industry,” Jersey Finance Clear Direction Funds Conference, London, March 2016
“Evolving Terms and Considerations Across the Fund Spectrum,” SRZ 25th Annual Private Investment Funds Seminar, New York, January 2016
“AIFMD – Creating a New Distribution Landscape for US Managers,” KB Associates Global Fund Distribution — Solutions for 2016 and Beyond, New York, November 2015
“Investor Needs and Expectations,” SRZ London Investment Management Hot Topics, March 2015
“Marketing Challenges: US and EU Considerations,” SRZ 24th Annual Private Investment Funds Seminar, New York, January 2015
SRZ AIFMD and Other EU Regulatory Issues Roundtable, New York, December 2014
“Corporate Governance,” HFMWeek European Operational Leaders Summit, Hertfordshire, UK, September 2014
“How Should Alternative Funds Be Structured in the Light of New Regulation?” IBA 25th Annual Conference on Globalisations of Investment Funds, Paris, June 2014
Hedge Fund Business Forum, London, May 2014
“Fund Strategies and Structuring,” SRZ London Investment Management Hot Topics, March 2014
“Marketing Opportunities and Challenges,” SRZ 23rd Annual Private Investment Funds Seminar, New York, January 2014
“Legal: Getting It Right From the Start,” Bloomberg Hedge Fund Start-Up Conference, London, November 2013
“AIFM Directive Marketing Rules for US, EU and Non-EU AIFMs,” SRZ AIFM Directive Update: Requirements for Private Fund Managers Webinar Series, October 2013
“AIFMD Breakfast Briefing,” BNY Mellon Thought Leadership Series, London, September 2013
“Hedge Funders Guide to the Galaxy … Tracking the Future of the Hedge Fund Sector,” HFMWeek European Operational Leaders Summit, Bagshot, Surrey, September 2013
“Governance — What is ‘Good Governance’ and How is it Applied in Global Business?” and “Implications and Actions for Hedge Fund Businesses,” INSEAD, KPMG and ManagementPlus Corporate Governance in the Hedge Fund Industry, London, May 2013
“AIFMD for EU Private Fund Managers: Remuneration Rules,” SRZ AIFM Directive: Requirements for Private Fund Managers Webinar Series, April 2013
“Regulation: Rising to the Challenges of Transatlantic Oversight,” Absolute Return Spring Symposium, New York, March 2013
Moderator, “Compliance and Regulatory Examinations,” “Operational Issues,” “Current Tax Developments” and “Capital Raising in 2013,” SRZ London Investment Management Hot Topics, March 2013
“AIFMD for EU Private Fund Managers: General Requirements,” SRZ AIFM Directive: Requirements for Private Fund Managers Webinar Series, March 2013
“Current Terms: Hedge Funds,” IBA 14th Annual International Conference on Private Investment Funds, London, March 2013
“AIFMD for US Private Fund Managers,” SRZ AIFM Directive: Requirements for Private Fund Managers Webinar Series, March 2013
“Marketing in Europe: AIFM and Beyond,” SRZ 22nd Annual Private Investment Funds Seminar, New York, January 2013
“Starting a Hedge Fund? All You Need to Know,” Bloomberg Seminar, London, November 2012
“If I Only Knew Then What I Know Now … The Current Business Priorities of Hedge Fund COOs,” HFMWeek Operational Leaders Summit, Surrey, September 2012
“Markets: The IFC Perspective,” Jersey Finance Annual London Funds Conference, London, April 2012
“Starting a Hedge Fund? All You Need to Know,” Bloomberg Seminar, London, March 2012
Moderator, “Regulatory & Compliance Insights,” “Remuneration and Succession Planning,” and “Institutional Investors and Operational Issues,” SRZ London Investment Management Hot Topics, February 2012
“Legal and Regulatory Update,” Goldman Sachs European Hedge Fund Leadership Conference, London, February 2012
“Regulatory and Compliance,” SRZ 21st Annual Private Investment Funds Seminar, January 2012
Keynote Address and Opening Panel, The Lawyer Funds Summit, Genval, Belgium, November 2011
“Update on UK and US Insider Trading,” SRZ Webinar, November 2011
“Regulatory Landscape,” SEI Knowledge Partnership Annual FCO Forum for Alternative Managers, London, October 2011
“Dealing With the New Masters of the Universe: Consultants and Investors,” HFMWeek Operational Leaders Summit, West Sussex, September 2011
“The ‘Retailization’ of Alternative Strategies,” CounselWorks Business Trends Discussion, Montauk, June 2011
“US Regulatory Issues for Non-US Managers,” SRZ Audio Conference Series, April 2011
“Running a Multi-Jurisdictional Adviser,” SRZ 20th Annual Private Investment Funds Seminar, New York, January 2011
“Should I Stay or Should I Go? The AIFM Directive and Implications for the Domicile of Alternative Investment Funds and Managers,” Maples & Calder Client Event, London, December 2010
“Recent Developments of Hedge Fund Regulation from a Global Point of View,” ALFI European Alternative Investment Fund Conference, Luxembourg, November 2010
“Onshore/offshore,” KB Associates Client Seminar, London, November 2010
“Pan-European Short Selling Regime,” Citibank Client Conference Call, London, September 2010
“Legal Q&A,” HFMWeek Legal Summit, Sussex, UK, September 2010
“EU Directive,” Deutsche Bank’s 2010 Hedge Fund Regulatory Summit, June 2010
“AIFMD: Where are we now?” Citibank Client Conference Call, London, May 2010
“The EU Alternative Investment Fund Managers Directive: What Now?” SRZ Audio Conference Series, London, May 2010
“Accessing Complementary Distribution Channels for Alternative Investment Fund Managers Via UCITS,” Distribution of Alternative Funds Outside the United States, Carne Group/SRZ/Morgan Stanley Seminar, New York, March 2010
“Spotlight on Compliance: Key Issues for 2010,” SRZ 19th Annual Private Investment Funds Seminar, New York, January 2010
“Regulatory Environment, Fund Stimulus, Planning for 2010,” Bank of America Merrill Lynch Hedge Fund Leaders Conference, December 2009
“The Future of Offshore Funds,” Absolute Return Symposium, New York, November 2009
“Comparing U.S. and U.K. Regulatory," FINRA US Securities Regulation Course, London, October 2009
“Regulation by Disclosure or Substantive Requirement,” InvestoRegulation Hedge Fund Regulation, September 2009
Panelist, Dillion Eustace Financial Regulation, June 2009
Panelist, UBS Global Hedge Fund Conference Europe, June 2009
Panelist, “The Ongoing Challenges of a COO: Changing Regulatory Environment, Safety of Assets etc.,” Merrill Lynch Prime Brokerage 2009 Hedge Fund COO/CFO Conference, May 2009
Moderator, “Weathering the Storm: Current Issues for Hedge Funds,” IBA/NICSA 20th Annual Conference on Globalisation of Investment Funds, May 2009
“What Managers Need to Know About the New European Directive,” SRZ Audio Conference Series, May 2009
“Publicly-Offered Hedge Funds in Europe — New Possibilities for UCITS Products,” SRZ Audio Conference Series, March 2009
“Spotlight on Compliance: Key Issues for 2009,” SRZ 18th Annual Private Investment Funds Seminar, New York, January 2009
“Liquidity Issues,” Merrill Lynch Hedge Fund Discussion, November 2008
UBS COO/CFO Conference, October 2008
Chair, “Business Optimisation” strategy board session, GAIM International 2008 Conference, Monaco, June 2008
“Hedge Fund Standards Board — Practical Steps,” AIMA UK Hedge Fund Manager CEO Forum, June 2008
Maples Investment Fund Forum, Grand Cayman, February 2008
“Spotlight on Compliance: Key Issues for 2008,” SRZ 17th Annual Private Investment Funds Seminar, New York, January 2008
“Hot Issues,” AIMA Second Annual CFO/COO Forum, June 2007
New GAIM 2007, June 2007
“Side Pockets — When and Where Are They Appropriate?” EuroHedge Symposium, April 2007
SRZ 16th Annual Private Investment Funds Seminar, New York, January 2007
Moderator, “Current Regulatory Landscape for Hedge Funds Operating Internationally,” MFA 2nd Annual International Hedge Fund Symposium, October 2006
“Regulatory Update,” AIMA Seminar, October 2006
“Jersey — The European Alternative,” Jersey Finance and Jersey Funds Association Alternative Funds Debate, October 2006
“FSA and Side Letters,” 5th Annual Hedge Fund Seminar, October 2006
“The New Law on Sophisticated Investor Funds,” ALFI & AIMA Hedge Fund Conference, September 2006
“Off-Shore Hedge Funds,” SEC Office of Compliance Inspections and Examinations, August 2006
“Examining The Latest Regulation Issues Affecting Product Development & Distribution: Where Do The New Opportunities & Challenges Lie?” GAIM, July 2006
“Transatlantic Planning Issues,” SRZ 15th Annual Private Investment Funds Seminar, January 2006
Chair, “Seventh Annual European Hedge Fund Regulation Conference,” December 2005
“So You Thought Hedge Funds Were a Passing Fad?” Jersey Funds Association, November 2005
“Current Issues in Hedge Funds,” SS&C Hedge Fund Symposium, November 2005
“Hedge Funds Coming to London — Structural Issues,” Citigroup Seminar, November 2005
“The Impact of the Changing Hedge Fund Regulatory Environment,” Superior Hedge Fund Administration, October 2005
“Hedge Funds in Private Equity Space,” SRZ International 4th Annual Hedge Funds Seminar, London, October 2005
Jersey Hedge Funds Debate, September 2005
“Hedge Fund Regulatory Developments and Issues for Dual Registrants,” MFA Inaugural London Hedge Fund Symposium, July 2005
“The Changing Possibilities of the Pan-European Fund,” GAIM, June 2005
SRZ 14th Annual Private Investment Funds Seminar, New York, January 2005
“Legal and Regulatory Developments in Europe — Benefit or Burden?” European Hedge Fund Regulation, December 2004
“Regulations in the UK and US: Regulatory Roundtable,” Second Annual Italian Hedge Fund Investors’ Summit, September 2004
“Developments in Europe: Benefit or Burden?” GAIM, June 2004
“European Hedge Funds: Current Legal Issues,” Hedge Funds for Pension Funds Amsterdam, April 2004
SRZ 13th Annual Private Investment Funds Seminar, New York, January 2004
“Assessing the Latest European Regulatory Developments Impacting upon Hedge Funds,” European Hedge Fund Regulation, December 2003
“Recent Regulatory Developments and Impact Industry Wide,” Eighth Annual Monaco Symposium on High-Performance Investing, October 2003
“Hedge Funds Regulations Across Europe — UK,” Fourth Annual Pan-European Hedge Funds Summit, October 2003
“USA Developments,” Alternative Investments Seminar, October 2003
“The Legal and Regulatory Challenges of Locating Hedge Funds,” The Law and Regulation of Hedge Funds, July 2003
“Retaining Hedge Fund Talent,” GAIM, June 2003
“Cross Atlantic Practices in International Asset Management,” GCCA Seminar, April 2003
“Trends and Developments in the Regulatory Arena, a European Perspective,” The 4th Annual International Conference on Private Investment Funds, February 2003
SRZ 12th Annual Private Investment Funds Seminar, New York, January 2003
“The Phenomenal Growth in European Hedge Funds — the Need for Regulatory Vigilance — Necessary and Desirable?,” European Hedge Fund Regulation, December 2002
“Structuring and Operating a Fund of Funds — A Transatlantic Lawyers’ Perspective,” GAIM Fund of Funds Forum, November 2002
“The Legal and Regulatory Challenges of Locating Hedge Funds in Key Jurisdictions — Cayman Islands,” The Law and Regulation of Hedge Funds, May 2002
“Investigating Some Key Considerations in Establishing a Hedge Fund,” Hedge Fund Services Summit, March 2002
“Hedge Funds in the Cayman Islands,” The Law and Regulation of Hedge Funds — In the UK and Overseas, December 2001
“The Administration of Hedge Funds — A Legal Perspective,” European Hedge Funds 2nd Annual Conference, 2001
Numerous other conferences/seminars on subjects including hedge funds, money laundering, financial services regulation on the Internet and European Monetary Union
Memberships
- Law Society
- City of London Solicitors Company
- International Bar Association
Distinctions
- The Hedge Fund Journal Award for Outstanding Contribution
- Named as a leading hedge fund lawyer in:
- Best Lawyers
-
Chambers UK
- Chambers Europe
- The Legal 500 UK
- Expert Guide to the Best of the Best (Investment Funds)
- Expert Guide to the World’s Leading Banking, Finance and Transactional Law Lawyers (Investment Funds)
- IFLR1000
- PLC Cross-border Investment Funds Handbook
- Who’s Who Legal: The International Who’s Who of Private Funds Lawyers
Prior Experience
- Maples and Calder
- Simmons & Simmons, London and Hong Kong
