Administration Agreement
(Offshore Hedge Fund) (Cayman Islands)

Summary

An offshore hedge fund will customarily appoint an administrator to receive subscriptions from and pay redemptions to investors, to record share issuances, transfers and cancellations on the fund's books and records, to keep the fund's books and records (in particular those required to calculate the fund’s net asset value), to calculate the net asset value, and to distribute net asset value statements and other regular reports to the fund’s shareholders. The administration agreement governs this arrangement between an offshore hedge fund and its administrator, setting forth the rights and obligations of the parties, and detailing the administrator’s activities. This agreement assumes that the hedge fund has been organized in the Cayman Islands. This template includes practical guidance and drafting notes. For additional hedge fund formation resources, see: • Hedge Fund and Its Offering: Drafting and Reviewing the Key Documentation • Articles of Association (Offshore Hedge Fund) (Cayman Islands) • Custody Agreement (Hedge Fund) (Custodian) • Investment Management Agreement (Offshore Hedge Fund) • Memorandum of Association (Offshore Hedge Fund) (Cayman Islands) • Hedge Funds Structure and Organization