Asset Management Partner Laurel FitzPatrick Weighs Hedge Fund Eligibility for CARES Act Loans in FundFire

An April 22 FundFire article titled “Hedge Funds Eye Gov't Loans But Face Reputation, 'Moral' Risks” discusses considerations for hedge funds applying for loans in the first wave of CARES Act funding. The piece outlines that while many of the largest hedge funds would not have qualified for the program, others satisfying certain conditions can apply for small business administration (SBA) loans through the law’s paycheck protection program (PPP). “The applicant has to certify that current economic uncertainty makes the loan request necessary to support ongoing operations,” said asset management partner and hedge funds team leader Laurel FitzPatrick in the article.