Day Pitney Represents Complexitas Fund Management LLC in Launch of Quantitative Long/Short Equity Hedge Fund

Day Pitney represented Complexitas Fund Management LLC, a Fairfield, Connecticut-based quantitative hedge fund manager ("Complexitas"), in connection with the launch of Complexitas US Max Return Fund LP (the "Fund"), a Delaware limited partnership structured as a standalone investment vehicle.

The Fund pursues a proprietary quantitative investment strategy developed within a complexity science framework. The strategy is implemented through computer-based algorithms designed to identify investment opportunities and execute trades among the 1,000 largest publicly traded U.S. equities, with the objective of constructing and maintaining a net-equity-neutral long/short portfolio intended to generate positive alpha with low correlation to broad equity market indices. 

A central structural feature of the Fund is a two-class offering structure consisting of "Founders Class Interests" and "Class A Interests." Founders Class Interests are offered only during a defined "Founders Period," and provide early-stage investors with materially reduced economics and a lower minimum capital commitment of $100,000 (as compared with $1,000,000 for Class A Interests). 

Day Pitney advised Complexitas on the preparation of the Fund's full suite of offering and governing documents and related ancillary documents. Day Pitney also advised Complexitas on certain intellectual property, tax and regulatory compliance matters.

The Day Pitney team was led by partner Peter Bilfield, co-chair of the firm's Investment Management and Private Funds group, and included senior associate Gessi Giarratana and associate Lindsay Kaighin. U.S. tax advice was provided by partner Amy Drais and associate Chris Mullen.