Hedge Fund

Generally, an “open-ended” investment vehicle that employs sophisticated investment strategies such as leveraged, long, short and/or derivative positions with the goal or achieving high returns in the public markets (e.g., equity stocks, bonds, commodities, currencies, derivatives, etc). The term Hedge Fund may either refer to a single legal entity (i.e., in the case of a “stand-alone” fund structure), or may refer to an entire platform of affiliated funds pursuing a single investment strategy, as in the case of Master-Feeder fund structure.