Even when a private fund manager is exempt from registration under the Investment Advisers Act of 1940, it must still make a determination whether it is also exempt under state investment adviser regulation. This article surveys the regulations in 8 states located in the Midwestern United States dealing with investment adviser registration of managers of hedge funds, private equity funds, venture capital funds, and other private investment vehicles. States covered are: Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, and Wisconsin.
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State Investment Adviser Registration Requirements for Private Fund Managers Part 3: The Midwest