Jacob Levy

Had a great time hosting a roundtable at the Middle East Investor Network last week. The main theme of the day was the importance of a solid operating model and good governance, and being able to show investors that a fund manager is running a resilient business, not just a set of positions. One thing that really stuck with me and felt oddly satisfying, is something I’ve been banging on about for the best part of a decade: investing is often not the most important thing for fund managers. I’m very aware that saying that usually causes people to back away slowly, wondering if I’ve lost the plot. But hearing allocators articulate the same point was a good reminder that the message is finally landing. Performance matters...obviously. But the operating model is what determines whether a fund manager lasts long enough for performance to matter. Which brings me neatly to something we’ve just launched at East Emblem We’ve formally opened applications for FM101 (Fund Manager 101) East Emblem’s new flagship program for fund managers. FM101 is a five week institutional incubator designed around one thing: tangible outputs. No fluff. No jargon. Real documents. Real structures. Real outcomes. Managers spend the program building, not listening. with a lot of one-to-one time, small groups by design, and a very practical focus on creating a live, investor-ready operating platform. A big part of the program fee is also very deliberately practical. It covers the heavy lifting that most fund managers dread and often underestimate... the creation of a regulated investment manager entity in the BVI and a Cayman fund, or for existing managers looking to gain exposure to MENA with, a Cat 4 licence in ADGM/DIFC We work with phenomenal, authorised on the ground partners for all structuring and regulatory work and we coordinate the process end-to-end. The goal is simple: take the headache of structuring and setup away, so managers can focus on actually investing and fundraising. FM101 exists because most new (and plenty of existing) fund managers don’t fail because they’re bad investors, they fail because they don’t know what they don’t know. And allocators, understandably, don’t have the time or inclination to teach them. FM101 pulls back the curtain. It explains not just how institutions expect things to be built, but why and where operating models tend to break when governance is treated as an afterthought. If you’re a fund manager thinking seriously about building an institutional platform or if you know any budding or newer fund managers who might benefit please feel free to share. Applications are open here and on the East Emblem website: https://tally.so/r/zxNeWE And there’s more detail on the East Emblem website if useful. East Emblem Louis Ravenscroft Craig Martin Adrian Beattie

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