Conditions of Membership

Full membership of COOConnect is open only to Chief Operating Officers (COOs), Chief Financial Officers (CFOs), Chief Compliance Officers (CCOs), and heads of Operational Due Diligence (ODD) at fund management companies managing alternative investment strategies or a combination of alternative and traditional investment strategies and funds of fund companies invested in the same or similar combinations of strategies. Membership of COO Connect is free to any individual which can be authenticated as falling into at least one of these categories.

Membership of COOConnect entitles members to unlimited use of the following facilities provided by the organization:

- The COOConnect secure communication platform, including its secure e-mail, instant messaging, document storage and management tools, survey, interest group management and other tools

- The databases of RFP-derived data on service providers (prime brokers and fund administrators) and IT vendors

- Attendance at all meetings, seminars, roundtables, webinars and other events hosted by COOConnect, whether sponsored or unsponsored

- Access to panels of experts, which have agreed to answer queries posted by members of COOConnect

- Access to all service providers, vendors and consultants which have agreed to distribute their services through COOConnect

- Access to directories of accountants, agent lenders, consultants, custodians, data vendors, fund administrators, insurers, IT vendors, lawyers, prime brokers, public relations consultants, recruitment consultants

- Access to best practice databases and their associated search, comparison and implementation tools

- Access to the survey-based research services supplied by COOConnect management and staff, including the construction and distribution of questionnaires, and the management of the data collection and reporting process.

It is a condition of membership that any member be willing to be approached by any other member, though both the member making the approach and the respondent can choose whether or not to disclose their identity. All communications will be authenticated by COOConnect as originating from accredited members of COOConnect, so members can always be confident that every message they receive through the network is a genuine one.

It is a further condition of membership that members be willing to answer questionnaires circulated by Gold and Platinum sponsors of membership of the site.

Though it is not a condition of membership, members will also be invited periodically by the COOConnect management and staff to contribute their knowledge and experience to the enrichment of the data and services provided by the organization. In particular, input will be solicited in the following areas:

- Financing costs, including margin financing, stock borrowing, foreign exchange and cash, with a view to the construction and publication of benchmark rates

- Verification of service claims made by prime brokers, fund administrators and IT vendors in the RFP-derived databases of service capabilities

- Implementation of operational best practices as identified in the best practice databases and their associated tools

Members of COOConnect will not be under any formal obligation to participate in any of these research exercises. However, the value of COOConnect to its members ultimately depends on the commitment and enthusiasm of its members. Every COO who joins COOConnect is committing himself or herself to make some contribution towards increasing its value and its usefulness to their peers.

That contribution will in some cases be a large one but in others – probably most – it will be small. Or at least small in relation to the benefits that will accrue from creating a group in which COOs swap information and insights with their peers, and use their collective muscle as well as their collective wisdom and experience to get better terms and improved results for themselves, their firms and their investors

Membership of COOConnect is not open to service providers and vendors, such as prime brokers, fund administrators, technology companies, data vendors, consultants, law firms, accountants, insurance companies, recruitment consultants, or other third parties interested in selling products and services to fund management companies. These entities are, however, welcome to sponsor membership of COOConnect by COOs, CFOS, CCOs and heads of operational due diligence, in return for certain branding rights and limited and controlled access to members of COOConnect. They are also welcome to establish sell-side forums, which COOConnect will bring to the attention of its members and support from an operational perspective, but which only members can elect to join.