Fund managers looking at capital-raising opportunities in the Middle East must develop a nuanced understanding of the many ways regulations in the region differ from those with which the managers may be familiar. While Saudi Arabia, Kuwait, Qatar and Bahrain are brimming with investable assets, managers must understand the importance of Sharia-compliant structures for many family offices in the region. The European alternative investment space may be more familiar to some managers, but regulatory developments there are also affecting funds and the way they do business. Nevertheless, some vehicles, such as Undertakings for Collective Investments in Transferable Securities structures, enjoy enduring popularity. In Europe as in the Middle East, it is essential for fund managers to come to the table armed with knowledge. All these points came across in a panel discussion at the tenth annual Advanced Topics in Hedge Fund Practices Conference: Manager and Investor Perspectives recently hosted by Morgan Lewis and featuring partners Ayman Khaleq and William Yonge. This article presents the key takeaways from the panel discussion. For coverage of another session of the conference, see “Investor Pressure Drives New Performance Compensation Models and Increased Disclosure Obligations for Managers” (Jun. 29, 2017). For coverage of former SEC Chair Christopher Cox’s keynote talk at the conference, see “Hedge Funds’ Image Crisis: Fighting Public Perceptions Against the Backdrop of Potential Financial Sector Reforms” (Jun. 22, 2017).