The possibility of Britain’s electorate voting in a widely heralded June 23 referendum to leave the European Union – an eventuality popularly known as the “Brexit” – and the creation of the Luxembourg Reserved Alternative Investment Fund pose special challenges and opportunities for U.S. hedge fund managers marketing their products in the U.K. and Europe. One session of the Dechert Global Alternative Funds Symposium, held in New York on April 6, provided practical insight to help hedge fund managers understand, adapt to and take advantage of these changes and opportunities, including with respect to the marketing passport under the Alternative Investment Fund Managers Directive and the growing popularity of loan origination funds in Europe. Moderated by Boston-based Dechert partner Adrienne Baker, the panel featured London-based partners Richard Heffner and Stuart Martin; Luxembourg-based partner Antonios Nezeritis; and Munich-based partner Hans Stamm. For coverage of last year’s Symposium, see “Trends in Hedge Fund Expense Allocations, Fees, Redemptions and Gates” (May 21, 2015); and “Liquid Alternative Funds and Fund Governance Trends” (Jun. 25, 2015).