Increasingly, fund managers are choosing to require disputes – whether involving members of a fund’s management firm complex or a fund’s investors – to be resolved through arbitration. Although an arbitration provision may be a relatively brief part of a private fund’s constituent documents, care should be taken to ensure it serves the interests of those who may use it. A well-thought-out, carefully crafted arbitration provision will provide the benefits a manager seeks without unpleasant surprises in terms of cost, process or outcome. In a guest article, Anne E. Beaumont, partner at Friedman Kaplan Seiler & Adelman, explains the basics of arbitration, in addition to exploring key factors to be considered when deciding whether to designate arbitration as a mechanism for resolving disputes and crafting an arbitration provision. For more from Beaumont, see “Making the Most of a Contractual Advice‑of‑Counsel Defense” (Apr. 12, 2022).