[1][2] The SBAI originated in June 2007, when a group of leading alternative investment managers formed the Hedge Fund Working Group to develop industry standards in areas such as disclosure, valuation, risk management, governance, and shareholder conduct.
[1] Founding firms included Marshall Wace, Cheyne Capital Management, Man Group, and CQS.
[2] In January 2008, the working group was established as a nonprofit, called the Hedge Fund Standards Board (HFSB).
At its inception, the board had 14 leading hedge fund managers and was chaired by Sir Andrew Large to develop the standards.
[5] In July 2011, Dame Amelia Fawcett was appointed Chair of the SBAI, replacing Andrew Large.