That constraint may enable the manager to stop or limit redemptions, says David Efron of Schulte Roth &Zabel, a law firm with many hedge-fund clients.

• 这一约束可能使管理人能够暂停或者限制赎回的股份，扎贝尔律师事务所（一家拥有那批对冲基金客户的律师事务所）的大卫艾芙隆说道。