The people who have the architecture I use, it's designed to be leased to run a hedge fund from the ground up which is something formation cannot help you with, they have websites and also formation but they usually just pass you off to their providers as a referral, it's simpler unless you need consultant help to make decisions.
I've been working with a regulated hedge fund and cost them $50k just for lawyer formation, nothing else, you have BVI, Bahamas, Cayman, Delaware, Europe, Middle East, some of these are $20k but you need to know who to go to and it needs to be off-shelf not bespoke, something most providers will fight you due to less fees.
The one primary factor no one takes in to account is Fund Manager protection processes from rogue investors, who are increasing each day and becoming more vicious in the process, very few hedge funds have this and regulators are making life miserable for those that don't have it, namely keeping pace with the S&P and redemption processing.
It's the reason the regulated fund I've worked with since 2021 is still not live, the fund managers did not want the protection processes in place as it made marketing the fund more difficult, but without them they will absorb the liabilities due to what they are trying to achieve, so it's a waiting game for them to understand the importance of these protection processes.