Alternative/hedge funds in United States

Fried, Frank, Harris, Shriver & Jacobson LLP

Fried, Frank, Harris, Shriver & Jacobson LLP’s team capabilities a wide range of matters including traditional acquisitions of asset management companies, investments in hedge fund management companies, seed, stake, incubation transactions, and fund and investment platform restructurings. Team founder Lawrence Barshay, leads the practice, with a wealth of experience in representing and advising the most high-profile players in this space, on matters concerning   private equity transactions and mergers and acquisitions Jonathan Adler focuses his practice on complex transactions involving alternative investment vehicles, including hedge funds, real estate funds, private equity funds and hybrid funds while Jason Koenig represents asset managers on the formation, fundraising and management of funds across a wide range of strategies, including private equity funds, growth equity funds, multi-manager hedge funds, managed credit funds and tactical opportunities funds. All lawyers are based in New York unless stated otherwise.

Responsables de la pratique:

Lawrence Barshay


Autres avocats clés:

Jonathan Adler; Jason Koenig; David Mitchell; Menachem Farber


Les références

‘Fried Frank’s US alternative/hedge funds is one of the leading practices in the United States. They know the law, they really understand market conditions and are excellent communicators. Their willingness to drop everything and work on our time-sensitive projects is an incredible value and differentiator. Their high-quality execution and work product ensures our deals and business are successful.’

‘Great knowledge and capability in the fund space.’

‘We work with several individuals – primarily David Mitchell and Menachem Farber. The breadth of the practice is extremely helpful to us. ’

Principaux clients

Bain Capital


BlackRock


Brookfield Asset Management


D.E. Shaw & Co.


EJF Capital


Fortress Investment Group


Goldman Sachs


Gresham Investment Management


Helix Partners


J.P. Morgan


Millennium Partners


Morgan Stanley


Neuberger Berman


ORIX Corporation USA


PDT Partners


Point72 Asset Management


Tavistock Group


Third Point LLC


Tiger Global


Tudor Investment Corporation


Principaux dossiers


Paul, Weiss, Rifkind, Wharton & Garrison LLP

The team at Paul, Weiss, Rifkind, Wharton & Garrison LLP acts as trusted advisers to institutional and independent hedge fund managers, displaying strong capabilities across private equity, credit and hedge funds. The team is led by Udi Grofman, Marco Masotti, Brian Kim, Claudine Meredith-Goujon, Steven Williams, and Scott Barshay. Grofman’s extensive practice covers fund formation across hedge funds, credit funds, hybrid funds, private equity funds, as well as crisis management entailing internal investigations, regulatory examinations, investigations and litigation, while Masotti advises on a vast array of funds to some of the biggest names within the fund space. Kim focuses his practice on acquisition financing, distressed debt and other financing transactions, that assist overleveraged companies in restructuring their finances and Meredith-Goujon specializes in intellectual property transactions assisting public companies and private equity firms  leverage their IP assets. With vast experience in public company private equity transactions, Williams advises clients on auctions, joint ventures, carve-outs, and spin-outs while Barshay is well-regarded for his work on M&A transactions.

Responsables de la pratique:

Udi Grofman; Marco Masotti; Brian Kim; Claudine Meredith-Goujon; Steven Williams; Scott Barshay


Principaux dossiers


Ropes & Gray LLP

Renowned for its cross-border capabilities, the team Ropes & Gray LLP provide clients with full-service capabilities with regard to fund formation, operational and regulatory matters. With recent developments within the tech sector, the team has adapted its practice to include advice on matters related to cryptocurrency, insider trading issues around alternative data sources, and novel operational issues. The team is co-led by San Francisco and Silicone Valley based Melissa Bender and New York’s Marc Biamonte. Bender’s practice concerns private credit and debt, with particular experience in raising closed-end, open-end, hybrid and evergreen funds while Biamonte assists general partners with fundraising across a diverse range of fund types, including buyout, venture, hedge, and special focus funds. Leigh Fraser , sitting across Boston and New York, has extensive experience assisting with the formation of onshore and offshore open-end and closed-end private funds advises such entities on an ongoing basis with regulatory matters and the structuring of new investment products. Based in New York, Laurel FitzPatrick advises on credit fund formations across an impressive range of fund types including evergreen, treaty and rated notes structures, as well as traditional closed end credit funds while Sarah Davidoff , who is also based in New York, is well regarded with the alternative asset management space, guiding clients on aspects of raising and operating their buyout, credit, growth equity and venture capital funds. Laura Hirst is also a key contact in Boston, offering guidance across a variety of private investment funds and investment strategies.

Responsables de la pratique:

Melissa Bender; Marc Biamonte


Autres avocats clés:

Leigh Fraser; Laurel FitzPatrick; Sarah Davidoff; Laura Hirst


Principaux dossiers


Sidley Austin LLP

The team at Sidley Austin LLP regularly advises both start-up managers and large institutional advisers on all aspects of structuring and other formation issues. Boston based practice head Elizabeth Shea Fries advises a diverse range of clients including, investment managers, broker-dealers, and insurance companies on a broad range of transactions concerning business and investment structures, as well as the regulatory aspects of such transactions. Daniel Spies is based out of New York and advises both start-up level and institutional-level asset management firms on the formation and operation of hedge funds, digital assets funds, private equity funds; as well as hybrid funds. Based out of Chicago, Janelle Ibeling handles a range of alternative investment products, including domestic and offshore hedge funds, funds of funds and ‘access funds’.

Responsables de la pratique:

Elizabeth Shea Fries


Autres avocats clés:

Daniel Spies; Janelle Ibeling


Les références

‘Great team, with differentiated specialists, offering a coordinated approach to business issues.’

‘They have a strong understanding of the current legal and regulatory issues facing hedge funds and they take the time to understand how we run our business and how these issues will impact us specifically.’

‘Daniel Spies has become an invaluable partner to our firm. He deal with matters both pragmatically and efficiently. ’

Principaux clients

Aegeri Capital


Bridgewater Associates


Capstone Investment Advisers


Crestline Management


ExodusPoint Capital Management


Global Endowment Management


HighVista


Kawa Capital Management


Magnetar Capital


Marathon Asset Management


Polar Asset Management Partners


PRIM


Rose Grove Capital Management


Sequoia Capital Global Equities


Solel Partners


Totem Macro Asset Management


Verition Fund Management


WhiteHawk Capital Partners


Principaux dossiers


  • Advising Magnetar Capital on the launch of its private equity funds focusing on structured solutions transactions with financial institutions to manage their regulatory capital consumption and other regulatory and reporting metrics.
  • Representing Sequoia Capital Global Equities on a range of matters, including in connection with various portfolio matters.
  • Represented Totem Macro Asset Management on the formation of management companies and initial private funds focusing on global macro investing in both developed and emerging markets.

Akin

New York’s Barbara Niederkofler leads the alternative hedge funds team at Akin, bringing a global perspective to regulatory work in this space, and aiding non-US funds through complex legislation concerning fund formation.  Representing both domestic and offshore hedge fund managers, JP Bruynes is regularly sought after not only for his comprehensive expertise pertaining to structuring, negotiation, and documentation, but also thanks to his technical and regulatory know how of quantitative trading strategies. Ann E. Tadajweski’s practice focuses on advising both long-standing and emerging investment managers on the structuring, launch, and capital raising activities of alternative investment funds. All lawyers are based in New York.

Responsables de la pratique:

Barbara Niederkofler


Autres avocats clés:

JP Bruynes; Ann Tadajweski


Principaux dossiers


Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP’s hedge fund practice represent all types of domestic and offshore hedge funds, across a broad range of investment and financing strategies, including crossover, hybrid, master-feeder funds, and permanent capital vehicles. The team is co-led by New York-based hedge funds expert Jedd Wider , who is well regarded for his vast experience with domestic and  international private investment funds and Stephen Tirrell , who co-leads the team from Boston, and has considerable knowledge with regards to fund structure, securities laws, and jurisdictional planning. Located in Boston, Richard Goldman advises on a broad range of issues, including fund formation and product structuring, giving strategic advice to both emerging and longstanding funds. Based out of Miami, Ethan Johnson , adds to the firm’s international operations guidance to investment managers.

Responsables de la pratique:

Jedd Wider; Stephen Tirrell


Autres avocats clés:

Richard Goldman; Ethan Johnson


Les références

‘One of their unique characteristics which truly separates them from almost any other major law firm is their incredible strength of practice representing many of the world’s largest hedge and alternative fund managers as well as emerging fund managers.’

‘Jedd Wider is the clear go-to partner at Morgan Lewis and within the Alternative/hedge fund industry. His hedge fund industry knowledge and experience puts him at the very top of the most elite fund attorneys worldwide.’

Principaux clients

AQR Capital Management


GreensLedge


Innocap Investment Management


Tenaron Capital Management


Capula Investment Management


Credit Suisse (UBS)


Goldman Sachs


Morgan Stanley


DG Capital Management


Alphemy Capital S.A


Principaux dossiers


  • Assisted MIRI on a take private transaction for its hedge fund, including launching a new fund for new capital.

Proskauer Rose LLP

Assisting asset mangers across US, Europe and Asia, the team at Proskauer Rose LLP is jointly led by Christopher Wells and Kelli Moll. Moll’s practice focuses on assisting investment advisors on the formation and maintenance of a variety of funds including hedge funds, credit funds and cross-over funds, while Wells navigates hedge fund managers through a variety of challenging situations they may encounter such as new fund launches, complex fund restructurings, liquidity constraints, and enforcement matters. Jennifer Dunn advises on the structuring and negotiating seed and strategic investments, sales of investment manager platforms, and compensation arrangements, Caryn Greenspan has focused her practice primarily on hedge funds and credit funds, in both open and closed end spaces, as well as evergreen funds.

Responsables de la pratique:

Kelli Moll; Christopher Wells


Autres avocats clés:

Jennifer Dunn; Caryn Greenspan


Les références

‘Able to work cross sector and pull expertise from different teams.’

‘Chris Wells and Jenny Dunn – exceptional in their responsiveness, critical thinking, technical drafting but most importantly being solution driven for clients.’

‘Chris Wells has decades of experience in the hedge fund industry, and has quite literally seen it all. His realistic approach to legal and compliance questions differentiates his advice and counsel.’

Principaux clients

Appaloosa Management


Ares Management


Deerfield Management


Pinebridge Investments LLC


Alpine Associates


Ellington Management Group


Graham Capital Management


Engle Capital Management


Greenlight Capital


Stonehill Capital Management


Principaux dossiers


  • Advised Pagaya Technologies LTD. in its agreement to acquire 100% of Theorem Technology, Inc, an institutional asset manager focused exclusively on the consumer credit space.
  • Advised Saluda Grade in its acquisition of a minority stake in Hillcrest Finance.
  • Advised JANA Partners on its strategic partnership with Cannae Holdings, Inc.

Davis Polk & Wardwell LLP

Employing a multidisciplinary approach to help clients with novel investment strategies involving cryptocurrency, Davis Polk & Wardwell LLP advises sophisticated funds and managers ion a full range of fund formation issues including structuring, seeding, credit arrangements and compensation. Leor Landa and Gregory Rowland jointly head the team, with Landa advising on the formation and operation of private investment funds, including hedge funds, credit funds, secondary funds, and real estate funds while Rowland assists funds in connection with a variety of issues concerning digital currency and blockchain matters, including digital currency fund formation. Benjamin Milder regularly represents institutional investors in connection with their investments in hedge funds while also representing buyers, sellers and sponsors in a range of secondary transactions. All listed lawyers are based in New York.

Responsables de la pratique:

Leor Landa; Gregory Rowland


Autres avocats clés:

Benjamin Milder


Principaux clients

Alphadyne Asset Management


Barclays Capital


Baron Capital


BlockFi


Block.One


Bridgewater


Capital International


Chilton Investment Company


Corbin Capital


Cowen Investment


Credit Suisse


Ellington


FalconX


Fidelity


Galaxy Capital Management


Graticule Asset Management Asia


Grayscale


Hashdex


Highbridge


Hitchwood Capital


Hudson River Trading


Hudson Bay Capital


Inter Ikea


J.H. Whitney Data Services


Kingdon Capital


Lone Pine


Magnetar Capital


Matrix Finance and Technology


Meritage Group


Morgan Stanley


Morgan Stanley Wealth Management (Formerly Morgan Stanley Smith Barney)


Mudrick Capital


Napier Park


Oaktree Capital


Passport Capital


PDT Partners


Perella Weinberg Partners


PointState Capital


Principal Strategies Group


Ramius


Saba Capital


Silver Spike Holdings


SPF Investment Management


Skybridge Capital


Temasek Holdings


Varagon


York Capital Management


Principaux dossiers


Katten

Specializing in advising quantitative firms, the hedge fund practice at Katten is led by global chair Lance Zinman from the Chicago office as well as Wendy Cohen and Allison Yacker from New York office. Zinman has significant experience representing quantitative asset managers and proprietary trading firms that deploy volatility, algorithmic, low-latency and other quantitative trading strategies, while Cohen has vast domestic and international knowledge of  securities, futures and cryptocurrencies. Yacker is frequently sought after by a variety of funds to assist on a variety of strategic issues such as quantitative trading, private credit, and distressed debt. Based in New York, Henry Bregstein  specializes in advising on insurance dedicated alternative investment funds and privately placed life insurance and annuities providing guidance on fund formation and regulatory compliance in this space.

Responsables de la pratique:

Lance A. Zinman; Wendy Cohen; Allison Yacker


Autres avocats clés:

Henry Bregstein; Jonah Roth


Les références

‘The deep industry knowledge and experience of the practice is a significant advantage when structuring and negotiating a transaction. Along with their expertise, the team consistently demonstrated seamless, real-time engagement and provided strategic, pragmatic solutions tailored to our unique situation.’

‘Lance Zinman was an invaluable resource for both the legal and business aspects of our transaction. His extensive experience in the industry was evidenced throughout the course of negotiations, including several instances where he devised unique solutions to overcome unexpected business obstacles. Both he and his team were immediately responsive to time-sensitive needs and produced work product of the highest quality. Jonah Roth added significant value to the project, demonstrating meticulous attention to detail in deliverables, and coordinating with both Lance and other areas of the firm.’

Principaux clients

Brown Brothers Harriman & Co.


Pan Capital Management


Sumo Capital / Sumo Investment Management LLC


US Innovative Technology


Walleye Capital


Fiera Capital Corporation


PineBridge Investments


Antares Capital


JP Morgan Investment Management


Principaux dossiers


  • Acting as counsel to Fiera Capital Corporation with respect to many of its hedge funds.
  • Acting as counsel to PineBridge Investments with respect to many of its hedge funds.
  • Representing Brown Brothers Harriman & Co. on a wide variety of matters related to private funds, including hedge funds, open-end funds, hybrid funds and closed-end funds.

Kleinberg, Kaplan, Wolff & Cohen, P.C.

The team at Kleinberg, Kaplan, Wolff & Cohen, P.C. provides a comprehensive advisory service in relation to domestic and offshore funds and fund-of-funds, assisting managers from the funds creation to the lifecycle of the fund. Eric Wagner and Jamie Nash jointly lead the team, with Wagner representing all types of private funds including hedge, credit, and venture funds while Nash represents start-up, emerging and mature managers in connection with a variety of capital raising structures. Jason Grunfeld regularly handles seed deals, managed account agreements, and special purpose vehicles alongside management companies while Kelly Zelezen assists clients with a range of issues related to formation and operation, and compliance. All listed lawyers are based in New York.

Responsables de la pratique:

Eric Wagner; Jamie Nash


Autres avocats clés:

Jason Grunfield; Kelly Zelezen


Les références

‘Very knowledgeable team.

‘High level of knowledge with different departments working together.’

‘Kleinberg, Kaplan, Wolff & Cohen stands out for their partner-driven approach, ensuring every client benefits directly from the expertise of seasoned professionals.’

Principaux clients

Elliott Investment Management L.P.


DSC Meridian


GenRock Capital Management, LP


Clear Haven Capital Management, LLC


Boothbay Fund Management, LLC


Oribel Capital Management, LP


Principaux dossiers


  • Advised Clear Haven on the launch of an open-ended hedge fund. The hedge fund is focused on investments in asset-backed and residential mortgage-backed securities.

Lowenstein Sandler LLP

The team at Lowenstein Sandler LLP is based across New York and New Jersey and lends itself to an array of matters including fund formation and structuring, regulatory and compliance, as well as cryptocurrency and digital assets issues in this space. Robert Minion, Marie DeFalco, and Scott Moss jointly lead the team with Minion standing out for his organization and structuring of a variety of fund types including hedge and private equity, and multi-strategy while Moss focuses his practice on representing offshore and US-based funds, investment advisers, broker-dealers, commodity pool operators, and commodity trading advisors in formation and structuring as well as mergers and acquisitions, and other financial transactions. David Goret assists managers with various types of transactions and compliance matters while Boris Liberman advises US and international hedge funds, mutual funds, and managed accounts on investment and trading strategies.

Responsables de la pratique:

Robert Minion; Marie DeFalco; Scott Moss


Autres avocats clés:

David Goret; Boris Liberman


Principaux dossiers


Paul Hastings LLP

Paul Hastings LLP‘s team is well-regarded for its work on fund organisation, liquid fund structure, and regulatory capabilities. The team is led by Josh Sternoff and Michael Rosella from the New York office. In Los Angeles, Art Zwickel  focuses on structuring and organizing private investment funds, including hedge, private equity, and hybrid funds. Also based out of Los Angeles, Yousuf Dhamee multijurisdictional practice involves representing investment advisers in connection with the structuring and distribution of investment funds, including hedge funds, private equity funds, registered funds, and customized investment products.

Responsables de la pratique:

Josh Sternoff; Michael Rosella


Autres avocats clés:

Art Zwickel; Yousuf Dhamee


Principaux clients

Camden Asset Management, LLC


J.P. Morgan Private Wealth Advisors (JPMWA)


Dalton Investments LLC


Hawk Ridge Partners


ICG Advisors


Tree Line Capital Partners


801 West Capital Management


Advanced Research Investment Solutions


Arena Capital Advisors


Calvera Partners LLC


Cercano Advisors


Coincident Capital


Cottonwood Capital Partners


DAFNA Capital Management


Glendon Capital Management


Ishara Investments LP


KWK Management


Medina Value Partners LLC


Mercurius Media Capital LLC


Orso Partners


Preserver Partners


Prime Opportunities Investment Group


TerraCotta Group, LLC


Principaux dossiers


  • Advised Camden Asset Management on the organization of single-investor vehicles for institutional investors and provide continuous advice to Camden in respect of other funds managed by the firm and ongoing regulatory matters.
  • Assisting Dalton Investments on a number of projects, including launching a new series of its series trust to invest in the securities of Korean issuers and an inquiry by the House Judiciary Committee into ESG-related matters.
  • Representing Hawk Ridge Capital Management in connection with the organization of several new share classes for its flagship funds as well as negotiating side letter agreements with institutional investors coming into the fund.

Seward & Kissel LLP

Seward & Kissel LLPs team is based in New York, and provides clients with a holistic approach to their fund formation needs, often collaborating with departments such as tax and litigation to assist clients with their legal and regulatory needs. The team is jointly led by Patricia Poglinco and Kevin Neubauer who both advise a large number of funds in this space. Steven Nadel is well regarded for his work with top global hedge funds while Christopher Riccardi  collaborates with sponsors and managers of hedge funds, commodity pools, and hybrid funds.

Responsables de la pratique:

Patricia Poglinco; Kevin Neubauer


Autres avocats clés:

Steven Nadel; Christopher Riccardi


Les références

‘Great people, straight shooters, diligent and quick to respond.’

‘Very knowledgeable and solutions-oriented.’

‘Great partner oversight of all work. ’

Principaux dossiers


Willkie Farr & Gallagher LLP

Boasting a diverse client base, the team at Willkie Farr & Gallagher LLP handles transactional, regulatory and enforcement matters within the hedge fund space. The firm assists clients across hedge and private equity funds, commodity pools, registered funds and broker dealers. The team’s leadership group including Phillip Isom, Margery Neale, Lior Ohayon, Joseph Cunningham , Rita Molesworth, and Mark Vandehaar . The team has shown capabilities advising clients with digital assets assisting with transactions and issues arising out of virtual currency and digital ledger technology developments. All listed lawyers are based in New York.

Responsables de la pratique:

Phillip Isom; Margery Neale; Lior Ohayon; Joseph Cunningham; Rita Molesworth; Mark Vandehaar


Principaux dossiers


K&L Gates

The hedge fund practice at K&L Gates advises sponsors and managers of a range of hedge and alternative investment funds on navigating issues relevant to the structuring, documentation and operation of hedge funds in key jurisdictions worldwide. Washington’s Mark Amorosi and Ndenisarya Meekins co-lead the team with Boston’s Michael Caccese and Clair Pagnano. Christopher Lokken is based in Chicago and focuses his practice on the formation and operation of private investment funds and investment management firms while Matthew Mangan in San Francisco assists with fund formation, product structuring, and regulatory and compliance matters.

Responsables de la pratique:

Michael Caccese; Clair Pagnano; Mark Amorosi; Ndenisarya Meekins


Autres avocats clés:

Christopher Lokken; Matthew Mangan


Les références

‘The K&L Gates team is very smart and diligent and detailed. They produce quality work.’

‘Matthew Mangan, who leads the investment group, is absolutely the best in thought leadership and client service. He can use the whole firm resources at K&L gates to support clients. His understanding of structures and his ability to pay attention to detail is far better than anyone I have seen.’

Principaux clients

Nikko Asset Management Americas


Museum of Fine Arts, Boston


Mirova US


Principaux dossiers