‘Far and way the best and most sophisticated’ hedge fund practice, the team at Fried, Frank, Harris, Shriver & Jacobson LLP advises leading financial institutions and fund managers throughout the entire life-cycle of hedge funds. The firm acts on fund formation and transactional matters, including incubation transactions, secondaries and fund restructurings. It is also adept at handling matters relating to hedge fund-of-funds. Leading the practice, Lawrence Barshay advises on transaction negotiations and fund structuring for major  investors. Jonathan Adler is well-versed in a wide range of hedge fund regulations, while the ‘brilliant’ Lisa Schneider supports clients in hybrid fund and bespoke product formation. Allison Yacker represents buy- and sell-side clients, bringing experience in fund formation and corporate contexts. Jason Koenig focuses on formation, fundraising and management matters for multi-manager hedge funds. Dorothy Mehta advises on cross-border transactions, bringing knowledge of SEC and CFTC registration and compliance. Menachem Farber’s experience covers a broad spectrum of clients, including funds-of-funds, hybrid funds and managed accounts based domestically or abroad. All mentioned lawyers are located in New York.

Leveraging ‘unique industry knowledge’, McDermott Will & Schulte advises on the formation and operation of high-value, international hedge funds, including multistrategy hedge funds. With a broad strength across asset classes, the firm is an experienced advisor to clients looking to enter the blockchain and cryptocurrency market. The practice is particularly well-versed in advising on regulatory and compliance issues, as well as in shareholder activism cases. David Efron is an expert in crises management situations and supports clients with SEC compliance matters. Peter Greene assists single- and multi-strategy hedge funds with their formation and structuring. The ‘excellent’ Jason Kaplan specializes in advising alternative investment funds on corporate and securities matters. Also of note, Stephanie Breslow represents liquid-securities funds, including traditional hedge funds, hybrid funds and activist funds. Daniel Hunter concentrates on the formation of open-end, closed-end and evergreen funds. David Nissenbaum advises fund managers on strategic investment, control transactions and succession planning. Eileen Overbaugh is also of note. All lawyers are based in New York.

Noted for its ‘unrivaled’ knowledge of recent developments in the sector, Paul, Weiss, Rifkind, Wharton & Garrison LLP specializes in seed capital and crisis management support, representing institutional and independent hedge fund managers. The firm is well-versed acting for clients in cross-border transactions, compliance matters and fund formation. When necessary, it is also able to support clients in upper-tier issues relating to tax and litigation. The New York-based practice is jointly led by Udi Grofman and Marco Masotti. Possessing ‘a very rare commercial sensibility’, Grofman supports clients in minority and majority asset manager transactions and in crisis management, from internal investigations to regulatory litigation. Masotti supports high value funds in their formation and asset management. Lindsey Wiersma advises on upper tier arrangements, seeding arrangements and secondary transactions.  Robert Tananbaum acts for hedge funds, hybrid funds and distressed funds along their entire lifecycles.

Displaying 'a great commercial sense and a pragmatic approach', Sidley Austin LLP supports global hedge fund managements in their cross-border activities. The firm is well-versed in a wide range of fund structuring, including side-by-side and umbrella fund structures. It also supports clients with regulatory issues, investigations, securities enforcement and restructuring. Located in Boston, Elizabeth Shea Fries leads the team, acting on hedge funds, credits funds and funds of funds matters. Daniel Spies is located in the New York office, advising clients on IAA and CEA compliance. Based in Chicago, Janelle Ibeling assists investment managers and institutional investors on the structuring, formation and operation of alternative investment products. An 'excellent lawyer', David Form is knowledgeable in ICA compliance matters relating to index-based structured notes.

Combining ‘deep technical expertise with a genuinely commercial, solutions-oriented approach’, Akin is well-versed in assisting start-up hedge funds in their formation. The firm is also adept at handling regulatory issues for its clients, including SEC, CFTC, FSA and Hong Kong regulatory matters. Acting for private fund managers, members support clients in structuring to address tax and liquidity issues. Leading alongside Daniel Quinn, Barbara Niederkofler represents hedge, hybrid and evergreen funds on structuring, fundraising and upper-tier arrangement matters. With ‘an incredibly deep understanding of the market’, Ann Tadajewski advises fund managers on regulatory compliance and succession management, while JP Bruynes adds experience in SEC, CFTC and NFA audits and investigations. Leveraging an ‘expansive network’, Max Karpel negotiates platform, seed and acceleration deals for hedge fund clients. All lawyers are based in New York.

Davis Polk & Wardwell LLP covers the full fund life-cycle, from formation and seeding to tax and credit arrangements. The firm is also an expert in compliance matters, assisting funds with SEC registration, compliance infrastructure implementation and SEC inspection. It is also experienced in handling novel investment strategies, including those involving digital assets and the blockchain. The New York-based practice is overseen by Leor Landa, who focuses on the formation and operation of hedge funds, credit funds, secondary funds and funds of funds, and Gregory Rowland, who acts on transactional, regulatory and compliance issues concerning digital currencies and the blockchain. Benjamin Milder focuses on advising sponsors and investors in secondary transactions, including GP-led secondary transactions.

The team at K&L Gates is well-versed in advising sponsors and managers of hedge and alternative investment funds on the structuring, documentation and operation of domestic and foreign hedge funds. Leadership of the group is shared between Boston-based Michael Caccese and Clair Pagnano, along with Washington DC-based Mark Amorosi and Ndenisarya Meekins. Caccese acts as firm co-chair and specialises in investment management, securities law, regulatory compliance, and fund formation and governance; Pagnano, for her part, advises the launch of new funds  and regulatory issues. Chicago-based Christopher Lokken and Matthew Mangan in San Francisco are additional key contacts for fund formation, product structuring and transactional and securities law matters.

With work spanning a wide range of jurisdictions, the team at Katten is well-versed in handling regulatory and compliance issues for its clients, from securities and digital assets issues to derivatives and tax concerns. The firm is at home handling emerging trends in the hedge funds space, advising on cryptocurrencies, quantitative and algorithmic trading. Based in Chicago, Lance Zinman jointly leads the practice alongside in Wendy Cohen in New York. Zinman is an experienced advisor to quantitative asset managers and proprietary trading firms deploying algorithmic and low-latency trading strategies. Cohen specializes in providing regulatory advise to investment managers. In New York, Henry Bregstein acts for creators and distributors of alternative investment vehicles, while Chicago-based Jonah Roth supports commodity pools and funds of funds on their formation, structuring and operation.

With 'a rare combination of deep technical excellence, commercial awareness, and consistent senior-level engagement', Kleinberg, Kaplan, Wolff & Cohen, P.C. provides a comprehensive service to its funds clients, advising on fund preparation and launch, compliance, as well as transactional matters. Leveraging its wider sector capabilities, the firm supports fund managers with tax, gift planning and asset protection issues. It also assists clients in disputes arising out of investments and other transactions. Eric Wagner, who represents hedge and credit funds as well as sponsors and portfolio managers, and Jamie Nash, who assists in the formation, structure and operation of both start-up and mature funds, manage the team. Jason Grunfeld represents clients in the drafting and negotiating of seed deals, managed account agreements and strategic investments. The practice is based in New York.

‘Smart, seasoned, and highly responsive’, Lowenstein Sandler LLP offers full service support to its investment clients, assisting in fund formation, compliance, digital assets and white-collar crime matters. With additional strength in structured product and securities litigation, the firm acts for a wide range of hedge funds and alternative investment vehicles, including fund of funds, private equity and commodity pool traders. Splitting their time between New York and New Jersey, Robert Minion leads the team alongside Marie DeFalco and Scott Moss. Minion is experienced structuring private credit and litigation finance funds, while DeFalco focuses on supporting venture fund managers. Moss specializes in assisting investment management clients with compliance programs and new regulatory standard adherence. Located in New York, the 'extremely hands-on' Jonathan Danziger represents clients in regulatory examinations and inquiries as well as in trading and corporate issues.

Seward & Kissel LLP is well-versed assisting funds managers based across the globe in their documentation, formation and launches. The firm is knowledgeable in a wide range of fund structures, including master-feeder structures, as well as special purpose investment vehicles. The New York-based practice is overseen by Patricia Poglinco, who advises clients on structuring and regulatory issues, and Kevin Neubauer. Christopher Riccardi represents sponsors and managers of hedge funds, funds of funds and commodity pools. Daniel Bresler is an expert in derivatives, commodities interest regulation and Sections 13 and 16 of the Securities Exchange Act. Also of note, Nicholas Miller brings experience in closed-end and open-end structures to the team.

Noted for its 'first-rate' breadth and depth, Willkie Farr & Gallagher LLP regularly advises clients on business-critical transactional, regulatory and enforcement matters. The firm is instructed by hedge funds, commodity pools and broker dealers across the spectrum of CFTC, swaps and derivatives regulatory matters. Located in New York, the practice is overseen by Phillip Isom, Margery Neale and Lior Ohayon. Gabriel Acri assists domestic and offshore hedge funds on their formation, maintenance and regulation. Deborah Tuchman is well-versed in acting for funds of funds, commodity pools and distributors of investment funds. Steven Matos focuses on formations and restructurings, with wider skills in SEC and CFTC regulatory compliance.