Hedge Funds / Private Equity Funds / Other Investment Funds

Finn Dixon & Herling provides a broad range of legal services to hedge funds, private equity funds, other investment funds and their investment managers. Our fund attorneys draw on decades of collective experience to provide legal services with a high level of sophistication. Our extensive knowledge of the hedge fund and private equity industries, as well as extensive industry contacts, enable us to provide clients with insights on industry trends and current market/business practices, and to approach client-servicing from a perspective that takes into account the business realities that our clients face. Each client relationship is approached on an individualized basis, taking into account the specific circumstances applicable to the client as well as the client’s expressed needs and preferences.

Firm attorneys have collectively represented hundreds of funds. The firm represents fund managers located in the U.S., Canada, Europe and Asia, with assets under management ranging from less than US$100 million to more than US$10 billion. Among the strategies employed by firm clients, are:

  • Long-only equity
  • Long/short equity
  • Private equity
  • Venture capital
  • Options
  • Fixed income
  • Quantitative
  • Arbitrage
  • Distressed/special situations
  • Futures/commodities
  • Real estate
  • Multi-strategy
  • Fund of fund/multi-manager platform
  • Manager/fund incubator
  • Cryptocurrencies (e.g., commodity tokens)
  • Security tokens

Finn Dixon & Herling represents funds and fund managers employing a wide variety of legal structures and implicating a broad range of regulatory considerations. In addition, our attorneys have frequently represented clients in connection with innovative and cutting-edge fund products (e.g., ERISA funds, insurance-dedicated funds, multi-manager platforms, hybrid fund products, collective investment trusts). In this regard, our fund attorneys work closely with the firm’s other practice groups, in particular: Private Equity, Mergers & Acquisitions, Banking and Finance, Tax, Employment Law and Regulatory & Enforcement.

Services – Domestic and Offshore Fund Formation

We advise clients with respect to all U.S. legal aspects of fund formation, including:

  • General partner/management company structuring and formation including: arrangements among principals; employee compensation and retention matters; and related tax matters
  • Structuring of fund products including: U.S. tax implications of fund structures; appropriate jurisdictions of formation – U.S. vs. various offshore jurisdictions; available exemptions from the U.S. Investment Company Act of 1940; side-by-side vs. master-feeder investment structures; hybridized products and structures
  • Seed investor and joint venture matters
  • Preparation of formation documents for general partner, management company and funds
  • Preparation of fund offering documents
  • Coordination with other professionals, including: accountants, auditors, administrators, offshore legal counsel
  • Investment Adviser registration and compliance
  • Broker-Dealer registration and compliance
  • Commodity pool operator and commodity trading advisor registration and compliance

Services – Post-Formation Matters

We advise clients with respect to a variety of post-formation legal matters, including:

  • SEC Regulation D and state notice (“blue sky”) filings
  • Employment and consulting agreements. Other personnel matters
  • Side letters and other investor agreements
  • Investing/trading issues regarding liquid and illiquid positions
  • 1934 Act compliance matters (Schedules 13D, 13G; Form 13F; Forms 3, 4, 5)
  • Derivatives (review of ISDA documentation, negotiation with counterparties)
  • Private equity and other “side pocket” transactions
  • Credit facilities
  • Governance matters
  • On-going investment adviser, broker-dealer, commodity pool operator and commodity trading advisor registration and compliance matters
  • ERISA matters
  • Distribution/marketing arrangements
  • New product design and implementation

Services – Management Company Transactions

  • Seed investments
  • Joint venture transactions
  • Investments by strategic/financial investors
  • Sale of business
  • Succession matters