We advise private fund sponsors, asset managers, investors and placement agents across the full life cycle of investment funds – formation and fundraising through compliance, financing, investments, ongoing operations and exits. Our lawyers pair deep market knowledge of fund terms with integrated tax, regulatory, finance and transactional support to help clients execute across strategies, geographies and return profiles.

We regularly form hundreds of investment vehicles, including private equity and venture funds, hedge funds, debt funds, real estate funds and REITs, energy and infrastructure funds, funds of funds, secondary and special situation funds, and Shari’ah-compliant funds. We have particular strength in open- and closed-end real estate funds and in structuring Shari’ah-compliant funds and Saudi Capital Market Authority-authorized products, including advising on the first CMA-approved listed REIT in Saudi Arabia.

Our experience spans complex fund structures, including open-end vehicles and hybrid structures that combine closed- and open-end features to provide liquidity options without an indefinite term. We also support sponsors – particularly emerging managers – through regulatory, operational and investor-alignment challenges, and help broaden investor access, including through Middle East investor engagement and Shari’ah compliance considerations integrated into fund formation.

Working as one team, we coordinate with tax, corporate, regulatory, finance and real estate/PE deal teams to structure and document funds, advise on U.S. and cross-border tax and audits, obtain and negotiate financing, and execute acquisitions, dispositions, mergers and joint ventures. We counsel managers on evolving U.S. and international requirements, including the Investment Advisers Act, Investment Company Act, Dodd-Frank, the Volcker Rule, the Commodity Exchange Act, AIFMD, MiFID II, the UK Financial Services Act and German AIF regulations, as well as EU marketing structures, SFDR/EU taxonomy, AML/KYC, organizational requirements, SAR issues and outsourcing of regulated activities.

For investors, we advise ERISA investors, fund of funds and ultra-high net worth investors on diligence and negotiation of fund terms and investor-specific tax and regulatory issues, and we assist institutional investors with structuring and negotiating complex secondary transactions. We also advise sponsors and investment management teams on participation in buyouts and other investment management transactions, including equity incentive and compensation objectives over the life of the business.