Our Hedge Funds Practice is a multi-disciplinary team providing comprehensive advice to start-up and established hedge fund managers, advisors and financial institutions that engage in business with hedge funds.  We draw on our highly skilled lawyers in the United States (New York; Washington, DC; and Chicago), the United Kingdom, Belgium, Germany and Italy to provide our clients with seamless service across the markets in which they operate.

Our Hedge Funds Practice is a multi-disciplinary team providing comprehensive advice to start-up and established hedge fund managers, advisors and financial institutions that engage in business with hedge funds.  We draw on our highly skilled lawyers in the United States (New York; Washington, DC; and Chicago), the United Kingdom, Belgium, Germany and Italy to provide our clients with seamless service across the markets in which they operate.

We advise on the structuring, formation and ongoing operation of hedge funds and funds of hedge funds in offshore domiciles of choice and the United States.  The services we provide include: 

• Structuring of hedge funds and funds of hedge funds, including registered investment companies and Delaware series limited liabilities companies.
• Preparation of offering documents, organizational documents, subscription agreement, side letters, advisory and sub-advisory agreements, compliance manuals and other key documentation for hedge funds.
• Corporate structuring, tax planning and employee compensation for the hedge fund manager/advisor.
• Negotiation of International Swaps and Derivatives Association, Inc. (ISDA) documents, futures trading documents, prime brokerage agreements, securities lending documents, repurchase agreements, environmental emission allowance trading agreements and other trading documentation.
• Advice relating to energy and commodities issues, structured transactions and related trading documentation, including investments in and restructuring of distressed power generation debts.
• In the United States, advice relating to Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission regulatory issues, including those arising out of the Securities Act of 1933, the Securities and Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940 and the Commodity Exchange Act, involving, among other things, registration of hedge fund managers/advisors with the SEC and registration of fund of hedge funds under the Investment Company Act of 1940.
• In the United Kingdom, advice relating to Financial Services Authority (FSA) authorization and regulation of hedge fund managers/advisors and all related regulatory and compliance issues.
• Advice relating to anti-money laundering laws and regulations and the USA Patriot Act.
• Private placement/marketing of hedge funds in the United Kingdom, United States, Germany, Italy and other key jurisdictions
• Advice relating to tax issues with respect to hedge funds domestic and international business activities, financial products and derivatives.

We have the depth and breadth of experience necessary to assist hedge funds, their managers and advisors with highly sophisticated transactions including:

• Equity swaps, credit default swaps, total return swaps and other derivatives, including leveraging transactions.
• Collateralized debt obligations and other structured finance products.
• Principal-protected notes with hedge fund performance-linked coupon components.
• Collateralized fund obligations of hedge funds and private equity funds.
• Acquisition finance for investment funds and other financing transactions.
• Representation of risk arbitrage funds considering investments in the securities of publicly traded companies that are the subject of takeover attempts (including advice regarding antitrust, corporate and regulatory issues).
• Lending matters, including loan and liquidity facilities granted by banks to hedge funds and fund of hedge funds, loan facilities provided by hedge funds, and loans secured by interests in hedge funds (in connection with these matters, we have regular contact with U.S. money center banks actively engaged in such lending activities).
• Strategic investments in listed companies and activities relating to shareholder value.
• Structuring and representation of hedge funds regulated by the Employee Retirement Income Security Act (ERISA).
• Electronic commerce transactions.
• Intellectual property management.
• Private equity investments, including private investment in public equity (PIPE) transactions.
• Venture capital investments.
• Structuring investments in emerging markets.

In addition, we have substantial experience in areas that are increasingly more important to hedge fund managers, financial institutions transacting with hedge funds and hedge fund investors, such as tax, employment law, broker-dealer regulation and litigation.