K&L Gates’ Hedge Fund, Venture Fund, and Private Fund practice represents a full range of U.S. domestic and non-U.S. funds in all aspects of their organization, funding, operations, and extraordinary transactions. Approximately 20 of our partners and of counsel, and a substantial number of associates, devote a significant portion of their time to hedge fund, venture fund, and other private fund matters. Our clients include general partners, managing members and managers of hedge funds, venture funds, private equity funds (including leveraged buyout funds and distressed securities or “vulture” funds), offshore mutual funds, U.S. domestic and non-U.S. equity and debt funds, arbitrage funds, real estate funds, “principal-protected” funds, and various other private funds, as well as the funds themselves and significant fund investors. We work with fund sponsors, advisers, distributors, key investors, and similar participants, as well as custodians, administrators, prime brokers, and other private fund service providers.
Our work involves virtually all aspects of the fund business. We advise on organization, structuring, fund-raising, compensation, distribution, trading, e-commerce, and other issues. We are also frequently called on to assist clients with various “business” issues, such as identifying current market and best practices, evaluating fee and distribution structures, evaluating agreements with service providers, and operational matters. In addition, we often assist managers in structuring employment and compensation arrangements both for themselves and their employees and advise them on tax planning.
We counsel fund managers on the regulatory aspects of their businesses and operations. We help our clients to address the many issues presented in the rapidly evolving regulatory environment in the United States, Europe and Asia, including investment adviser registration and regulation, the effects of other securities laws, futures and derivatives regulation, and ERISA and tax issues.
We represent all segments of this industry and evaluate fund documents for institutional investors seeking alternative investments. Our clients include major fund managers, Wall Street and international investment banking firms, brokerage firms, mutual fund and institutional management firms, banks and bank holding companies, insurance companies, family offices, government agencies, pension funds, universities, and endowments.
Our clients come to us from across the United States. We have also represented fund managers with respect to funds offered, sold, and/or organized in Europe, Latin America, Asia, and Africa. Our London office advises London-based hedge fund managers and those looking to market funds into the U.K. and EU and/or domicile funds in an EU jurisdiction. We regularly assist non-U.S. managers to establish London operations. In Hong Kong, Taiwan, and Singapore, we regularly counsel money managers in fund structuring and distribution issues, including obtaining authorizations for onshore and offshore funds, advisers, and distributors, or the availability of exemptions.
As a full-service law firm, we offer resources in a number of areas that may be important for private funds, from employment law to tax to telecom.