Proskauer Rose LLP's Hedge Fund practice focuses on the establishment and representation of hedge funds and hedge fund managers in all aspects of their operations, from fund formation to ongoing compliance with SEC, CFTC, NASD, tax and ERISA rules. Our clients include both U.S. and non-U.S. hedge fund managers, and range from large financial institutions and institutional investors to small independent hedge fund managers.
The Hedge Fund Group is based in our New York office and coordinates closely with our Investment Management, Private Equity, Tax and ERISA practices. The Group includes a core group of experienced legal practitioners who have represented hedge funds and managers for more than 20 years. For more information about this practice area, contact:
Hedge Fund Formation
Lawyers in the Hedge Fund Group have organized and represented onshore and offshore hedge funds using a wide range of investment and trading strategies in financial markets throughout the world. In addition to typical U.S. private investment limited partnerships, limited liability companies and offshore investment funds, we also have extensive experience in the structuring and formation of other open and closed-end investment vehicles, including master-feeder structures, funds of funds, private equity funds, hybrid funds, registered investment companies, group trusts, business trusts, structured funds, principal protected funds, insurance-linked products, and derivatives linked to the performance of investment funds.
We have organized funds that invest in long/short, arbitrage, event-driven, distressed, special situation, emerging market, futures and derivative strategies, as well as hybrid strategies that combine elements of hedge fund investment strategies with private equity or other investments. We have particular expertise in the development of tax-efficient investment fund structures offered simultaneously to investors in multiple jurisdictions, and in the development of tax-efficient investment management structures for both U.S. and non-U.S. investment management organizations.
Compliance
We provide ongoing advice to hedge funds and hedge fund managers regarding compliance with securities, commodities, tax and ERISA laws and regulations, and are supported by groups of lawyers who practice in the areas of investment management, tax, ERISA, private equity, broker-dealer, capital markets, finance, real estate finance, bankruptcy and restructuring, litigation, and intellectual property. In particular, we advise on SEC registration and exemption issues under both the Investment Advisers Act and Investment Company Act, private placements of securities, complex tax rules applicable to hedge fund operations, the plan asset rules and relevant exemptions under ERISA, CFTC registration requirements and exemptions, broker-dealer registration requirements and exemptions, and anti-money laundering requirements. We are particularly active assisting hedge fund managers in registering with the SEC and developing compliance programs and procedures for hedge fund managers under SEC rules.
We assist hedge fund managers in their underlying investment and trading activities, including advice as to bankruptcy and restructuring, capital markets, finance, mergers and acquisitions, corporate governance, private equity and real estate. We also advise hedge fund managers on all aspects of their internal operations and personal situations, including tax, compensation, estate planning, intellectual property, and dispute resolution.
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