The Firm: This team is an institution in the Massachusetts private equity market, and comes particularly recommended for its strength in limited partner and secondary fund representation. The Boston team is able to draw on the resources and bench strength of the firm's US and international offices to offer a comprehensive and far-reaching service for its impressive client list, which includes JPMorgan, Ares Management and Charles River Ventures, among others.

Sources Say: "They are by far and away the most experienced fund formation team I've dealt with. That translates into them being very practical and focused on getting things done. They also have a really good sense of the market, so you can really trust their advice."

Key Individuals:"Total rockstar" Robin Painter remains a luminary in the fund formation market. She advises long-term client Charles River Ventures on all aspects of its fund projects, and recently helped to raise a $375 million fund on its behalf.

Daniel Finkelman is regarded as an expert in multinational fund formation and assisted New Enterprise Associates in relation to one of the largest global funds ever raised.

The highly regarded Sean Hill is co-head of the private investment funds group and continues to make waves in the fund formation market.

Malcolm Nicholls is described by clients as "very practical in his approach, pleasant to work with and very responsive." Adams Street Partners remains a key client of his.

Seasoned practitioner David Tegeler "is very good in an advisory capacity due to his excellent experience, and we like him on a personal level, too," notes one enthusiastic client. He advises Boston-based Falcon Investment Advisers on its fund structuring projects.

Howard Beber continues to cut an impressive figure in the fund formation landscape and is known for his expertise in advising investors on alternative investments. Sources say: "He focuses on getting a deal done and he has a great sense of 'client comes first'." He advises Ridgemont Equity Partners in the structuring of its funds.

Stephen Mears maintains a robust fund formation practice and played a leading role in the aforementioned work for New Enterprise Associates.