Awards & Rankings 11.02.18
We advise fund sponsors and managers regarding their adviser entities, funds and regulatory matters.
We structure U.S. and global management companies and advise on tax-efficient offshore affiliate offices, employment contracts and employee incentive arrangements; handle trade name protection, federal and state registration and licensing, ongoing regulatory compliance, administrator, custodian and broker-dealers matters and the acquisition and sale of investment advisers. We counsel our clients regarding a broad range of securities regulatory compliance matters including the development and maintenance of compliance and internal control policies and procedures.
Private Equity Funds
Our team represents sponsors, general partners and investors in various private equity matters. We provide structuring solutions for funds worldwide and creatively negotiate governance and economic terms. We provide pragmatic and insightful counsel on matters such as commitment defaults, key personnel changes, fund restructuring, management compensation, taxation, transfers of fund interests, litigation risk, removal proceedings, dissolution and credit arrangements. Pillsbury is a trusted adviser on investment, co-investment, secondary and disposition transactions.
Our highly regarded hedge funds lawyers represent managers of U.S. and offshore hedge funds pursuing a variety of strategies, commodity pool operators and commodity trading advisers. We structure seed capital transactions, sub-advisory and funds-of-one arrangements, and negotiate institutional and sovereign wealth side letter agreements for managers. We have a keen sense for business-focused strategic advice regarding market terms, operational aspects and risk-based compliance and internal controls.
Registered Investment Companies
We represent investment funds registered under the Investment Company Act, including open-end, closed-end, interval and alternative funds; business development companies; and variable insurance funds. We also represent advisers, and sub-advisers, independent directors and individual and institutional investors in these funds. Our lawyers advise registered funds on their structure and ongoing issues relating to operations, distribution, trading, governance, compliance, SEC and FINRA examinations, and enforcement and private litigation matters.
Our practice lawyers represent broker-dealers and their employees in registering with the SEC and various states, and in becoming members of Financial Industry Regulatory Authority (FINRA). We also advise on the licensing and registration requirements applicable to broker-dealer representatives. Further, we advise on policies and procedures and supervisory controls. Financial services clients seek our advice concerning both U.S. and cross-border broker-dealer business.
Through our vast experience with private equity, hedge, real estate and capital funds, we offer insight and strategic advice to public pension plans and other institutional investors through the life of investments, including: direct investments, structuring joint ventures, separate accounts, co-investments and the exercise of governance rights. Additionally, we provide clients with valuable knowledge regarding relevant tax, regulatory and policy issues that arise during the investment process.
UK Regulatory Capabilities
Our team advises on Financial Conduct Authority compliance, European Union Directives compliance, European Alternative Investment Funds Managers Directive (AIFMD) and taxation and tax regulations applicable to investors in the UK and various EU jurisdictions. We also advise on the formation of investment vehicles, including offshore funds, SIFs, FCPs, SICAVs, UCITS funds, and investment trusts as well as provide guidance regarding investor eligibility.
Investigations and Inquiries
Our Corporate Investigations and White Collar Defense team represents investment managers in SEC, FINRA, Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Department of Labor, Internal Revenue Service, Department of Treasury and other state and federal regulator inquiries, investigations and proceedings. We have represented clients in inquiries into market timing, insider trading, late trading, conflicts of interest, and mutual fund sales practices regarding suitability, switching, breakpoints and point-of-sale disclosure.
Representing quantitative equity long-short managers, including clients with regional and global focus, in a variety of fund formations, structurings and institutional investors’ operational and compliance matters.
Represented hedge fund managers in negotiations of seed capital, managed account, investment sub-advisory matters, and institutional and sovereign side letter agreements
Representing multi-substrategy manager on fund formation, investment structuring and regulatory matters related to fixed-income and insurance-linked instruments.
Pillsbury has received HFMWeek’s “Best Onshore Law Firm-Client Service” award several times. The award recognizes top U.S. hedge fund service providers that demonstrate exceptional customer service and innovative product development.
The Investment Fund group’s Emerging Hedge Fund Manager program provides reasonable fixed-fee packaged launch solutions to small hedge fund startups and other startup benefits.