Emerging Managers, Seed Investors, and GP Stakes
As an integral part of one of the largest asset management practices of any firm, our Emerging Manager, Seed Investors, and GP Stakes practice is among the leaders in the space. We represent both new and growing investment managers in launching their investment vehicles, seed investors, as well as investors acquiring GP stakes in more established managers. Our expansive experience advising both sponsors and investors gives us unique perspective and deep connections within this fast-growing industry, allowing us to provide comprehensive solutions that help our clients reach their goals.
Our full service firm serves as a single and efficient resource for every aspect of emerging managers’ legal needs, and our lawyers have guided numerous first-time and growing investment managers through all phases of development with commercially sensible and cost-effective advice. We help them navigate their new fund launches and lay the groundwork for future success. As our clients grow, we guide them through successive fund launches, make-or-break issues among founders and key stakeholders, and many other matters. Many of our lawyers have in-house experience, giving us an insider’s understanding of the commercial and operational considerations that underlay a successful private fund manager.
We also work with a wide range of investors that invest in emerging and middle market fund managers, including some of the leading U.S.-based seed investors that seek GP economics alongside their anchor investments, institutional investors making minority investments in emerging and middle market managers, and family offices supporting new managers. These clients rely on our seasoned team to help manage commercial and governance terms to protect their investment and enhance value for the fund manager, as well as sophisticated advice to help manage conflicts of interest and other regulatory pitfalls that are common in these arrangements. Our extensive work with both investors and emerging managers gives us an unmatched perspective on market expectations and practical solutions for seed and stake arrangements.
We apply our comprehensive and unique insight to deliver multi-disciplinary, integrated advice on the full range of matters faced by a new and growing business, including:
Business Structuring, Operations, and Regulatory Support
We provide holistic guidance on overall business structuring, founder arrangements, tax matters, executive and employee matters, trademark and intellectual property protection, service provider negotiations, and more. Our lawyers provide regulatory guidance that strikes the balance between prudent compliance practices and the needs and capabilities of managers with lean infrastructure and support.
Fund Formation and Operation
Our funds lawyers have deep experience in commingled vehicles, funds-of-one, and employee vehicles, to name just a few. Our experienced Tax lawyers provide structuring advice to maximize tax efficiencies and avoid traps for the unwary. We have unparalleled regulatory knowledge to navigate the range of compliance considerations that emerging managers and their funds face. Our experience on both the manager and investor side gives us unique insight to market terms and negotiation strategies. We deal with all manner of investors, from high net worth and sovereigns to institutional investors, seeding funds, and family offices.
Transactional Matters
We provide adept guidance to emerging managers as they execute on their strategies. Whether it is mergers and acquisitions transactions, private credit deals, litigation finance, or anything in between, we have the capabilities necessary to assist.
