Fund Formation and Related Advice
We represent fund managers in the formation and establishment of onshore and offshore funds, including hedge, venture capital, private equity and subordinated debt funds as well as funds of funds. These funds include those with unique trading techniques, such as multinational investment and FX hedging and specialty focuses such as life sciences, medical equipment and homeland security.
Our private equity practice group attorneys are skilled in the partnership/limited liability company, regulatory and tax issues of concern to fund general partners or managers, domestic taxable and tax-exempt investors and offshore investors. In addition to advising managers and general and limited partners on fund structures, business terms and documents, we also counsel managers and general partner principals in resolving the key issues relating to the operation of the general partner or manager entity.
We also represent large foundations, universities and other tax-exempt investors in their fund investments. Our private equity group is credited with creating the "ERISA and Foundation Outs," which allow tax-exempt investors to participate in fund investments. These investment terms now appear in almost all venture capital/private equity funds that include such institutional investors. We have also developed special investment vehicles for ERISA and tax-exempt organizations to invest in exploration and production investments in the energy field.