Hedge Funds

Shearman & Sterling has long served as counsel to many of the world’s largest and most successful hedge fund firms, an array of emerging managers and numerous other market participants that have played pivotal roles in shaping the hedge fund industry.

Most recently, we were trial and appellate counsel for 
Todd Newman in connection with the landmark Court of Appeals decision reversing his criminal insider trading conviction, and Supreme Court proceedings in which US Solicitor General’s petition for review of the case was denied.

Shearman & Sterling’s full-service hedge fund industry team is led by lawyers based in New York, London and Hong Kong, with support from our global network of offices.

Our team’s areas of particular focus include:

  • Formation of hedge funds, hybrid funds and funds of funds
  • Counseling institutional investors in negotiating the terms of their fund investments
  • Structuring and negotiating managed account relationships
  • Developing and implementing investment adviser, commodity trading advisor and commodity pool operator compliance programs for managers subject to applicable US regulation
  • Developing and implementing compliance programs for managers subject to applicable regulation in the UK, and counseling clients on applicable regulatory requirements under AIFMD
  • Counseling ERISA plan asset managers on compliance with applicable provisions of ERISA and its regulatory framework
  • Assisting clients in responding to government investigations
  • Representing funds in all manner of portfolio transactional matters, including the evaluation and restructuring of their counterparty risk for their global prime brokerage and derivatives trading structures
  • Advising hedge fund managers (and potential acquirers of interests in hedge fund managers) in connection with strategic investments and management company M&A matters

Utilizing a multidisciplinary approach, our lawyers working on these and other hedge fund matters provide our hedge fund sponsor and investor clients with integrated advice on all aspects of their most important and challenging business goals. Our international network positions us particularly well to advise clients on cross-border matters, as well as the continually evolving regulations that impact the hedge funds industry on a global basis.

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