Michael Saarinen is a partner in the Investment Funds practice. Michael represents a diverse group of fund sponsors, from small, closely held startup businesses to global financial institutions. He advises on the formation and operation of a wide range of fund products, such as traditional private equity buyout funds, growth equity funds, venture capital funds, real estate funds, hedge funds, credit funds, and customized investment arrangements such as single-investor funds, co-investment funds, pledge funds, and joint ventures.

Managers and principals routinely seek Michael's guidance on critical matters, including business initiatives, strategic transactions, compensation, restructurings, secondaries transactions, regulatory issues and crisis management. He also frequently works either with or opposite all major categories of private fund investors.

Michael is consistently recognized as a leading private funds attorney. He was named the exclusive United States winner of Lexology’s “Client Choice Award” for Private Funds in 2022 and 2021. Michael has also been identified by Private Funds Management as one of the “30 Most Influential Private Equity Lawyers Under the Age of 40,” and honored for his private fund expertise by prominent legal publications such as The Legal 500 United States and Who’s Who Legal Thought Leaders: USA. In addition, Michael is a voting member of the Private Investment Funds Committee of the New York City Bar Association.

Earlier in his career, Michael was a partner at SECOR Asset Management, where he served as general counsel and chief compliance officer.

• Represented founders in the establishment of new asset management businesses and the formation and capitalization of private fund platforms, including real estate funds, global macro funds, seeding funds, and long-short funds of funds
• Represented a global asset management firm in the formation and capitalization of closed-end private funds focused on targeted asset classes such as foreign nonperforming loans, mortgage servicing rights, and infrastructure assets
• Represented a global private equity firm in the establishment of a new registered investment adviser and the formation of a flexible multistrategy hedge fund focused on investments in publicly traded equity securities
• Represented an asset management firm in the strategic expansion of its asset management services platform
• Represented a private equity firm in the formation and capitalization of co-investment funds
• Represented a private equity firm in the formation and capitalization of single-asset funds for investments in targeted opportunities, including a foreign real estate development project, a securities issuance by a global technology company, and a management buyout of a communications business
• Represented a private equity firm in the establishment of a feeder platform to provide access to the firm’s single-asset private funds
• Represented an endowment-style manager in the formation and capitalization of a feeder platform consisting of multiple single-investor funds that provide customized services to investors in the manager’s liquid strategy funds
• Represented a private equity firm in the acquisitions of interests in unaffiliated private equity funds through the secondary market and via direct investments
• Represented multiple registered investment advisers in regulatory exams and investigations
• Represented a VC-focused fund of funds in numerous investments in venture capital funds
• Represented university endowments, sovereign wealth funds, and insurance companies in investments in private equity funds and hedge funds
• Represented an insurance company in the establishment of a joint venture with a third-party business development company (BDC) and on BDC joint venture transactions
• Represented a venture capital portfolio manager on the successful separation from his prior employer

Matters may have been completed before joining Shearman & Sterling.

Professional & Community Engagement

• Voting Member, Private Investment Funds Committee of the New York City Bar Association
• Member, Finnish American Chamber of Commerce - New York
• Member, Finlandia Foundation New York Metropolitan Chapter
• Member, Harvard Law School Class of 2003, 15th Reunion Gift Committee (2018)

Awards & Accolades

• Lexology named Michael the exclusive U.S. winner of the “Client Choice Award” for Private Funds in 2022 and 2021, and as one of four winners in 2020. His clients described him as “extraordinarily client focused“ and “very knowledgeable on what is going on in the market across all asset classes,” noting his ability to “think outside the box and “tailor his work to focus on the areas most important to his clients.”
• Private Funds Management identified Michael as one of the “30 Most Influential Private Equity Lawyers Under the Age of 40,” a group of attorneys recognized by the industry as “the best of the best in the field,” stating, “[w]hen he’s not speaking before an audience, Saarinen is busy advising major GPs like Advent International on new fund formations and other products. His peers tell us his work deserves praise. We couldn’t agree more.”
• Who’s Who Legal Thought Leaders: USA 2023 recognized Mike for excellence in the categories of “Private Funds – Formation” and “Private Funds – Regulatory,” describing him as “well known for his genuine enthusiasm for and deep knowledge of fund formation."
• Who's Who Legal named Mike a global leader in the categories of “Private Funds – Formation” each year since 2018 and “Private Funds – Regulatory” each year since 2021.
• The Legal 500 recognized Mike for “Investment Fund Formation and Management: Alternative/Hedge Funds.”
• Corporate Counsel twice selected Mike to chair its annual Hedge Fund GC and Compliance Officer Summit.

Publications & Presentations

• “SEC’S Division of Examinations Issues Risk Alert Regarding MNPI-Related Compliance Issues for Investment Advisers”, Shearman & Sterling, May 2, 2022.
• “The Evolution of the Hedge Fund Industry – Fireside Chat”, Shearman & Sterling Family Office Summit, October 12, 2021.
• “Negotiating Private Equity Fund Terms: Key Provisions for PE Sponsors and LP Investors and the New ILPA Model Limited Partnership Agreement”, Stafford Webinar, April 16, 2020.
• “What's on the Horizon — The Risks with Alternative Fund Structures” and “Cybersecurity Practices in Deterring Threats”, moderator, Corporate Counsel's General Counsel Conference 2019, New York, NY, September 25-26, 2019.
• “How Technology Will Impact the Investment Office — Investing in a Crypto Fund”, The Regulatory Fundamentals Group, New York, NY, October 18, 2018.
• "A Guide to Third Party Litigation/Arbitration Funding and Investing”, U.S. Endowment Consortium Webinar on Litigation Funds, webinar, October 3, 2018.
• "Hedge Fund Innovation — The Growing Role of Al & Machine Learning”, moderator, 12th Annual Hedge Fund General Counsel and Compliance Officer Summit, New York, NY, September 26-27, 2018.
• “The Firm-Wide Regulatory Battle: Finding the Formula for Effective Internal Communications”, The Summit for Asset Management Conference, Boston, MA, November 15, 2017.
• “Structuring Programmatic Real Estate Joint Ventures: Structures, Deal Sharing and Exclusivity, Pooling Variations”, Strafford Publications, webinar, October 24, 2017.
• “Fundraising Trends”, Private Equity Program, Columbia Business School, New York, NY, October 9, 2017.
• “The Future of the Business of Hedge Funds: Where Do We Go from Here?”, moderator, 2017 Hedge Fund General Counsel & Compliance Officer Summit, chair, New York, NY, October 4-5, 2017.
• “Building a Compensation Structure for Hedge and Private Equity Funds That Attracts Star Employees”, Baker Tilly Breakfast Series, New York, NY, September 28, 2017.
• Young Jewish Professionals Wall Street Investment Forum, moderator, New York, NY, June 27, 2017.
• “Selling GP Stakes — The Dos and Don'ts for Bringing in Outside Investment”, HFMweek Briefing, New York, NY, May 25, 2017.
• “Building and Developing an Inventory of Risks”, ACA Spring 2017 Compliance Conference, Palm Beach Gardens, FL, May 3-5, 2017.
• “Regulation in an Ever-changing Environment”, 2017 Gemini EDGE Conference, New Orleans, LA, April 2426,2017.
• “Structuring Programmatic Real Estate Joint Ventures: Deal Sharing and Exclusivity, Pooling Variations, Default Remedies, Exit Provisions”, New York, NY, March 1, 2017.
• “Getting Through a Regulatory Audit: What to Expect and How to Prepare”, The New York Hedge Fund Roundtable, New York, NY, December 6, 2016.
• “Co-Investment Funds in Focus: Legal Considerations for Attorneys Advising Sponsors or Investors”, Private Investment Funds Subcommittee, New York State Bar Association, New York, NY, November 30, 2016.
• “Investor Relations and Compliance: A Balancing Act”, ACA Compliance Group Fall 2016 Compliance Conference, Marina del Rey, CA, October 26-28, 2016.
• “The SEC & Private Equity Firms: Significant Conflict of Interest Policy and Disclosure Issues to Watch For”, The Knowledge Group, webinar, September 28, 2016.
• “Oversight of the Marketing Process”, ACA Compliance Group, webinar, September 13, 2016.
• “Oversight of the Marketing Process”, ACA Compliance Group Spring 2016 Compliance Conference, Boca Raton, FL, May 6, 2016.
• “Social and CCOs: The Latest in Tackling a Thorny Issue”, Compliance Reporter Breakfast Briefing, New York, NY, December 2, 2015.
• “Private Fund Fees and Expenses”, ACA Compliance Group, webinar, November 10, 2015.
• “Concluding the Investigation and Knowing How to Remediate: Know When to Disclose, Litigate, and When to Implement Corrective Actions”, The General Counsels' Forum on Internal Investigations & Compliance: Reducing Your Risk Exposure via Proactive Internal Controls, Financial Research Associates LLC, New York, NY, November 9, 201
• “Legal Due Diligence Considerations for Private Fund Investors”, Private Investment Funds Subcommittee, New York State Bar Association, New York, NY, May 15, 2015.