Awards & Rankings 02.14.25
Service
Repeatedly recognized for exceptional client service, Pillsbury’s Investment Funds group is a leader in counseling investment advisers, funds and institutional investors with formation, ongoing operations, and strategic, transactional and regulatory compliance matters.
Composed of investment management lawyers and professionals in supporting practice groups across the firm’s U.S. and international offices, Pillsbury’s Investment Funds group provides strategic and legal guidance to investment management industry participants. Our lawyers counsel registered and exempt investment advisers, including private equity, hedge fund and mutual fund managers, and benefit plan fiduciaries, in all aspects of their businesses including fund structuring and formation, managed accounts, funds-of-one advisory and sub-advisory arrangements.
We help clients with a broad range of regulatory matters, including with federal and state registrations and available exemptions, regulatory filings, broker-dealer and commodities matters, solicitation/placement arrangements, trading practices, derivatives, ERISA, profit sharing, and compliance policies and procedures. We apply our deep market knowledge and decades of experience to provide pragmatic, business-savvy and cost-effective advice, delivering solutions that address issues head-on and without delay. We pride ourselves on our reputation for proactive, personal, responsive and thoughtful counsel and our ability to maintain longstanding relationships with clients.
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We advise fund sponsors and managers regarding their adviser entities, funds and regulatory matters.
Investment Advisers
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.
Hedge Funds
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.
Broker-Dealers
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.
Investors
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.
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