Sullivan & Cromwell LLP provides a full range of advice to alternative investment management clients, including hedge funds, private equity funds and other alternative investment vehicles, as well as to commercial banks, investment banks and principals in connection with sponsorship, investments, formation and other relationships with alternative asset managers and funds.
S&C’s Alternative Investment Management Group works closely with clients to focus on regulatory, advisory, transactional and fund formation matters. Our practice involves work with some of the largest and most sophisticated managers in the alternative investment management community. We provide customized and specific advice on regulatory and transactional matters for select managers that seek our expertise. In an era of increasing regulatory complexity, we take an interdisciplinary approach to the alternative investment management practice, drawing on decades of market experience, our strong relationships with regulators, and our preeminence in our practice areas, which include:
- Investment Management
- Private Equity
- Commodities, Futures and Derivatives
- Financial Institutions
- Corporate and Finance
- Executive Compensation
S&C advises alternative investment management clients around the world on a wide variety of important regulatory matters. We deal on a regular basis, and at all levels, with securities, commodities, banking and other regulatory and governmental agencies. We have extensive experience with the Investment Advisers Act, the Investment Company Act, the Commodity Exchange Act, the Dodd-Frank Act and related rulemakings and their impact on alternative investment managers, including private equity and hedge funds. Among other things, S&C has experience assisting banking organizations in navigating sponsorship of hedge funds and private equity funds under the Volcker Rule, as well as experience with the Title VII regulation of derivatives. As Dodd-Frank has not yet been fully implemented, S&C works closely with clients to plan trading strategies and product offerings in a range of possible future regulatory environments.Visit our Financial Services Reform Resource Center for the latest developments.
In addition to advising on regulatory matters, S&C advises clients in connection with examination, enforcement, investigations and related matters. We represent alternative investment management clients in their interactions with government agencies and self-regulatory organizations, as well as in litigation matters. Many of our lawyers have extensive backgrounds in government service, strengthened by regular appearances before federal and state regulators and courts. Litigators in the group have been at the center of the most sensitive criminal defense and investigative matters.
The Firm takes a multi-disciplinary approach to mergers, acquisitions and dispositions of, and investments in, alternative investment management companies, and has advised on some of the most complex and innovative transactions in the industry. We represent U.S. and non-U.S. investment advisers, investment banks, insurance companies, broker-dealers and diversified financial services firms in mergers and acquisitions, joint ventures, financings and related corporate transactions involving alternative investment managers.
The Firm also represents private equity funds in a broad range of acquisition, financing and disposition transactions involving portfolio companies. In executing these diverse transactions, our lawyers draw upon the Firm’s vast experience and expertise in asset management, financial institutions, M&A, leverage finance, capital markets and tax.
Management Company and Fund Formation
S&C has significant experience in the structuring and formation of alternative investment management companies. Our lawyers work closely with private fund sponsors to integrate their management principles into the organizational documents that govern their management companies. In addition, we collaborate closely with our Tax, Executive Compensation and Estates & Personal practices to align business and individual financial goals. We structure plans that minimize estate, gift and other taxes incurred by fund managers and business owners, as well as develop compensation arrangements between executives and employees including in the context of transition and succession planning. The practice takes a comprehensive approach to advising clients on the complete range of governance, estate planning and compensation arrangements in connection with potential mergers and acquisitions, joint ventures and initial public offerings.
S&C also has significant expertise in the structuring and formation of hedge funds and private equity funds and has unique expertise in accessing the public market through the establishment of permanent capital vehicles. Our tax lawyers are experts in the many tax structures required by various U.S. tax exempt, non-U.S. and sovereign wealth investors to create the most tax efficient structure for all investors.