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    Home /  Lawyers /  Eric M. Diamond

    Eric M. Diamond

    Partner

    Eric M. Diamond Headshot Photo Portrait backdrop

    New York

    +1-212-558-4044

    |

    diamonde@sullcrom.com

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    Eric Diamond is a partner in the Firm’s Investment Management and Financial Services Groups. Mr. Diamond’s practice focuses on advising asset managers, banks, broker-dealers and other regulated financial institutions on a range of regulatory, compliance and transactional matters. He regularly provides advice to private equity fund, hedge fund, mutual fund and other investment management clients regarding regulation under the Investment Company Act and Investment Advisers Act, including in connection with significant SEC examination and enforcement matters.

    Mr. Diamond also regularly represents financial services clients on various strategic and transactional matters, including controlling and minority investments in asset management firms, investments in private equity funds, hedge funds and venture capital funds, selected fund formation matters, and public and private mergers, acquisitions and similar transactions.

    Government Service

    Prior to rejoining the Firm in 2020, Mr. Diamond was a senior advisor to SEC Chairman Jay Clayton from 2018 to 2020. In that role, he oversaw the rulemaking and other initiatives of the Division of Investment Management and advised the Chairman on certain investment adviser and broker-dealer enforcement matters. Among other things, he served in a leading role in completing the SEC’s rules and interpretations governing the standards of conduct for investment advisers and broker-dealers, including Regulation Best Interest, and coordinated the SEC’s Inter-Divisional Standards of Conduct Implementation Committee. He also led the SEC’s efforts to amend the interagency regulations implementing the Volcker Rule.

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    Experience

    Experience

    Investment Management

    • Regulatory, compliance and strategic advice to numerous investment management firms, including Addition, Apollo, Blue Owl, Canapi Ventures, DigitalBridge, Goldman Sachs Asset Management, Millennium, Tudor Investment Corporation, Two Sigma and others
    • Bank of America in connection with investments in multiple venture capital funds, small business investment companies and public welfare funds, including as part of its $1.25 billion commitment to advance racial equality and economic opportunity
    • Investment Company Institute as a member of its Outside Counsel Advisory Group

    • Managed Funds Association in connection with various advocacy efforts, including recent SEC and DOL rulemaking initiatives
    • Rockefeller Family Trust in connection with the acquisition of Rockefeller & Co. by Viking Global Investors and the formation of Rockefeller Capital Management
    • Truist Financial as anchor investor in connection with the formation of the Mission-Driven Bank Fund, a target $1 billion social impact investment fund established to support minority depository institutions (MDIs) and community development financial institutions (CDFIs)
    • Truist Ventures in connection with investments in multiple venture capital funds, including Canapi Ventures, Aperture Venture Capital and Zeal Capital Partners
    • U.S. Bancorp in connection with investments in multiple venture capital funds and small business investment companies
    • A confidential insurance company in connection with its seed arrangements and investments of up to $1 billion with a newly-established private equity firm
    • A confidential sovereign wealth fund in connection with multiple private equity fund investments

    Financial Services M&A

    • Ally Financial in its acquisition of TradeKing Group
    • Bank of New York Mellon in its sale of Alcentra to Franklin Templeton
    • Citizens Financial Group in its acquisition of JMP Group
    • DigitalBridge in its acquisition of AMP Capital’s global infrastructure equity investment management business
    • Genworth Financial, Inc. in the sale of its asset management businesses to a private equity consortium
    • Goldman Sachs in connection with multiple transactions, including its investment in FinanceIt
    • ING Groep N.V. in the $3.1 billion sale of ING Bank of Canada to The Bank of Nova Scotia
    • Moneris Solutions Corporation in connection with the sale of its U.S. subsidiary Moneris Solutions, Inc. to Vantiv, Inc.
    • Popular, Inc. in multiple transactions, including:
      • subsidiary Banco Popular de Puerto Rico’s acquisition of certain assets and liabilities related to Wells Fargo’s auto finance business in Puerto Rico
      • the sale of its operations in California, Illinois and central Florida, including 41 branches, approximately $1.8 billion in related loan portfolios, and approximately $2.1 billion in deposits, to three different buyers

    Recent Speaking Engagements

    Panelist – “Volcker Covered Funds: The Final Rule,” SIFMA (July 2020)

    Panelist – “Introduction to the New SEC Investment Adviser Marketing Rule,” Managed Funds Association (January 2021)

    Speaker – “SEC Proposal to Expand Proxy Vote Transparency: Implications for Market Participants” Council of Institutional Investors (December 2021)

    Recent Publications

    The Volcker Rule: New Exclusion for Qualifying Venture Capital Funds, The Review of Securities & Commodities Regulation (December 2021)

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    Rankings and Recognitions

    Rankings and Recognitions

    • Chambers USA – Investment Funds: Investor Representation (2023)
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    News

    News

    • S&C Advises Great-West Lifeco on Up To $1.8 Billion Sale of Putnam Investments

      June 6, 2023
    • S&C Advises DigitalBridge in $3.2 Billion Sale of Wellness Infrastructure Business

      March 18, 2022
    • S&C Advises on Minority-Focused Programs Aiming to Close the Wealth Gap

      July 7, 2021
    • S&C Advises SVB Financial Group in Acquisition of Boston Private

      February 3, 2021
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    Publications, Videos and Podcasts

    Publications, Videos and Podcasts

    • ESG Trends and Hot Topics

      Newsletters May 31, 2022
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    Credentials

    Credentials

    Education

    • New York University School of Law, J.D., 2010
    • Yale University, B.A., 2005

    Bar Admissions

    • New York
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    Related Practices

    Related Practices

    • General Practice
    • Bank Regulatory
    • Broker-Dealer
    • Digital Assets
    • Environmental, Social and Governance (ESG)
    • Financial Services
    • Financial Services Mergers & Acquisitions
    • Investment Management
    • Private Equity
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