Evergreen Fund Structures in Private Markets: Formation, Operation, Strategic Advantages, Risk Allocation

Ms. Costantino represents venture capital and private equity fund managers with respect to private investment funds. Clients rely on her for advice and counsel on fund formation matters for onshore and offshore investment funds, operations and compliance, private equity investment transactions, venture capital investments, acquisitions, dispositions, joint ventures, and intra-partner dealings. She is particularly experienced in energy and natural resources, financial services, and health care services. Ms. Costantino routinely advises clients on Investment Advisers Act compliance programs, annual reviews, and ongoing compliance matters, as well as regulatory examinations and investigations. She also has significant experience representing financial institutions in a variety of regulatory matters. Ms. Costantino also represents domestic and foreign institutional investors and their advisors with investments across a wide range of industry sectors. She is experienced in fund structures, management and back office arrangements, and handles a variety of matters relating to ongoing operations of private investment funds.

Mr. Cassidy practices in the firm’s Investment Management Group. He primarily represents institutional, emerging and first-time managers of private investment funds, including hedge funds, private equity funds, credit funds, venture capital funds, and real estate funds, with respect to formation, fundraising, regulatory compliance, and other day-to-day legal and operational issues. He also represents wealth and investment advisors. In addition, Mr. Cassidy advises on a wide range of business combinations in the asset management industry.

Mr. Severs advises clients on transactional and regulatory matters, including the formation of privately offered investment funds; the formation, registration, and offering of publicly traded closed-end investment companies, business development companies, and exchange-traded funds. He also advises on the operation of commodity pools; public securities offerings (including IPOs); and compliance with the Investment Advisers Act of 1940, Investment Company Act of 1940, Commodity Exchange Act, Securities Act of 1933, and the Securities Exchange Act of 1934.