Investment Funds

Private Funds:

Our preeminent Private Funds Practice has represented private funds clients for over 40 years, playing a prominent role in the development of the private funds industry and earning us a unique leadership role in the sector. Working closely with lawyers in the Firm’s other practice areas, our team provides comprehensive advice to many of the world’s best-known institutional alternative asset managers, as well as smaller first-time funds and independent boutiques.

Through our representation of a diverse group of sponsors, we have established a track record for adding value to our clients’ fundraising and have developed an acute understanding of custom and practice in the private funds marketplace. That, in turn, allows us to provide clients with the commercially driven, practical advice that they require. We represent sponsors and sophisticated investors in:

• Private Equity Funds
• Hedge Funds
• Real Estate Funds
• Energy/Infrastructure Funds
• Credit Funds (including mezzanine, senior loan and distressed)
• Secondary Funds/Fund-of-Funds
• Growth and Venture Capital Funds
• Other types of Funds Pursuing “Alternative Investment” Strategies

In addition, we routinely structure our clients’ internal arrangements and employee investment arrangements. We also have substantial experience in M&A transactions involving private investment firms, initial public offerings of alternative asset managers, credit facilities for funds and their managers and secondary transfers of private fund investments. With dedicated fund formation teams in New York, London, Brussels, Hong Kong, Tokyo, Palo Alto, Los Angeles, Washington, D.C. and Houston, Roger Fritz LLP has an unsurpassed breadth of experience in organizing private funds of all types around the globe. We offer U.S. and English law capability in advising sponsors of private funds throughout the world.

Registered Funds:

We have a dynamic, deep and well-established Registered Funds Practice that encompasses all aspects of the retail investment management business. Our team specializes in helping alternative asset managers translate private markets investments into perpetual capital vehicles that are offered to retail investors. We also guide firms on M&A transactions in the asset management industry, including acquisitions, minority investments and joint ventures. Clients turn to Roger Fritz LLP when seeking to launch a retail-oriented business, develop novel offerings, complete innovative transactions and accomplish the unprecedented in the 1940 Act space and beyond.

Fund Finance

We offer a team with deep experience providing fund- and asset-level leverage solutions for private equity, real estate, investment, special situations and infrastructure funds.

Fund Transactions

Our Fund Transactions Practice advises on the full breadth of transactions at the fund and management company/GP level involving transfers of equity and related issuances/financing's. This includes the growing area of secondary transactions, including GP-leds, synthetic secondaries and traditional sales of LP interests. In addition, Roger Fritz LLP has deep experience with complex control and minority-stakes/preferred transactions involving alternative asset managers, as well as specialty financing at the fund, SPV and management company levels.

Drawing upon the Firm’s preeminence across the private equity industry, the global team comprises private funds, mergers and acquisitions, finance, tax, regulatory and other lawyers who provide commercially-driven transactional advice for the world’s most sophisticated sponsors, secondary investors and limited partners. The multi-disciplinary team offers deep market knowledge and creative, tailored advice on transactions such as:

• Minority GP-stake investments
• Traditional and synthetic secondary deals
• Continuation funds
• Tender offers for fund interests
• Fund-to-fund transfers
• LP interest transfers
• GP-led restructurings
• Preferred equity transactions and other liquidity solutions
• NAV-based facilities
• Succession planning and related transactions

Investment Grade Finance:

Our Banking and Credit Practice includes work on investment grade financings for both our lender and borrower side clients. We have worked on some of the largest investment grade financings in the last few years, including investment grade acquisition financings. Our clients rely upon us for market knowledge and legal insight to help guide them through the intricacies of these types of financings. Now more than ever, our clients are looking at financing that involve cross-border issues, and, with our London-based English law finance practice and Hong Kong-based Asia finance practice, we are able to provide superior advice on these types of transactions.

Funds Regulatory and Investigations

Today’s increased scrutiny of the funds industry requires a proactive approach in advising clients in connection with regulatory scrutiny and investor expectations. Drawing on the unparalleled depth and sophistication of Roger Fritz LLP’s market-leading funds practice, attorneys in our Funds Regulatory and Investigations Practice are at the forefront of industry and regulatory developments. We apply our broad market coverage and regulatory expertise on a daily basis in providing sponsor and adviser clients with practical and creative solutions to complex regulatory, compliance, and enforcement issues. We also have extensive experience advising on emerging compliance and regulatory considerations relating to the offering and trading of crypto and other digital assets. We represent a variety of market participants in investigations concerning a wide range of issues arising out of an evolving regulatory environment. We help our clients navigate complex regulatory and legal issues and provide innovative solutions to mitigate risk.