Private Investment Funds

Rimon advises sponsors of private investment funds across a wide spectrum of asset classes, investment strategies, and delivery vehicles, including:

Hedge funds that engage in long/short, global macro, event-driven, multi-strategy, market-neutral, relative-value, and commodities strategies
Private equity funds
Funds of funds and master-feeder funds
Venture capital funds
Leveraged buyout funds
Real estate funds
Charitable funds
Family office funds
Special purpose investment vehicles

We counsel private fund sponsors on structuring, operational, and distribution matters, including:

Conditions to the availability of exclusions from the 1940 Act
Application of ERISA’s plan assets regulation to various fund structures
ERISA issues related to seeding investment funds with employer 401(k) and IRA accounts
Negotiation of key service provider agreements, including advisory agreements, administration agreements, custody agreements, prime brokerage agreements, and placement agency agreements

We partner closely with local counsel in offshore jurisdictions to ensure efficient and well-coordinated new fund launches.

Our attorneys have worked on the following transactions:

Structured and documented a wide variety of hedge funds employing complex capitalization structures and profit allocations
Structured and documented a Cayman Islands-domiciled credit opportunities fund operating as an ERISA plan assets vehicle for a U.S. registered investment adviser
Launch of master-feeder and funds of funds that invest in underlying alternative investment funds across a wide range of hedge fund and private equity fund strategies
Pioneered use of Delaware Series LLCs to provide flexibility to multi-fund structures

Expertise