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