‘Morgan Lewis, and Bockius is hands-down the exceptional firm in the asset management/investment funds space. Every partner and associate I deal with has deep expertise, excellent communication, is creative and collaborative, and are generally just nice people I enjoy working with. I often ask for subject matter experts to work with and am always happy with the depth of knowledge among their partners and associates.’

‘Tim Levin is an invaluable resource with exceptionally deep and broad knowledge across the space and an uncanny ability to whittle a complicated issue down to easy to digest pieces of information. Absolutely could not do my GC job without him.’

‘Rob Goldbaum and Nathan Pusey on the M&A side are unquestionable leaders in the space; incredibly creative with solutions.’

‘Sarah Bouchard is my go-to for employment law – incredibly smart, has a practical approach to solutions and risk.’

‘The team’s strengths revolve around their intellectual prowess in solving issues and their ability to identify related issues.’

‘The partner(s) we primarily work with are exceedingly calm and thoughtful in providing timely responses to our issues. Michael Doherty is a stand-out partner based on my more than 30 years in the investment management industry.’

‘Bryan Chegwidden is the finest outside counsel with whom I’ve worked in over twenty years. He has relevant knowledge — both broad and deep — of the industry, of industry practices, of regulatory agendas and activities. He is a superb, efficient communicator. Able to disagree without being disagreeable, his advice is always constructive. He informs and educates effectively, whether working with inside counsel, other outside counsel, or our board.’

‘Prufesh Modhera is extraordinary. What makes him stand out is his clarity of legal expertise and advice that is unwavering. When he does not know, he accesses the right expertise effectively and efficiently. He goes the extra mile to meet tight deadlines and provide insight from experience. He has a unique ability and willingness to see issues from a client perspective and problem-solve with me, while at the same time maintaining a clear stance on the issue from a legal perspective. I can’t imagine having a better legal advisor.’

‘Chris Zimmerman has also been extremely persistent and diligent in helping with regulatory filings. His attention to detail provides high quality service that we value and can count on.‘

‘Prufesh Modhera is our primary partner. Prufesh has an extraordinary career representing registered and unregistered products. Importantly, Prufesh practices in D.C. and therefore is connected to numerous regulators and is able to help navigate regulatory uncertainty.’

‘The firm overall is extremely competitive with billing practices. We have adjusted our billing arrangements over the years to take advantage of our current needs, and Stradley has been accommodating to meet our needs.‘

‘What stands out with Stradley Ronon overall is the depth and breadth of experience across the firm coupled with specialization in our industry. I also think they do a great job of coordination across the firm. I appreciate that I always have an industry specialist involved to help navigate and answer questions even if the matter is referred to a generalist with specific expertise. They are great communicators who will actually collaborate and advise. All associates are very clear about specific rules and when there is interpretation. Everyone I have ever encountered has been knowledgeable and easy to work with at Stradley Ronon.’

‘The firm has extensive knowledge on investment management, from registered to unregistered products. They provide expertise on collateral areas as well, including tax and ERISA. There is quite a bit of depth in their practice group, which enables them to handle large-scale projects. They are connected to regulators and have numerous former regulators in their firm.‘

‘Stradley are strong experts in the areas they serve. We have a sophisticated private funds platform and they have helped up structure and grow our platform since 2012. Top of the line client service, response and turn around times.‘

‘Highly responsive and practical. Their years of experience, both from within the SEC and with funds, provides with a basis to propose thoughtful, regulatory-compliant, practical solutions to issues. Team members seem to be able to quote regulations and precedent-setting case law off the top of their head. No issue is too small or inconsequential.’

‘Robert Zutz, our primary counsel, responds to trustees’ questions in Board meetings professionally and respectfully. The entire Board trusts his opinion and advice without question. Zutz is also a good mentor to others in his firm, engaging them with the advisor and Board members so he has sufficient backup.‘

‘The breadth of the firm, K&L Gates, provides me as Board Chair confidence that they have the expertise to handle any situation that may arise.’

‘Robert Zutz’s his years of experience, calm and measured demeanor, practical, yet regulatory-compliant resolutions.’

‘Kathy Ingber has attention to detail, is an excellent minute writer, understands what is important, and is willing to work often behind the scenes.’

‘The K&L team servicing my fund board is extremely experienced and thoughtful. The primary partner, Ndenisarya Bregasi, assumed responsibility for the account prior to my tenure but what has been described to me by others, is that she basically showcased the vast experience of the entire K&L firm to the Board – something that they had not been aware of with the previous partners. I had been aware of the extensive breadth of K&L during my previous work experience and was thrilled that K&L had been selected to continue to serve as counsel to the Board.’

‘Each member of the team is extremely knowledgeable and has expertise in the investment management industry. In particular, as mentioned above, Ndenisarya Bregasi, is outstanding in her approach to managing the engagement and dealings with the Board members. Marguerite Laurent, also provides a depth of experience to the engagement.’

‘K&L Gates has a deep investment management practice.’

‘I have worked extensively with Mark Amorosi. He is very knowledgeable and a calming voice. His counsel is always based solidly in what is best for his client.’

‘Willkie has one of the best and deepest investment management practices in the industry. They have attorneys that can handle the full range of issues.’

‘Barry Barbash is the dean of the 1940 Act practice area. His wise counsel is always available, and he has more experience than almost anyone else practicising today.’

‘Anne Choe is an up and coming partner who is excellent. She has exceptional client service skills.’

‘The Willkie team has significant experience, which would serve any client well, but most particularly in specialized problem solving and with regulatory matters (exams, exemptive relief, trending issues). The partners offer wide-ranging legal advice, all balanced by current industry practice and an ability to understand to their clients’ businesses. The practice has become particularly strong with regards to investment advisory and broker-dealer issues, in particular, Reg. BI.’

‘We have worked primarily with Barry Barbash and Anne Choe. Anne has an incredible understanding of investment management regulation, especially as it pertains to investment advisers, and brings both significant experience and excellent industry understanding to the issues. She continues to build her relationship with us and our business and we highly value her advice, responsiveness and understanding of our business. Barry’s experience as head of the Division of Investment Management shines particularly in developing areas of regulatory practice, but he is just as capable in giving day-to-day legal advice with a deep understanding of the business operations. In addition, Neesa Sood, counsel, continues to stand out in her understanding of investment company regulations and industry practices.’

‘We have complete access to the Wilkie Farr team at all times. Besides their overall knowledge of the complexities revolving around securities laws, they are thinking all the time on how to help the client. They are not afraid to talk about tough and complex topics.’

‘Jay Spinola is the partner at Wilkie Farr that we work with. He is an outstanding representative for his firm. He is level headed, knowledgeable about all facets of our industry and goes beyond the basics and helps to guide us into new areas that are always arising. We are very fortunate to have him as our attorney.’

‘Goodwin has a deep investment management practice, working with a wide variety of clients, which enables them to tap into that expertise as it relates to our fund complex. I also appreciate the collaborative approach Goodwin emphasizes. They interact extremely well with Management, external fund counsel and in house counsel. This is important — even though Goodwin must maintain its  “independence”, the spirit of collaboration and professionalism is critical. I get the real sense that Goodwin really focuses on bringing the best of their entire firm together to focus on a particular client. There are no “lone rangers”.’

‘Marco Adelfio is the Partner in charge of our account. Marco’s expertise has been invaluable as we navigate the nuances of the rules and the responses to our requests for information. I also use Marco as a sounding board for items the Board may address in future meetings. He is extremely responsive, and very thoughtful and pragmatic in his approach. Working closely with Marco is Nicole Griffin, Counsel, also based in Washington. Like Marco, Nicole has become a trusted confidant of the independent trustees. She also has done an excellent job assisting the Board in the annual self-assessment process, spending significant time with each trustee and reporting back to the Board with observations and practical recommendations. She is a very effective communicator.’

‘Paul Delligatti has strong industry knowledge; good overall counsel on difficult topics; proactive on providing valuable insights to our needs.’

‘Goodwin’s team’s collaborative approach to staffing has ben distinctive. We have full access to two partners, both of whom are fully engaged and take in a shared approach to the relationship. They keep each other well informed and discuss projects with one another in a way that enhances our advice and counsel. They take the same approach across their practice group, including open and ongoing dialogue among litigators and business lawyers. They have direct access to litigators with extensive directly relevant experience which enhances the ability to provide advice and counsel.’

‘Marco Adelfio, Paul Delligatti, Nicole Griffin, Mac Laban in each case, see comments above concerning the services these individuals provide.’

‘We use Goodwin in an independent counsel capacity. Our partner and his team are always well prepared, thorough and able to provide the board with succinct advice and counsel.’

‘Marco Adelphio is meticulous in his preparation and well prepared for all our meetings. In addition, he is accessible and responsive to requests while also balancing a refined ability to push back on ideas or direction the Board might consider pursuing. The key element here is his perspective is always based in fact and his depth of experience provides a credibility to his comments that is respected by all Directors.’

‘Paul Delligatti and associate MacCary Laban work very well together, very well with my Board of Directors and with management. We get great support. As a small firm, we particularly appreciate their insights and deep experience in the field.’

‘Extensive registered funds experience, as well as years of asset management legal regulatory advice that is always useful and practical.’

‘Marco stands out because of his breadth of experience and knowledge as well as constructive and friendly demeanor. Nicole Griffin is able to analyze legal and regulatory developments and gives useful guidance to our board on how to fulfill our obligations and is helpful in providing examples of how other clients are reacting to developments in our field.’

‘The team has a strong grasp on the mutual fund industry from both an advisor and SEC point of view. They are frequently asked to present at industry events (both in person and webinar meetings) which helps them have a broad sampling of what industry participants are thinking / doing.’

‘I have met no one in the legal profession that understands the mutual fund business better than Chris Palmer. Chris has a rare combination of a deep technical understanding of the industry/issues along with the ability to explain/discuss these issues in a non technical manner so everyone understands the issues. He also listens very well, has perfect timing on when to be quiet and when to help direct a board conversation, and conducts everything with a great sense of humor.’

‘The Investment Funds team at Goodwin Proctor is very deep. Their knowledge of investment law is quite extensive. This is supplemented by considerable knowledge and experience in all aspects of the Investment fund management business, including operations, auditing, and investment techniques and performance. One partner in particular, Chris Palmer, stands out as extremely knowledgeable and effective. His ability to communicate well with clients and to lucidly interpret the nuances of the law is outstanding. ’

‘From my perspective, the Goodwin team that supports our products is exceptional in its commitment and dedication. The partners we work with know our business, understand the history of our products and the decision-making behind them, and bring that practical knowledge as well as their legal expertise to bear when providing guidance.’

‘The individuals with whom I work the most are Marco Adelfio and Jason Monfort. My experience working with each of them has been excellent. During the first few weeks of the pandemic, we (like others in the industry) were inundated with novel and time sensitive issues. Although I can imagine there was a line of other clients from whom Marco was fielding calls, he made us feel like we were his only client. ’

‘Goodwin is a trusted partner, offering a wealth of knowledge, experience and expertise, as well as a keen business sense.’

‘Marco Adelfio is the lead partner in our engagement. Marco has developed a strong team, provides timely responses, and brings tremendous experience and expertise to each issue.’

‘David Hearth has comprehensive knowledge and hands on experience with all aspects of mutual fund management, oversight, regulations and industry trends. He combines this knowledge with a very professional and personable presentation; always makes himself available. He is a major asset to our board.’

‘This practice in Proskauer is exceptionally strong with many very talented and experienced partners and associates. They provide great advice and guidance to funds and directors and I highly recommend them.’

‘The individuals I work with have a willingness to go the extra mile to address questions I might have and the advice they have provided is always accurate and complete. Stuart Coleman, David Stephens and Robert Plaze are superb.’

‘The team is deep and has been together for many years, and they are highly respected as leaders by their colleagues. The primary lawyers we have worked with during the period, and for many years prior, are David Stephens and Nicole Runyon.’

‘David Blass is a well-rounded lawyer that gives excellent business advise combined with strong legal foundation.’

‘Through Simpson we have been able to advance the flexibility the SEC is willing to give as it relates to co-investment.‘

‘Chris Healey has an unparalleled knowledge with respect to the 40 Act.‘

‘Vedder Price is the leading firm in our industry niche.’

‘Renee Hardt is responsive, knowledgeable and a pleasure to work with.’

‘The team exhibits knowledge, client commitment, interpersonal skills, and work ethic.’

‘Maureen Miller, the lead attorney we work with, is outstanding. She has both industry expertise as well as institutional knowledge of our Board and mutual funds. Her work ethic is second to none and she is always available to engage with Trustees.’

‘Cathy O’Kelly and John Marten are experienced and have excellent judgement and communication skills, top drawer in every respect!’

‘Cathy O’Kelly and John Marten, both excellent lawyers, diligent, skilled, detail oriented as necessary, great judgement, highly recommended.’

‘Our experience in working with John and Jacob has been very positive. They are knowledgeable in both their areas of expertise as well as other aspects of legal issues that we are challenged with. They are well rounded in their backgrounds and their views, and approach issues with an open mind focused on finding the best result given the various perspectives of all concerned parties. They are both accessible and have the foresight and relationships to include other members of Vedders Investment Services team on issues that may require more focused expertise. Both John and Jacob have invested their time in understanding our organization.’

‘John is a strong relationship attorney and has done well at establishing credibility with the Advisers outside and inside General Counsel. He has a diverse background of serving various investment services clients and brings that background to bear in our situation. His views are balanced and we view his judgment as sound.’

‘Jacob is also strong with regard to relationships and his focus on detailed and complex issues have continued to stand out. He also has a diverse background and good business judgment. He is able to view legal issues from the perspective of his client while remaining balanced in his judgment.’

‘John and Jacob work well together and form a strong team in their responsibilities of representing the Independent Directors.’

‘Marguerite Bateman provides consistent, thoughtful and well-reasoned advice based on her years in the industry. She deftly liaises between the boards and the advisor to solve issues.’

‘Smaller but highly qualified group that work cooperatively to provide actionable advice to their clients.’

‘In addition to excellent legal service, both John S. Marten and Renee Hardt are invested in the success of the Board and fund group. They care about the trustees and are responsive to all requests for advice and counsel.’

‘Deep expertise and team stability leading to a pool of knowledge with direct relevance to our work.’

‘Maureen Miller has such strong mental retention on historical discussions and decisions she adds great value to our current discussions with her contextual adds.’

‘This firm has experience with many mutual funds groups across the country. This broad experience informs their advice.’

‘Cathy O’Kelly is a super lawyer who knows how to frame an issue for a board that promotes good discussion and decisions. Jacob Tiedt is a thorough and careful associate well versed in important topics of compliance and contract renewal.’

‘Cathy O’Kelly and Jacob Tiedt are the lawyers I deal with in my duties as independent trustee. Cathy is our main counsel and does a extraordinary job in providing ’40 Act guidance and industry expertise. Jacob also does an incredible job and is a key advisor in for the Operations and 15(c) Committees which I am a member. During this past year Jacob assisted the 15(c) Committee in continuing to improve materials and calendarization of our processes. It was a successful process. In addition, both Cathy and Jacob were hugely helpful in teasing out a systemic and executional issue.’

‘First and foremost would be the amount of experienced lawyers at Vedder in the asset management industry. This is beneficial to their clients, associates and even tenured lawyers. Additionally, the breath and depth they have across various aspects of .’

‘Maureen Miller has provided outstanding counsel to our board. Rarely, if ever, has she not been able to answer a director.’

‘A proactive team, providing excellent forward looking knowledge to guide board member decision making. Quite capable depth of staff.’

‘Paul Schreiber is exceptional in providing advice especially to closed-end funds and entities that need an opinion that they are not an investment company.’

‘Paul Schreiber is a very experienced and talented attorney.’

‘A ton of experience and wisdom. Importantly, a great balance of legal expertise and practical business approach. ’

‘Paul Schreiber is incredibly, consistently demonstrating wisdom and expertise.’

‘Thompson Hine has a strong securities practice for a regional firm, with experience across registered, private and hedge funds and ETFs. They have been opportunistic in bringing on board talent to expand the team’s capabilities. They also provide terrific value to small and mid-sized asset management firms. As one example, when a client asset manager became enmeshed in a major bankruptcy case involving a security purchased years ago Thompson Hine brought in bankruptcy expertise that resolved the matter for the manager at a very reasonable cost.’

‘I now work primarily with Cassandra Borchers. Cassandra is a great collaborator, helping us and our clients achieve appropriate outcomes while meeting regulatory and board requirements. When necessary Cassandra has brought in Bibb Strench to assist on ETF matters, and Bibb brings extensive knowledge and experience to our clients. Both Cassandra and Bibb often have necessary answers at their finger-tips, eliminating the need for the extensive (and costly) research we sometimes see larger firms use as a means of training junior associates.’