Kirkland & Ellis LLP

Mutual/Registered/Exchange-Traded Funds

Nicole M. Runyan is an investment funds partner in the New York office of Kirkland & Ellis LLP, and heads the Firm’s registered funds practice. Nicole has over two decades of experience advising clients on the formation, registration, operation and oversight of nearly every type of registered fund as well as business development companies (BDCs).

Nicole has a broad background representing mutual funds, ETFs, listed closed-end funds and other traditional registered funds investing across a variety of asset classes and strategies, including: public and private U.S., developed and emerging market equities; private credit, structured credit, high-yield, preferred securities, directly originated and broadly syndicated loans and other income-producing strategies; real estate and infrastructure assets; and commodities and natural resource assets, including managed futures strategies.

She also commits significant time to counseling clients on the design and offering of alternative investment products, such as BDCs, funds of funds, interval funds and tender offer funds, that offer access for retail and high net worth investors to a variety of traditional “private market” asset classes, such as private credit and private equity, including on a primary, secondary, direct or co-investment basis.

Additionally, Nicole advises clients on the full range of issues facing registered funds, their independent directors and investment advisers. These include regulatory and compliance matters, SEC exemptive relief applications and compliance, trading and conflict issues, registration and disclosure matters, seed capital and other funding transactions, financing arrangements, and extraordinary events such as restructurings, acquisitions and activist matters.

Clients value Nicole’s practice advice and experience. Chambers USA reports that clients say she is an “incredibly strong and experienced funds lawyer” and is “thoughtful, thorough and of real value to us.”

Prior to joining Kirkland, Nicole was the Co-Chair of the Registered Funds practice at Proskauer Rose LLP, where she also served as a member of the Evaluation Committee and the Hiring Committee for the New York office.

The Association of the Bar of the City of New York, Investment Management Regulation Committee (2018–2022)

The American Bar Association

Executive Board Member, Women's Investment Management Forum

Boston University School of Law, J.D. cum laude

Wake Forest University, B.A., cum laude