Ms Elizabeth Lenas > Cleary Gottlieb Steen & Hamilton LLP > San Francisco, United States > Lawyer Profile
Cleary Gottlieb Steen & Hamilton LLP Offices

650 California St
Suite 2000
San Francisco
CALIFORNIA
94108
United States
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Ms Elizabeth Lenas

Position
Elizabeth (Liza) Lenas is the Leader of Cleary Gottlieb’s Global Private Funds Group, where she advises many of the world’s most sophisticated alternative asset managers on complex fund formation and investment strategies.
Her practice spans the full lifecycle of private funds, with deep experience in fund formation, co-investments, consortium transactions, large-scale acquisitions, spin-offs, joint ventures, shareholding arrangements, managed accounts, and other strategic transactions. Liza represents sponsors across asset classes—including private equity, credit, venture, impact, and growth—and has been at the forefront of developing some of the industry’s most innovative investment vehicles, including one of the largest evergreen funds ever raised.
She also counsels limited partners on their fund commitments and investments and has significant experience navigating clients through high-stakes disputes and sensitive investment-related controversies.
Liza’s clients include leading firms such as Sixth Street, KKR, Sequoia Capital, Hillhouse, TPG, and Cascade Asset Management Company.
A recognized leader in the private funds space, Liza serves on the Organizing Committee of the IBA’s Annual International Conference on Private Investment Funds and is a frequent speaker at major industry events, including those hosted by the Practising Law Institute, the Bar Association of the City of New York, the Maples Investment Funds Forum, and the Institutional Investor Legal Forum.
In addition to her client work, Liza is deeply committed to public service and serves as New York Co-Chair of Cleary Gottlieb’s U.S. Pro Bono Committee.
Career
Became partner, 2013, Leader of Global Private Funds Group and Co-Chair of U.S. Pro Bono Committee New York
Memberships
Member of the New York Bar
Organizing Committee and Speaker (2023-2025), IBA Annual International Conference on Private Investment Funds
Member, Co-Chair (2020-2021), Private Investment Fund Forum
Member (2011-2013), Committee on Private Investment Funds, Bar Association of the City of New York
Education
Ms. Lenas received a J.D. from Columbia Law School, where she was a James Kent Scholar, and a B.A. from New York University, where she was a University Scholar.
Lawyer Rankings
United States > Investment fund formation and management > Private equity funds (including venture capital)
(Leading partners)Cleary Gottlieb Steen & Hamilton advises a range of private funds, covering credit, real estate, infrastructure, real estate funds, social impact private funds and buyout funds. The group has a particular strength in life sciences and healthcare funds, as well as sustainable environmental funds. Such funds are among the workload often handled by Elizabeth Lenas who leads the team. Lenas works on key fundraises for the group’s largest clients such as fundraising for TAO Additional Commitments. The group’s deep bench also includes managing partner Michael Gerstenzang, a practitioner who is key for the group’s work on secondary transactions. Additionally, Adrian Leipsic‘s practice covers an array of private fund strategies. Jamal Fulton is key for the group’s feeder fund practice with large clients. Maurice Gindi has large alternative asset managers such as Blackstone among his varied client base, reflective of the wider group’s fund clients who include large global investors who invest in a number of jurisdictions globally. All named practitioners are based in New York.
Lawyer Rankings
- Leading partners United States > Investment fund formation and management > Private equity funds (including venture capital)
- Private equity funds (including venture capital) United States > Investment fund formation and management
Top Tier Firm Rankings
- Finance > Capital markets: debt offerings
- Finance > Capital markets: global offerings
- Antitrust > Cartel
- Antitrust > Civil litigation/class actions: defense
- M&A/corporate and commercial > Corporate governance
- Dispute resolution > E-discovery
- Labor and employment > Employee benefits, executive compensation and retirement plans: transactional
- Tax > Financial products
- Dispute resolution > Financial services litigation
- Finance > Financial services regulation
- Dispute resolution > International litigation
- Tax > International tax
- Finance > Project finance
- Energy > Energy transactions: electric power
- M&A/corporate and commercial > M&A: large deals ($1bn+)
- Antitrust > Merger control
- Real estate > Real estate finance
- Dispute resolution > Securities litigation: defense
- Finance > Structured finance: derivatives and structured products
- Tax > US taxes: non-contentious
Firm Rankings
- Finance > Capital markets: equity offerings
- Finance > Capital markets: high-yield debt offerings
- International trade and national security > CFIUS
- Finance > Commercial lending
- Intellectual property > Patents: licensing
- M&A/corporate and commercial > Private equity buyouts: large deals ($500m+)
- Investment fund formation and management > Private equity funds (including venture capital)
- Finance > Restructuring (including bankruptcy): corporate
- Finance > Structured finance: securitization
- Media, technology and telecoms > Cyber law (including data privacy and data protection)
- Energy > Energy transactions: electric power
- Energy > Energy transactions: oil and gas
- Finance > Fintech
- Dispute resolution > General commercial disputes
- Dispute resolution > International arbitration
- Dispute resolution > M&A litigation: defense
- M&A/corporate and commercial > Shareholder activism
- Media, technology and telecoms > Technology transactions
- Intellectual property > Copyright
- International trade and national security > Customs, export controls and economic sanctions
- Finance > Project finance
- Real estate > Real estate
- Labor and employment > Employee benefits, executive compensation and retirement plans: design
- Dispute resolution > Corporate investigations and white-collar criminal defense