Cleary Gottlieb Steen & Hamilton

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.

Became partner, 2013, Leader of Global Private Funds Group and Co-Chair of U.S. Pro Bono Committee New York

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

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.