United States • Investment fund formation and management
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Alternative/hedge funds

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Sidley Austin LLP

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The team at Sidley Austin LLP regularly advises both start-up managers and large institutional advisers on all aspects of structuring and other formation issues. Boston based practice head Elizabeth Shea Fries advises a diverse range of clients including, investment managers, broker-dealers, and insurance companies on a broad range of transactions concerning business and investment structures, as well as the regulatory aspects of such transactions. Daniel Spies is based out of New York and advises both start-up level and institutional-level asset management firms on the formation and operation of hedge funds, digital assets funds, private equity funds; as well as hybrid funds. Based out of Chicago, Janelle Ibeling handles a range of alternative investment products, including domestic and offshore hedge funds, funds of funds and ‘access funds’.
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Testimonials

Collated independently by Legal 500 research team.

  • ‘Great team, with differentiated specialists, offering a coordinated approach to business issues.’

  • ‘They have a strong understanding of the current legal and regulatory issues facing hedge funds and they take the time to understand how we run our business and how these issues will impact us specifically.’

  • ‘Daniel Spies has become an invaluable partner to our firm. He deal with matters both pragmatically and efficiently. ’

  • ‘Sidley Austin has deep knowledge of the hedge fund space including regulatory matters, structuring matters, fund formation, contract negotiation and disclosure documents. They have industry leading partners and excellent associates and particularly adept at managing large, complex client relationships.'

  • ‘The alternatives/hedge funds practice is fantastic. Elizabeth Fries is our primary contact.’

  • ‘Elizabeth Fries is our primary contact. She is commercially savvy, offers practical pro-con analysis, and is direct and thoughtful in her advice to our firm.’

  • 'Female-led team with less ego and more team-based approach to problem solving. Top quality associates who carry the torch and are not afraid to provide leadership when necessary.'

Key clients

  • Aegeri Capital
  • Bridgewater Associates
  • Capstone Investment Advisers
  • Crestline Management
  • ExodusPoint Capital Management
  • Global Endowment Management
  • HighVista
  • Kawa Capital Management
  • Magnetar Capital
  • Marathon Asset Management

Work highlights

  • Advising Magnetar Capital on the launch of its private equity funds focusing on structured solutions transactions with financial institutions to manage their regulatory capital consumption and other regulatory and reporting metrics.
  • Representing Sequoia Capital Global Equities on a range of matters, including in connection with various portfolio matters.
  • Represented Totem Macro Asset Management on the formation of management companies and initial private funds focusing on global macro investing in both developed and emerging markets.

Lawyers

Practice head

Elizabeth Shea Fries

Other key lawyers

Daniel Spies; Janelle Ibeling