DLA Piper LLP (US) advises both sponsors and institutional investors across the lifecycle of private funds, from formation and fundraising through ongoing governance, disclosure, and operational questions. The practice is co-led by Nicole Brennig in Austin and Jesse Criz in Chicago, alongside global co chairs John Cusack and David Parrish. The firm is sought out for its integrated regulatory support, with David Solander working closely with fund formation lawyers on advisor regulation, compliance planning, and interaction with regulators. The firm also supports a broad mix of strategies, including private equity, venture, real estate, infrastructure, and credit, with John Reiss active in credit focused structuring.
Legal 500 Editorial commentary
Accolades
Client satisfaction: Lawyer & team quality
Client satisfaction: Billing & efficiency
Testimonials
Collated independently by Legal 500 research team.
- ‘The team is led by a group of senior partners that have built an important network of client LPs globally. This broad coverage and focus on LP side work allows them a unique perspective among law firms. They take a principal/business minded approach to negotiations that allows for efficiency and effectiveness in their roles.'
- ‘David Parrish is not only the best LP-side attorney in the business, he is a principled, practical partner for all of his clients. I explicitly trust David and often find that he would be a great investor given his business perspective beyond the legal realm.'
- ‘The DLA team continues to go from strength to strength. They have a deep bench of partners and associates who are experts in their field. There hasn't been much turnover and the team continues to grow. You can tell that this space is really important to the DLA management as they are executing their strategy really well.'
- ‘John Reiss is a private credit expert and has built a great team around him. Brad Phipps is doing really well and has become a leader in the venture capital field. The team continues to grow and the associates are all easy to work with. The advice is always clear, concise and timely - just what we need.'
- ‘The DLA team has a vast knowledge of the fund formation space including thoughtful base docs and more importantly a wealth of market intel. They have great command of what market terms are and will advocate for their client but also be realistic so that a deal can get done. Their docs are innovative.'
- ‘Jesse Criz, Jeff Zanchelli and Zach Altman are a great team. I believe they have a significant amount of experience which allows for better docs, more efficient negotiation and a more seamless process. I would highly recommend them to anyone looking to form a new fund.'
Key clients
- Los Angeles County Employees Retirement Association
- California State Teachers' Retirement System [CalSTRS]
- Summation Capital Management LP
- Permanent Capital Ventures, LLC
- Hayfin Capital Management LLP
- Dental Innovation Alliance
- Renovus Capital Partners
- MC Credit Partners LP
- Cresset Partners
- Pioneer Fund Management Corp
Work highlights
Advised the Los Angeles County Employees Retirement Association (LACERA) in connection with the sale of a portfolio of 17 fund interests representing approximately US$1.5 billion in transaction value in a mosaic-solution secondary sale to three buying groups with a deferred purchase price.
Represented Hamilton Lane, a global investment manager providing private markets solutions with over US $940.3 billion of assets under management and supervisions, as lead fund formation counsel in connection with the formation, through final closing, of Hamilton Lane Venture Access Fund I.
Represented CalSTRS in the transition of a portfolio of investment vehicles to Sapphire Partners from Invesco and the establishment of a new relationship with Sapphire to invest in new and next-generation VC managers.
Practice head
Nicole Brennig; Jesse Criz; John Cusack; David Parrish
Other key lawyers
David Solander; John Reiss; Sara Stinnett; Brad Phipps; Jeff Zanchelli; Zach Altman