Legal Advisory and Counsel
- Winding down an $8 billion hedge fund, assuming responsibility for:
- high profile DOJ and SEC enforcement actions;
- all insurance and indemnification issues;
- overseeing fund audits and forensic accounting;
- evaluating the merits of potential causes of action and leverage points against relevant service providers and counterparties to recoup destroyed enterprise value;
- assuming the C-suite function and acting as a consigliere to the fund Founder.
- Retained by a London based hedge fund and high net worth family office to restructure the entire enterprise inclusive of dealing with registration, tax and off-shore entities, and related cross boarder issues. Also providing advice to this fund in connection with time sensitive trading issues and shareholder activism.
- "Rescued" a prominent Napa Valley Sommelier from a partnership coup d'état. Reconstituted and restructured his highly successful business and brand with financing from a multi-billion dollar family office. This successful extraction and business resurrection -- inclusive of dealing with legal, regulatory, commercial and reputational issues -- represents a novel approach as a "fixer" and match-maker that has proven to be dynamic and in strong demand.
- Retained by public technology company in connection with: 1) a Foreign Corrupt Practices Act "FCPA" investigation; 2) successful hedge fund activist defense campaign re: board composition; and 3) a complex patent infringement defense pending
- Successfully represented large hedge funds and individuals in connection with high profile SEC/DOJ inquiries and investigations.
- Advised hedge funds, general partnerships and family offices on a full range of operational, organizational and strategic matters; e.g., optimization of partnership/investment fund structures. Provided forward thinking and pragmatic advice re: regulatory and enterprise risk assessment and management; reputational matters and press relations; crisis prevention, mitigation and management.
- Retained by private equity and hedge funds to advise, e.g.; on seed investments and partnership structures; counterparty relationships; fund formation and documentation, product development, branding and investment terms.
Level Global Investors, L.P.
- Managed and coordinated all legal defense efforts on behalf of Level Global Investors, following a highly publicized and controversial FBI raid resulting in Level's voluntary decision to cease operations.
- Played an integral role in successfully winding down Level Global Investors Management Company and Fund Operations, including the orderly liquidation of all investment vehicles and the prompt return of capital to investor's.
- Prevailed in a critical insurance coverage case of first impression, XL Specialty Ins. Co. v. Level Global Investors, L.P., et. al., No. 12 Civ. 1598 (S.D.N.Y. June 13, 2012) in which U.S. District Court Judge Paul Engelmayer held that "irreparable harm" could result to the employees of Level Global Investors, if XL Specialty Insurance did not keep paying Level's legal fees. The decision freed up $25 million which played a key role in Level's successful defense.
- Supported the defense efforts of Level's co-founder, Anthony Chiasson, who was unjustly indicted and erroneously convicted, but was subsequently unanimously acquitted by the Second Circuit Court of Appeals in United States v. Newman, 773 F.3d 438 (2d Cir. 2014), a landmark decision with national implications, clarifying the law of insider trading.
- Oversaw all aspects of the launch of Radar, a specialized sector fund; developed internal allocation and related trading and investment policies/procedures which enabled Level Global to scale to a multi-product platform.
- Orchestrated the sale of a minority ownership interest in Level Global Investor's Management Company to Goldman Sachs’ Petershill Fund. Negotiated the deal terms and resolved complex tax, control, information rights and revenue sharing issues. The transaction valued Level Global at more than $600 million.
- Filed several patent applications for Level Global's proprietary technology platform, IDEA 2.0; appeared multiple times before the U.S. Patent and Trademark Office.
- Managed relationships with the Funds’ independent board of directors. Presided over annual and ad hoc board meetings.
- Created proprietary trading desk protocols inclusive of secondary offerings, short sales, privately placed securities and SPACS. Advised portfolio managers on concerted and activist shareholder activity in domestic and foreign markets.
- Spearheaded product development conversations re: investment guidelines, fees, terms, liquidity, transparency, and other key considerations. Edited and approved quarterly investor letters.
- Took a leading role in developing the broker dealer industry's joint defense strategy to defend against New York Attorney General Elliot Spitzer's allegations of market manipulation (e.g. "tie-in sales," "spinning" and "laddering"). Authored a defense consortium white paper entitled An Overview of the Legal, Regulatory, and Industry Standards Applicable to Underwriting and Distribution of Initial Public Offerings.
- Counseled fund managers, product development and global sales teams in connection with the successful launch, distribution, and sale of AIG-sponsored private equity, real estate, mezzanine, and hedge fund-of-funds vehicles.
- Negotiated and structured AIG Investment Corp.'s balance sheet investments in hedge funds, limited partnerships, mezzanine financing, infrastructure, and private equity deals. Worked with portfolio managers to assess risk, maximize return on investment and effectuate profitable exit strategies.