Sadis & Goldberg LLP
Firm Overview
ABOUT SADIS
Focused sophisticated representation.
Sadismaintainsadiverse, business-orientedpractice focusedonprivate investmentfunds,assetand wealthmanagers,family offices,litigation,corporate, mergers&acquisitions,real estate,regulatoryand compliance,taxandERISA.
“Nolawfirmisbetterinthe hedgefundspace.Sadis doesn'tjustknowthelegal framework;theyareonthe cuttingedgeofdefiningit.”
-JOHNSTERLING Founder,SterlingFund Managers
ABOUT SADIS
Sadis&GoldbergLLPisaninternationallyrecognizedlawfirm.Drawingontheexperienceanddepth ofourlawyersinthesedistinctareas,weleverageeachlawyer'sindustry-specificknowledgetohelp ourclientssucceed.Thiscollaborativeapproachbringscollectiveinsighttothetablethatcontributes tosensible,efficientresolutions,andallowingustoremainattentivetothecostandtimesensitivities thatmaybeinvolved.Sadis'sclientsincludedomesticandinternationalentities,financialinstitutions, familyoffices,hedgefunds,privateequityfunds,venturecapitalfunds,buyoutfunds,commodity pools,andnumerousbusinessesoperatinginvariousindustriesaroundtheworld.
INDUSTRYINVOLVEMENT
1. PrivateFundsForum-industryleadersfromlawfirms,accountingfirms,thirdparty administrators,directorsandconsultantsgathertogetherfromacrosstheglobetoshareideas anddiscussdevelopmentsfacingthefinancialservicesindustry
2. SadisBusinessBreakfast-bringstogetherinvestors,founders,accountants,analysts,capital providers,andotherbusinessleaderstodiscusstrendingtopicsandnetwork
3. IndependentSponsors-networkingeventsforcapitalprovidersandindependentsponsors
4. FamilyOfficeLunches-executivesfromfamilyofficesnetworkingandsharingideasonmarket trendsacrossvariousindustries.
80+PrivateFunds
createdandlaunched
21Countriesinwhich wehaverepresented clients
165Awardsand Accoladessince2011 11Businessfocusedpractice teams
CORPORATE
Sadis&Goldberg’sCorporategrouprepresentsbusinessentitiesinallstagesofgrowth,from smallstartupsandemergingbusinessestolargeandlong-establishedbusinessentities.
OurattorneysactasongoingtransactionalcounselorsandresolvecomplexissuesintheUnited Statesandinternationally,inareassuchasmergersandacquisitions;activistinvesting; derivatives;privateequityandventurecapital;securitiesregulation;PIPEtransactions;banking andfinance;andcapitalmarkets.Thebroadnatureoftheserviceswerenderreflectsthewide scopeofourclients’needsandthemanyandvariedindustriesinwhichtheyoperate.Attorney teamsdrawnfromthefirm’srelatedlegalareascollaboratetoprovidetheexperienceneeded foreachofthesetransactions,includingcounselonissuesrelatedtotax,realestate,labor, ERISA,litigationandintellectualproperty,astheclient’scircumstancesrequire.
Paul Marino
Robert Cromwell PARTNER
FINANCIAL SERVICES AND
FAMILY OFFICES
SadisisknownforitsFinancialServicespractice.Ourseasonedattorneysfocusonservingclients intheinvestmentmanagementindustrywitheveryissuetheymightface,includingtheformation ofprivatefundsandstructuresofmanagemententities,regulatoryandcomplianceguidance includingregistrationofinvestmentadvisers.commoditypooloperatorsandbroker-dealers,as wellasmockreviews,funddistributionsarrangements,mergersandrestructuring,securities, enforcementandlitigation.Thegrouphasexperienceinrepresentingsponsors,assetmanagers, institutionalinvestorsandfamilyofficesinconnectionwithprivateinvestmentvehicles,including hedgefunds,privateequityfunds,alternativefinancefunds(e.g.hardmoneylendingfunds, asset-backedlendingfunds,litigationfinance),venturecapitalfunds,realestateinvestment vehicles,cryptoanddigitalpaymentsfunds,andcommoditypoolsanddirectprivatetransactions.
212.573.8029 ybraunstein@sadis.com
212.573.6660 rgeffner@sadis.com
212.573.8025 pfasciano@sadis.com
REGULATORY & COMPLIANCE
WEADVISEINVESTMENTADVISERS,FUNDSANDBROKER-DEALERSONTHE U.S. REGULATORYASPECTSOFTHEIRBUSINESS,INCLUDINGTHEFOLLOWING:
o Securities Exchange Act of 1934. We advise clients on broker-dealer laws applicable to their selling activities and regularly negotiate private placement and distribution agreements with selling agents. We also advise broker-dealers engaged in wealth management businesses on compliance program design and regulatory matters. Our regulatory advice covers all aspects of broker-dealer laws, including FINRA rules and regulations, including qualifications and licensing of associated persons.
o Securities Act of 1933. We provide drafting and advice on compliance program requirements for advisers and broker-dealers who engage in private placements, and review of the basis for the private offering to the investor and that the fund including filing Form D with the SEC on behalf of the private offerings to avail themselves of the private securities offering safe harbor under Rule 506(b) or Rule 506(c). We also regularly manage State blue sky filings for our private fund adviser clients
o Investment Advisers Act of 1940 (“Advisers Act”). Together with fund management we support advisers to private funds and registered investment companies on compliance and regulatory needs, review applicable exemptions that may be available to clients under the Advisers Act, including the foreign private advisers exemption, venture capital exemption and private fund advisers exemption. In addition, we handle all regulatory filings with the SEC, including any “exemptreportingadviser”filingsandfullregistrationswiththeSEC,aswellasthedraftingofCodes of Ethics and Compliance Manuals and we also provide advice on the implementation and ongoingmaintenanceoftheprogram.
o Investment Company Act of 1940 (“Company Act”). We provide drafting and advice on the design of compliance programs needed for investment companies registered under the Company Act, as well as advice concerning techniques for the implementation and ongoing administration of thesame.IntheeventprivatefundsareformedinordertoconductaU.S.offering,wewouldadvise ontheregulatoryexemptionsavailabletosuchfundsundertheInvestmentCompanyAct,including the 3(c)(1), 3(c)(5) and 3(c)(7) exemptions, as well as investor due diligence obligations imposed on themanagertodemonstratecompliance.
REGULATORY & COMPLIANCE
o Commodity Exchange Act Regulation. We provide drafting and advice on the design of compliance programs needed for commodity pool operators and commodity trading advisers required to be registered under the Commodities Exchange Act (“CEA”) with the National Futures Association ("NFA”), as well as advice concerning techniques for the implementation and ongoing administration of the same. In addition, we advise on the availability of any exemptions to registration or filing obligations under the CEA (applicable to commodities, currencies, and swaps), including any commodity pool operator (CPO) and commodity trading adviser (CTA) filings. A broad exemption from registration exists for low levels of activities in these instruments, and standard exemptionsexistforofferingsinprivatefunds.
o Employee Retirement Income Security Act (“ERISA”). For offers of securities or advisory services to pension plans or other investors whose assets constitute plan assets under U.S. law, we would adviseontheobligationsimposedunderERISAandtheguidelinesthatthefundsoradvisersshould followinrespectofERISAinvestorsorclientstoensurethatsuchadvisersorfundsdonotbecomea fiduciary of any ERISA plan investor, or are prepared to comply with ERISA and the DOL and IRS regulationsthatmayapply.
o Examination and Enforcement Support; Mock Audits. We provide support to advisers and funds, or broker-dealers when they undergo examination by the SEC, FINRA, CFTC, NFA or State securities regulators. We regularly conduct SEC & FINRA mock audits and focused compliance reviews on behalf of our clients. Led by a former Chief Compliance Officer with nearly 30 years of experience in managing regulatory examinations and relationships, these reviews and audits encompass a review of compliance policies and procedures that are required to be maintained by a client under federal and state securities and commodities laws and regulations. Together with the firm’slitigationteam,wealsosupportourclientswhentheyarerequiredtorespondto enforcement inquiries from the regulators. Our team leverages its multidisciplinary expertise to provide insight intobestpracticesfromacompliance,enforcement,andbusinessperspective.
David Fitzgerald PARTNER
Weregularlyrepresentinvestmentmanagers,investors,serviceproviders,directors,liquidators, receiversandbusinessownersinawiderangeofdisputesandregulatoryproceedingssuchas thirdpartyadministrators.Whatsetsusapartfromourcompetitionisourdeepunderstanding ofourpracticeareasandourwillingnesstohandlecasesonacontingencybasisoralternative feestructure.Webelievethatwecanbestserveourclientsbypartneringwiththemthrough theuseofacreativefeestructureandthenintenselyfocusonachievinganoutstandingresult.
TAX & ERISA
Ourtaxgrouphasextensiveexperienceandcomprehensiveperspectiveinfederal,state, localandinternationaltaxmatters,includingplanningandstrategyadvisementaswellasin taxdisputeresolution.Weprovideindividualandcorporateclients,financialandinvestment vehiclesandexecutivecompensationplanswithdesignstructurestailoredtotheirdistinct needsandcircumstances.
FIRM HISTORY
551FifthAvenue,21stFloor
A HISTORY OF FOCUSING ON BUSINESS-DRIVEN
Sadis&GoldbergLLPwasfoundedin1997byseveralprominentlawyerscommittedtoexcellencein thepracticeoflawanddevotedtodevelopingstrongclientrelationships.Theoutstandingtalentof itslawyersandtheintimacyoftheirrelationshipswiththeclientsisstilltheheartofthefirm.The seniorleadershipiscomprisedofformerSECenforcementlawyersandseasonedprofessionalswho startedtheircareersinmajorlawfirms.Allhavevastlevelsoftrainingandproventrackrecordsof professionalism,skillanddiligence.
• Recovered+$120Mforclientssince2019
• Prequin-Ranked#3forLawFirmsServicingHedgeFundsintheUS
• Prequin-Ranked#7forLawFirmsServicingHedgeFundsWorldwide
• 1000+PrivateFundsCreatedandLaunched