Sarah Davidoff is a partner in the firm’s asset management practice and a co-head of Ropes & Gray’s Client Program. The world’s largest and most well-known alternative asset managers turn to Sarah for guidance on issues relating to the formation, structure and operation of their funds and firms. Sarah is noted in Chambers USA as “very creative” and “commercially focused” with “strong knowledge of the alternative-hedge fund market” and a “keen sense of business.” She has particular expertise with spinouts, reorganizations, asset management M&A transactions, seed arrangements, high net worth access products, structuring internal compensation programs, designing bespoke and hybrid investment vehicles, and launching innovative fund products. Sarah regularly advises clients at the forefront of the constantly evolving regulatory and compliance landscape, is a frequent speaker at conferences, forums and other seminars in the private funds industry, and has contributed to a number of well-known legal publications.
Sarah represents some of the world’s most prominent alternative asset managers including: The Carlyle Group, Dragoneer Investment Group, Cowen Group Inc./Ramius LLC, several boutiques within BNY, and a number of asset management units within a Swiss bank, among many others. Sarah’s recent significant matters include:
- Representing Samantha Greenberg in the formation and launch of Margate Capital, a management company with a global long/short equity strategy.
- Advising Dragoneer Investment Group in its day-to-day operations and its co-investment transactions, including in its participation in a funding deal to music-streaming site, Spotify AB.
- Representing a $9 billion asset management firm in a wide range of matters including: guiding its regulatory initiatives, seed investments, asset management M&A transactions, and completing a large secondary sales process, among others.
- Advising one of the world’s largest asset managers, with more than $1.5 trillion in assets under management, on various regulatory issues, including the Volcker Rule and AIFMD, and ensuring their compliance policies are up-to-date.
- Acting as regulatory counsel to C-III Capital Partners in its acquisition of Resource America, Inc. and in day-to-day compliance matters.
- Designing more than sixty-five aggregation vehicles to allow U.S. high net worth clients of an institutional sponsor to invest in large and well-known hedge funds, real estate funds and private equity funds.
- Representing the seed investors of one of the first hedge funds to invest in a digital currency on all aspects of the fund’s formation and launch, including structuring the fund to address a range of complex and unique tax, regulatory, licensing and other legal issues.
- Advising a global alternative asset manager with $178 billion of assets under management on the formation and launch of several fund of private equity funds targeting high net worth individuals.
- Quoted, “Fees, Conflicts, Investment Allocations and Other Hot Topics Hedge Fund Managers Should Expect During an SEC Examination (Part Two of Two),” The Hedge Fund Law Report (June 30, 2016)
- Quoted, “What Hedge Fund Managers Need to Know About Getting Through an SEC Examination (Part One of Two),” The Hedge Fund Law Report (June 16, 2016)
- Co-author, Sweet & Maxwell, “International Series Investment Funds,” Thomson Reuters, 3rd Edition (March 2016)
- Quoted, “5 Firms Make It Back Onto GCs' Most Adored List,” Law360 (December 9, 2015)
- Co-author, Sweet & Maxwell, “International Series Investment Funds,” (Thomson Reuters) 3rd Edition
- Co-author, PLC Investment Funds Handbook – United States, Country Q&A (2015)
- Quoted, “Ropes & Gray Attorneys Discuss the Impact on Private Fund Managers of Final Regulations Under the Volcker Rule,” The Hedge Fund Law Report (March 13, 2014)
- “U.S. Chapter: Q&A Guide to Investment Funds Law,” PLC’s Investment Funds Handbook (February 2014)
- “U.S. Chapter: Investment Funds Jurisdictional Comparisons,” The European Lawyer Reference (September 2013)
- “U.S. Chapter: Q&A Guide to Investment Funds Law,” PLC’s Investment Funds Handbook (January 2013)
- Co-author “U.S. Chapter: Investment Funds Jurisdictional Comparisons," The European Lawyer Reference (2012)
- “U.S. Chapter: Q&A Guide to Investment Funds Law,”PLC’s Investment Funds Handbook (January 2012)
- “U.S. Chapter: Q&A Guide to Investment Funds Law,” PLC’s Investment Funds Handbook (January 2011)
- “Structuring Hedge Funds: An Overview of Business, Legal and Regulatory Considerations for Managers,” Evaluating and Implementing Hedge Fund Strategies (Euromoney Books, 3rd ed.) (December 2003)
- Speaker, “Launching & Running a Cryptocurrency Fund,” CoinAlts Fund Symposium (April 19, 2018)
- Speaker, “Funds in Crisis: When the Regulator Calls,” Maples Investment Funds Forum (February 23, 2017)
- Panelist, “A View From Washington”, SIFMA Private Funds Roundtable (February 8, 2017)
- Moderator, “3 CCOs and a Prosecutor: The Next Frontier In Implementing, Managing And Reacting To The Demands Of Operating An Effective Compliance Program,” GAIMOps Cayman (March 6, 2016)
- Speaker, “Dodd-Frank, AML, FATCA, and AIFMD: Regulatory and Compliance Challenges and Their Impact on Operations and Investor Relations,” Operations for Alternatives 2016 Conference (February 1, 2016)
- Speaker, “Hybrid Funds,” IBA’s 16th Annual International Conference on Private Investment Funds (March 2015)
- Moderator, “The Regulatory & Political Economy Panel: Dodd-Frank, Investment Advisors, Tax & Policy and Other New Legislation & Enforcement,” IMN 2nd Annual Real Estate General Counsel Forum (September 2012)
- Speaker, “Current terms: Hedge Funds,” IBA’s 13th Annual International Conference on Private Investment Funds (March 2012)
- Panelist, “Preparing for New and Anticipated Legislation and Regulation: Hedge Fund Adviser Registration, the Custody Rule and Beyond,” ACI's 6th National Advanced Forum on Regulation and Enforcement of Hedge Funds & Investment Advisers, New York, NY (June 2010)
- Speaker, “Structuring Onshore Versus Offshore Funds,” GAIM Ops Cayman (March 2010)
- Speaker, “Political, Legal, Regulatory and Tax Issues,” Maples Investment Funds Forum (February 2008)