Shirley Cheng Hambelton
Shirley Cheng Hambelton is an associate in the hedge funds group who advises a variety of asset management clients. She has been involved in advising private fund advisers on issues including formation of management company structures and fund formation (including hedge funds, private equity funds, credit funds, hybrid funds incorporating characteristics of both open- and closed-end funds and other customized investment products), compliance matters and operational issues facing private funds managers. Shirley has also recently provided advice to various financial technology companies on the legal and operational issues relating to the launch of a private fund access platform.
Shirley’s advice to fund managers has covered the drafting of fund agreements and offering documents, facilitating strategic investments by seed investors in newly-established funds, negotiating with administrators and other service providers to funds, investor relations, fund restructurings, and wind-downs.
Shirley has advised numerous U.S. and foreign investment managers regarding the U.S. investment adviser regulatory regime, and has assisted numerous advisers with registering as an investment adviser or reporting as an exempt reporting adviser and adopting and administering compliance policies and procedures.
- Advising leading U.S. financial institutions’ wealth management businesses in the formation of single-investor and aggregation vehicles to allow U.S. high net worth clients to invest in third-party hedge funds, private equity funds and other investment products. Assisting such clients in their negotiations with various counterparties.
- Advised an emerging FinTech company on building a fund access platform.
- Advising credit managers with more than $10 billion in AUM on fund raising, structuring and launch of various fund and separate account products, including launching and negotiating with investors for direct lending/senior secured products, risk retention compliant structures, and structuring hybrid fund structures and fee terms.
- Advising numerous hedge fund and private equity fund managers in SEC registration and ongoing compliance and regulatory issues, including advising on compliance policies and procedures, marketing and advertising rules and other day-to-day compliance issues unique to private fund managers.