Jessica Taylor O'Mary
Jessica O'Mary advises hedge fund and private equity advisers on all aspects of their business, from formation of management company structures and fund formation, to a wide range of compliance matters, operational and trading issues facing registered investment advisers, to business acquisitions, sales and wind-downs. Her clients include both investment advisers to hedge funds as well as private equity funds, separate accounts and funds of funds. Jessica has extensive experience advising credit managers in particular on a wide-range of issues, including formation of closed-end and open-end funds and separate account structures, as well as day to day regulatory, compliance and operational issues unique to debt fund managers.
In addition to specializing in fund formation, including complex “hybrid” fund products combining aspects of hedge fund and private equity fund structures, Jessica has extensive Advisers Act experience relevant to private fund managers. Jessica advises fund managers on Advisers Act compliance issues, including advertising and custody rules, information wall issues, conflicts of interest and personal trading requirements. She also negotiates service provider and other contractual arrangements for clients, including side letters with investors such as state and local plans and sovereign wealth funds, seed investor or “strategic” investor arrangements, employment arrangements, administrator contracts, and placement agent arrangements.
- Advising credit manager with more than $9 billion in AUM on fund raising, structuring and launch of multiple fund and separate account products, including launching and negotiating with investors for keystone credit opportunities fund platform, direct lending/senior secured products, Volcker compliant structures, insurance dedicated products, and structuring hybrid fund structures and fee terms.
- Representing fixed income manager with more than $32 billion in AUM on fund raising, structuring and launch of debt funds with multiple strategies and separate account structures.
- Advising name brand European based credit manager on fund raising and launch of credit fund with multiple currency sleeves and co-invest structures.
- Representing fixed income hedge fund manager with over $9 billion in AUM in range of securities trading, structuring and compliance issues and regulatory advice.
- Advising large US manager on fund raising of closed-end distressed debt and special situations fund.
- Advising credit and health care royalty manager on variety of new launch issues unique to earlier stage managers, including fund raising of targeted $1 billion closed-end fund, negotiation of partner compensation arrangements, investor negotiation and seed investor arrangements.
- Representing numerous fund managers on fund formations and ongoing day-to-day advice, including fund of funds managers and a number of managers with Asian, Africa and Middle East focused investment strategies.
- 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.
- Co-author, “Private debt funds: an introduction,” Thomson Reuters’ Practical Law (2018)
- Quoted, “Ropes & Gray Survey and Forum Consider Credit Fund Structures, Leverage, Conflicts of Interest and Challenging Environment (Part One of Two),” The Hedge Fund Law Report (July 19, 2018)
- Quoted, “Credit fund managers turn to opportunities in distressed debt,” Private Equity Wire (May 25, 2018)
- Quoted, “Ropes & Gray: Credit managers turn to distressed debt,” Opalesque (May 24, 2018)
- Quoted, “Kreutzer’s Take: LPs Favor Weatherproof Managers Ahead of Distressed Storm,” WSJ Pro Private Equity (May 23, 2018)
- Quoted, “Risk retention is dead: Long live risk retention funds,” Alt Credit Intelligence (March 19, 2018)
- Quoted, “Bain, Antares Join Rush to Bulk Up in Direct Lending,” FundFire (December 6, 2017)
- Co-author, “The Challenge of Credit,” Private Funds Management Yearbook 2017 (November 22, 2017)
- Quoted, “Direct Lending Managers Face Rough Road Ahead,” FundFire (October 25, 2017)
- Quoted, “Mid-market lending: Sizing up the opportunity,” Private Debt Investor (June 1, 2017)
- Quoted, “Hedge Funds As Direct Lenders: Regulatory Considerations of Direct Lending and a Review of Fund Investment Terms (Part Three of Three),” The Hedge Fund Law Report (December 22, 2016)
- Quoted, “Hedge Funds As Direct Lenders: Regulatory Considerations of Direct Lending and a Review of Fund Investment Terms (Part Three of Three),” The Hedge Fund Law Report (October 6, 2016)
- Quoted, “Hedge Funds As Direct Lenders: Structures to Manage the U.S. Trade or Business Risk to Foreign Investors (Part Two of Three),” The Hedge Fund Law Report (September 29, 2016)
- Quoted, “Hedge Funds As Shadow Banks: Tax Considerations for Hedge Funds Pursuing Direct Lending Strategies (Part One of Three),” The Hedge Fund Law Report (September 22, 2016)