Chelsea is a partner in Ropes & Gray’s global asset management group. With a broad practice that spans regulatory, compliance and transactional aspects of the asset management industry, Chelsea provides comprehensive legal counsel to registered funds, private funds and their advisers. As a co-leader of the firm’s alternative retail working group, Chelsea focuses on structuring, developing and launching innovative “alternative retail” investment products, such as closed-end funds, tender offer funds and interval funds.
Chelsea’s experience includes advising on investment company registration and status issues under the Investment Company Act of 1940 and engaging with the Securities and Exchange Commission on exemptive applications and other regulatory requests. Chelsea also advises on various federal securities laws and SEC filings, such as registration statements, shareholder reports and proxy statements.
Experience
Chelsea represents or has represented:
- PIMCO and its registered closed-end and interval funds in various corporate, regulatory and compliance matters; and advises on private fund offering matters, as well as all aspects of day-to-day operations, including side letter negotiations and service provider arrangements.
- Carlyle AlpInvest tender offer funds investing in private market investments.
- Parnassus Investments and its mutual funds and ETFs, and matters relating to sustainable investing.
- Versus Capital Advisors and its interval funds investing in real estate, infrastructure and real assets.
- Meketa and Primark interval funds and their independent trustees, including on matters relating to co-investment relief.
- The independent trustees of the Schwab Funds and ETFs and the Dodge & Cox Funds, providing guidance on fund governance and board-related matters.
- Optimize Wealth Management, a Canadian wealth manager, in its entrance to the U.S. registered funds market.
- Stone Ridge Asset Management on the launch of its suite of over 40 LifeX funds, which include ETFs with corresponding unlisted closed-end funds.