Elizabeth Reza brings a deep and nuanced understanding of the registered funds regulatory and business landscape to her work with asset managers. A partner in the asset management group and former co-head of Ropes & Gray’s registered funds practice, Elizabeth works with clients on the full range of matters facing their businesses—from launching and operating innovative new fund products to carrying out fund mergers and other transactions and advising on compliance and governance matters.

Recognized by Chambers and The Legal 500 for her work on behalf of clients, Elizabeth has more than two decades of experience designing and structuring registered fund products, including open-end and closed-end (including interval) funds. In recent years, she has devoted significant time to guiding clients that are looking to bring non-traditional asset classes to retail investors, and is familiar with a wide range of alternative investment strategies. In addition to her work with asset managers, Elizabeth counsels independent directors and trustees who oversee fund complexes.

Clients and peers laud Elizabeth’s “stunning” intellect and she “is esteemed for the advice and counsel she provides for registered investment companies,” according to Chambers. Clients value her practical and responsive advice and her ability to work collaboratively with the staff at the SEC.  Her familiarity with both the regulations and the regulators allows Elizabeth to creatively develop new products and compliance solutions.

Elizabeth is a member of the firm’s governing policy committee and a former co-chair of the Ropes Multicultural Forum, which sponsors initiatives aimed at promoting and supporting diverse lawyers.


  • Represents the Independent Trustees of the J.P. Morgan Mutual Funds and Exchange-Traded Funds.
  • Represents the Voya Funds mutual fund and closed end fund complex.
  • Represents the Stone Ridge Funds mutual fund and closed end fund complex and Stone Ridge Asset Management.
  • Represents the Independent Trustees of the Nationwide Funds.
  • Represents the Independent Trustees of the DWS Funds.
  • Represents Grantham, Mayo, Van Otterloo & Co., LLC and the GMO mutual fund complex on a wide range of matters as primary outside counsel. 
  • Represents several asset managers on a wide range of regulatory and compliance matters relevant to their services to mutual funds and separate account clients.

Areas of Practice