Thomas R. Hiller


  • JD, cum laude, University of Pennsylvania Law School, 1994; University of Pennsylvania Law Review
  • BA, magna cum laude, Colgate University, 1991; Phi Beta Kappa


  • Massachusetts, 1994
  • IFLR1000: The Guide to the World’s Leading Financial Law Firms, Leading Lawyer (2016-2017), Highly Regarded (2018-2019)
  • Chambers USA: America's Leading Lawyers for Business (2007-2019)
  • Legal 500 (2015-2018)
  • PLC Which Lawyer (2010-2011)

Thomas R. Hiller


Tom is co-chair of the firm's investment management practice group. His practice focuses on the investment management industry. He represents investment advisers to a range of investment products, including mutual funds, hedge funds, commodity pools and separate accounts. Tom also provides ongoing advice to mutual funds and their independent trustees/directors. He has extensive experience with the following types of matters, among others: the organization of mutual funds, hedge funds and investment advisers; director duties with regard to advisory agreements and Rule 12b-1 plans; investment adviser registration issues; general conflicts and fiduciary duty issues; closed-end fund activist issues; fund reorganizations; fund-of-fund and master/feeder issues; affiliated transactions; and regulatory and compliance issues of all kinds affecting investment management industry clients.


  • Represents Grantham, Mayo, Van Otterloo & Co., LLC and the GMO Trust mutual fund complex on a wide range of matters as primary outside counsel. Recent representative matters include the organization of three new funds, including one that operates as part of a master/feeder structure.
  • Represents the Independent Trustees of the Deutsche Funds.
  • Represents the Sterling Capital Funds and their independent trustees as primary outside counsel.
  • Represents a leading hedge fund firm on a wide range of regulatory and compliance matters as primary outside counsel.


  • Quoted, “Morningstar Takes a Different Route in Forming New Board,” BoardIQ (June 19, 2018)
  • Quoted, “Asset Management Group Of The Year: Ropes & Gray,” Law360 (January 26, 2018)
  • Quoted, “Cuts to Advisory Fees Being Driven by Advisers, Not Boards,” BoardIQ (October 10, 2017) 
  • Quoted, “Is 80 the new 72? Some Boards Upping Retirement Age,” BoardIQ (January 10, 2017)
  • Quoted, “Independent Directors Seek Answers After Chair’s Arrest,” BoardIQ (February 11, 2015)
  • Author, “What Boards Can Learn from SEC’s Summer Actions,” BoardIQ (August 11, 2015)
  • Quoted, “He’s a One-Man Board, So There’s Not Much Dissent,” BoardIQ (July 28, 2015)
  • Quoted, “Independent Directors Seek Answers After Chair’s Arrest,” BoardIQ (January 27, 2015)
  • Quoted, “Is Combining Contracts Garlic Against 36(b) Plaintiff Attacks,” BoardIQ  (April 22, 2014)
  • Quoted, “For Whom the Bell Tolls? In the Fund World, It Tolls for B,” BoardIQ (September 24, 2013)
  • Quoted, “Small Fund Board Escapes SEC Charges but Not Its Wrath,” BoardIQ (July 2, 2013)
  • Quoted, “SEC Reviews Board Role in Repo Deals; IDC Urges More,” BoardIQ (February 12, 2013)


  • Moderator, Mutual Fund Directors Forum’s Best Execution in Today’s Complex Markets Conference, “Market Structure in the Fixed Income Market Today” and “Practical Issues - Board Oversight of Market Structure Issues” (November 20, 2014)
  • Presenter, 2013 Investment Adviser Association Annual Conference, “SEC Examinations:  What Business People Need to Know,” (May 2, 2013)
  • Host/Facilitator, Mutual Fund Directors Forum’s “Director Discussion Series,” (July 19, 2012)
  • Moderator, Independent Directors Council’s "2012 Investment Company Directors Workshop," discussion group on Board Governance (May 10, 2012)
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