"I was recently staffed as the junior associate on an R&G team that advised Blackstone Alternative Asset Management regarding the launch of a closed-end “fund of hedge funds” registered under the 1933 Act and the 1940 Act. This was a particularly interesting project because Blackstone, which has a very large private fund business, had never before launched a registered investment fund, and my experience working in both the hedge funds and investment management group gave me a unique perspective on this project. Further, I was involved from the earliest stage of the project because I did a substantial amount of market research to help the partner prepare for his initial “pitch” to the client. Launching a closed-end fund was accurately described to me as a “mini-IPO,” so, in addition to drafting the fund’s basic corporate documents, I was given the opportunity to take the lead on drafting the fund’s registration statement and coordinating a variety of regulatory filings and corporate governance documents. What was perhaps most interesting about this assignment was that I was constantly educating the client’s in-house legal and business personnel about the ins-and-outs of starting and running a registered mutual fund, which are subject to a more complex regulatory regime than are the private funds that Blackstone typically manages. The client has only recently started marketing this fund to the public, so I am hoping they are successful at attracting investors because I am looking forward to advising the client regarding the fund’s operations on an ongoing basis."
For Sean's full biography, click here. Please feel free to call (1-800-951-4888 x4950) or email (sean.rogers@ropesgray.com) Sean, who would be happy to discuss his experiences at Ropes & Gray.
