Cooley LLP is increasing its fund formation apply, hiring former Securities and Trade Fee lawyer and Fried Frank accomplice Stacey Track.
Track, who can be a accomplice in Cooley’s New York workplace, advises on compliance and regulatory issues for personal fund administration and different different funding autos. She labored on a brand new advertising and marketing rule for funding advisers that was devised throughout her time on the SEC.
The addition offers Cooley 19 fund formation apply companions. The San Francisco-founded agency’s purchasers embrace Amplify Companions, an early-stage enterprise capital agency in Menlo Park, Calif., which introduced final month the formation of two new funds with a mixed $700 million in capital.
Additionally in June, Cooley stated it had suggested Apparent Ventures, a enterprise capital agency investing in early-stage entrepreneurs on its elevating two new funds representing a mixed $461 million in contemporary capital.
Cooley closed greater than 490 funds final 12 months, elevating greater than $61 billion, John Dado, the agency’s fund formation apply head, stated in an interview. By mid-June, the agency was on tempo to match 2021, however Dado stated that the agency “might or might not attain” the identical record-breaking stage this 12 months.
At Fried, Frank, Harris, Shriver & Jacobson, Track targeted on securities regulation, advising funding advisers, personal funds and broker-dealers in addition to structuring and administration of personal funds and different different funding autos.
Track provides regulatory experience to the fund formation apply because the funding world faces new regulation, Dado instructed Bloomberg Legislation. “Having the regulatory part she brings is completely crucial,” he stated.
The SEC has “a ton of different personal fund rulemaking on its rulemaking listing, and all of these might influence funding advisers,” Track stated.
Cooley, with some 1,700 legal professionals across the globe, stated it, is major fund counsel to greater than 500 funding fund organizations. The agency’s fund formation apply works with Cooley’s rising firm group.
Cooley in December added Lina Zhou from Kirkland & Ellis as its first fund formation accomplice within the agency’s New York workplace.
The agency reported slightly below $2 billion in gross income final 12 months, making it the sixteenth largest legislation agency, in response to knowledge compiled by the American Lawyer.