USA Trends and Developments
Trends and Developments Contributed by: Scott Naidech, Basil Godellas, Alan Roth and Jacqueline Hu Winston & Strawn Winston & Strawn has served as a trusted adviser and advocate for clients across virtually every indus - try for more than 170 years. Its national funds practice advises private fund sponsors, alternative asset man - agers, funds of funds, pension plans, family offices, and institutional investors on all aspects of their fund formation transactions. The practice also addresses special situations, sponsor separations, fund restruc - turings and other GP-led secondary transactions. The practice is also among the most active in LP sec - ondaries transactions by volume, representing both buyers and sellers on secondary transactions, as
well as lead and syndicate LPs on their investments in continuation funds, tender offers, and other GP- led secondaries transactions. Winston & Strawn also has the nation’s leading SBIC practice, the largest by market share, advising on 60-70% of the USD41 bil - lion annual programme, reflecting consistent growth and prominence in the sector. The firm’s transactional capabilities are supported by its financial services, regulatory, tax, and compliance capabilities, includ - ing SEC regulatory and compliance issues and SEC examinations.
Authors
Scott Naidech is co-chair of Winston’s funds practice group, and its secondaries and liquidity solutions group. He regularly represents asset managers in the structuring, establishment, and operation of their
Basil Godellas is a partner in Winston’s funds practice group. He
has over 30 years of experience representing asset management clients in a range of regulatory and transactional matters, including the formation of private investment funds, product development, securities offerings, and acquisitions. He advises on structuring and forming various investment funds, such as hedge funds, private equity, and alternative investments, and has extensive experience with onshore and offshore funds, including “master feeder” and multi-class funds. Basil has also represented major financial institutions in significant transactions and advises clients on digital assets and blockchain technology.
funds. For over 25 years he has advised on the formation of buyout, growth capital, credit, energy and infrastructure, real estate, and venture capital funds. In addition to fund formations, he routinely advises on multi- and single-asset continuation vehicles and other GP-led secondary transactions. He also represents institutional investors and family offices on their investments in private funds, and investment advisers on their regulatory and compliance needs.
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