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SEC Increases “Qualified Client” Standards

On June 17, 2021, the U.S. Securities and Exchange Commission (the “SEC”) issued an order (the “Order”1) increasing the dollar amount tests in order to qualify as a “qualified client” in Rule 205-3 (the “Rule”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). As described below, these changes will be effective…

Client Alerts | August 2, 2021 | Investment Management | Hedge Funds | Private Equity Funds

Kleinberg Kaplan Receives High Marks from Clients in Latest Edition of The Legal 500: United States

New York, June 17, 2021 – Premier boutique law firm Kleinberg Kaplan was recognized in the latest edition of The Legal 500: United States for its Hedge Funds and Investor Activism practices. The Hedge Funds practice was celebrated for advising a wide range of fund managers on large capital commitment facilities, as well as spin-outs and set-up issues for new managers.…

Firm News | June 17, 2021 | Hedge Funds | Investor Activism

Kleinberg Kaplan Recognized in Chambers USA 2021

Firm ranked in Hedge Funds category; three partners individually honored New York, May 20, 2021 — Premier boutique law firm Kleinberg Kaplan announced that it has been recognized by Chambers USA 2021 as a leading firm. The firm was again included in the “Hedge Funds (USA – Nationwide)” category, and three Kleinberg Kaplan partners were individually…

FEATURED PUBLICATION | May 20, 2021 | Hedge Funds | Investor Activism

Kleinberg Kaplan Adds David Pentlow as Senior Counsel to Private Funds & Investment Management Practice

Premier boutique law firm Kleinberg Kaplan has announced that David Pentlow has joined the firm as Senior Counsel in its Private Funds & Investment Management Practice. Mr. Pentlow has extensive experience representing private equity funds, hedge funds, real estate funds and other investors, financial institutions, and issuers – from start-ups to established public companies –…

Firm News | February 16, 2021 | Private Equity Funds | Hedge Funds | Real Estate Funds | Investment Management | Securities and Corporate Finance | Mergers & Acquisitions | Business Restructuring and Reorganization

Kleinberg Kaplan Promotes Joshua Guttman to Partner

Premier boutique law firm Kleinberg Kaplan announces the promotion of Joshua Guttman to partner effective January 1, 2021. Since 1971, New York-based Kleinberg Kaplan has been a leader in advising hedge and private equity funds, sophisticated business ventures, prominent real estate operators, and family offices. “I am pleased to announce the promotion of Josh Guttman to partner,”…

FEATURED PUBLICATION | January 4, 2021 | Hedge Funds | Private Equity Funds | Investment Management

Kleinberg Kaplan Partner Philip S. Gross Featured in Hedge Fund Law Report’s “2020 Year-End Tax-Planning Considerations for Fund Managers”

Philip S. Gross, partner and chair of Kleinberg Kaplan’s Tax Department, is featured in Hedge Fund Law Report’s article “2020 Year-End Tax-Planning Considerations for Fund Managers.” In the in-depth Q&A, Phil details year-end tax-planning issues for both the principals of hedge fund managers and their funds, including any special considerations for 2020 due to the COVID-19…

Firm News | December 10, 2020 | Hedge Funds | High Net Worth Individual Planning

IBOR Transition – IBA Announces Plan For Key USD LIBOR Tenors Beyond 2021

The ICE Benchmark Administration (“IBA”) announced earlier this week that it will consult on its intention to extend publication of the overnight and one-, three-, six-, and 12-month USD LIBOR rates until June 30, 2023. The June 2023 extension, however, applies only to legacy contracts—no new USD LIBOR contracts will be permitted after 2021.1 The…

Client Alerts | December 3, 2020 | Commercial and Corporate Litigation | Derivatives | Hedge Funds | Risk Management

Kleinberg Kaplan Partners Philip S. Gross and Maurice Collada III Featured in S&P Global Intelligence

Philip S. Gross, partner and chair of Kleinberg Kaplan’s Tax Department, and Maurice Collada III, Private Equity and Hedge Funds partner, are featured in an S&P Global Intelligence article. In “Biden’s proposed tax plans could hit private equity in the pocket,” Phil and Maurice shared their thoughts on the concerns surrounding the possible tax increases…

Firm News | December 3, 2020 | High Net Worth Individual Planning | Private Equity Funds | Hedge Funds

Tax Issues and Planning to Consider Before Year-End 2020

November 2020 This annual newsletter briefly highlights certain tax issues and planning that hedge fund managers (and other high-net-worth individuals) should consider (or reconsider) before year-end. Although year-end tax planning is always important, the potential increase in tax rates in 2021 makes it even more important this year-end. The election may be over, but uncertainty…

Client Alerts | November 10, 2020 | Business Advice and Planning | High Net Worth Individual Planning | Hedge Funds | Private Equity Funds | Planning for Fund Managers