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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2227
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David Nissenbaum is a partner in the New York office, where his practice focuses on corporate, bank regulation and securities matters. He primarily represents institutional and entrepreneurial investment managers, financial services firms and private investment funds in all aspects of their business.
A member of the Advisory Board of the Hedge Fund CFO Association and past member of the Banking Law Committee of the New York City Bar Association, David is a sought-after writer and speaker. Articles include “Just Like Starting Over: A Blueprint for the New Wall Street Firm,” on how financial services firms are reinventing themselves in the wake of the global economic crisis, and “Permanent Capital for Hedge Funds and Private Equity Funds,” a companion volume to Practising Law Institute’s “Hedge Funds 2008” web program. David has been recognized as a “key” player in alternative/hedge funds formation by The Legal 500 United States and a “leading individual” in hedge funds by Chambers USA.
Selected Representations
Structures and advises investment management and financial services firms.
Structures and forms hedge, private equity, structured finance and hybrid funds, funds of funds and scalable platforms for fund sponsors.
Counsels principals on structure, partner and senior employee terms and regulatory matters.
Structures and negotiates seed and strategic investments, spin-offs, lift-outs and acquisitions.
Restructures proprietary trading desks into investment management businesses.
Counsels on identification and management of conflicts of interest.
Advises on all aspects of U.S. banking laws that affect investment and financial services firms and investment funds, including investments in banking organizations, bank-sponsored funds and investments in funds by banking organizations.
Selected Publications
“Hedge Fund Outlook 2010,” The Deal, December 29, 2009
“Just Like Starting Over: A Blueprint for the New Wall Street Firm,” The Deal, May 15, 2009
“Federal Reserve Provides Greater Flexibility for Non-Controlling Investment in Banks and Bank Holding Companies,” SRZ Client Alert, Sept. 23, 2008
“SEC Bans Short Selling and Imposes New Disclosure,” SRZ Client Alert, Sept. 19, 2008
“Investments in Banks: Possible Regulatory Developments,” SRZ Client Alert, June 30, 2008
“President’s Working Group on Financial Markets Releases Asset Managers’ Committee Report ‘Best Practices for the Hedge Fund Industry’ and Investors’ Committee Report ‘Principles and Best Practices for Hedge Fund Investors’,” SRZ Client Alert, April 15, 2008
“Permanent Capital for Hedge Funds,” PLI Hedge Funds 2008, May 7, 2008
“Guidance on Disclosure of Side Letters,” SRZ Client Alert, Oct. 4, 2006
“SEC Staff Issues No-Action Letter Providing Guidance with Respect to Principal Transactions,” SRZ Client Alert, July 10, 2006
“Activist Fund Structuring,” SRZ Activist Investing Developments, Spring 2005
“Collateralized Fund Obligations Offer Investors Flexible Alternatives,” International Financial Law Review, January 2003
“Foreign Banks: Use of Alternative Structures,” The Review of Banking & Financial Services, Nov. 15, 1995
More
Selected Speaking Engagements
“Current and Expected Changes in the Investment Management Business,” SRZ Greenwich Breakfast Briefing, June 2010
“Domicile Considerations,” Deutsche Bank's 2010 Hedge Fund Regulatory Summit, June 2010
“Trends in Fund Structure and Terms,” Goldman Sachs 13th Annual Hedge Funds Conference, May 2010
“The EU Alternative Investment Fund Managers Directive: What Now?,” SRZ Audio Conference Series, May 2010
“Institutionalization of Hedge Funds,” IBA 11th Annual Private Investment Funds Conference, March 2010
“Compensation in the Post-Deferral Era,” McLagan's Winter Hedge Fund Roundtable, February 2010
“International Focus: Offshore Funds Move Onshore,” MFA Network 2010, February 2010
“How the Financial Crisis is Changing the Fund Business,” SRZ 19th Annual Private Investment Funds Seminar, January 2010
“Emerging Manager Fund Raising: How to Attract and Retain Assets in 2010,” Reuters Webinar, December 2009
“Preparing for SEC Examinations of Private Fund Advisers,” SRZ Investment Management Hot Topics, November 2009
“Update on Regulation of Funds and Fund Managers,” SRZ Audio Conference Series, June 2009
Major Lindsey & Africa's Hedge Fund General Counsel Luncheon, March 2009
“Participating in Public-Private Investment Funds Sponsored by the U.S. Treasury, and Updates on TALF,” SRZ Audio Conference Series, March 2009
“Accessing the Term Asset-Backed Securities Loan Facility (TALF) and the U.S. Treasury Proposal to Create a Public-Private Fund,” SRZ Audio Conference Series, March 2009
“Recent Legal Developments in Hedge Fund Executive Compensation,” McLagan’s Winter 2009 Hedge Fund Roundtable, February 2009
“Current U.S. Congressional Proposals for Hedge Fund Regulation,” SRZ Audio Conference Series, February 2009
“Recent Market Events and Operational Issues,” Ernst & Young Hedge Fund Accounting, Tax and Marketing Update Session, January 2009
“Counterparty Relationships,” SRZ 18th Annual Private Investment Funds Seminar, January 2009
“Recent Market Events – How They Will Redefine the Course for Hedge Funds,” Ernst & Young’s Global Hedge Fund Symposium, October 2008
“Fair Valuation of Complex (and Often Illiquid) Investments,” Chief Operating Officer Management Forum, April 2008
“Private Investments: Navigating the Fiduciary and Compliance Waters,” Schulte Roth & Zabel LLP 16th Annual Private Investment Funds Seminar, January 2007
“Activist Funds,” International Bar Association 7th Annual International Conference on Private Investment Funds, London, February 2006
“Conflicts and Information Barriers,” SRZ 15th Annual Private Investment Funds Seminar, January 2006
Federal Reserve System Conference, Banking Regulation, Alternative Investments and Hedge Funds with an Emphasis on Placement of Alternative Investments in Fiduciary Accounts, August 2005
“Structures for Employee Investment,” SRZ 14th Annual Private Investment Funds Seminar, January 2005
“Disclosure and Transparency Requirements for Reporting to Investors,” Financial Research Associates LLC Hedge Funds Business Operations Forum, June 2004
More
Memberships
American Bar Association
Hedge Fund CFO Association
Advisory Board, 2007–present
New York City Bar Association
Banking Law Committee, 1998–2001
Other Distinctions
PLC 2010 Recognition
“Key” player in alternative/hedge funds formation, Legal 500 2008
“Leading individual” in hedge funds, Chambers USA 2008
Ralph C. Menapace, Jr. Fellowship, 1994–96
Pro bono
Global Board Member, Hedge Funds Care
Law Committee Member, The Municipal Art Society of New York
Bar Admissions
Education
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Brooklyn Law School, J.D., 1993
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State University of New York at Albany, B.A., 1990
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