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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2227
E:
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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 Alternative Investment Financial Executives Association and past member of the Banking Law Committee of the New York City Bar Association, David is a sought-after writer and speaker in his areas of expertise. “Just Like Starting Over: A Blueprint for the New Wall Street Firm” and “Hedge Fund Outlook 2010,” which he authored for The Deal, and “Federal Reserve Provides Greater Flexibility for Non-Controlling Investment in Banks and Bank Holding Companies” are among his publications and he has spoken in recent months about disclosure documentation, domicile considerations, and current and expected changes in the investment management business. David has been recognized by International Who's Who of Private Funds Lawyers, PLC Cross-border Private Equity Handbook, The Legal 500 United States, IFLR Guide to the World’s Leading Investment Funds Lawyers, and 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, Dec. 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
More
Selected Speaking Engagements
“Succession Planning,” SRZ 21st Annual Private Investment Funds Seminar, January 2012
“Non-Banking Institutions’ Growing Influence in the Financial Services Sector,” mergermarket Financial Services M&A Symposium, New York, November 2011
“Current and Expected Changes in the Investment Management Business,” SRZ Greenwich Breakfast Briefing, June 2010
“Compensation in the Post-Deferral Era,” McLagan's Winter Hedge Fund Roundtable, February 2010
“Emerging Manager Fund Raising: How to Attract and Retain Assets in 2010,” Reuters Webinar, December 2009
“Crisis Management: Handling Government Investigations” and “Sources of Capital: Capital Markets, Registered Funds and Seeding Arrangements,” SRZ 20th Annual Private Investment Funds Seminar, January 2011
“Recent Findings of SEC Audits,” HFCFO Association Membership Meeting – NY Chapter, December 2010
“Sound Practices & Due Diligence and a Hedge Fund Overview,” MFA Alternative Investments: Understanding Hedge Funds Webinar, December 2010
"Hedge Funds—Disclosure Documentation," Financial Reform Symposium, September 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
“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
“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
“Counterparty Relationships,” SRZ 18th Annual Private Investment Funds Seminar, January 2009
“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
Alternative Investment Financial Executives Association
Advisory Board, 2007–present
New York City Bar Association
Banking Law Committee, 1998–2001
Other Distinctions
“Leading individual” in hedge funds, Chambers USA
“Key” player in alternative/hedge funds formation, Legal 500
PLC Cross-border Private Equity Handbook Recognition
Listed in IFLR Guide to the World’s Leading Investment Funds Lawyers
“Leading Private Funds Lawyer,” International Who's Who of Private Funds
Lawyers
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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