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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2298
E:
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Udi Grofman is a partner in the New York office, where he concentrates on securities law, investment funds and regulatory compliance. Udi’s experience includes structuring financial services and investment management firms, hedge funds, private equity funds, hybrid funds and funds of funds, and scalable platforms for fund sponsors; and structuring and negotiating seed and strategic investments and relationships. In addition, he regularly advises investment management firms and their principals on regulatory compliance, crisis and risk management, and other operational issues. Udi also advises on mergers, acquisitions and reorganizations of investment management firms, and on restructuring proprietary trading desks into independent investment management firms.
Udi is listed as a leading lawyer in Who’s Who Legal – The International Who’s Who of Private Funds Lawyers and The Legal 500 United States has recognized him as one of the hedge fund industry’s “finest talents,” noting that he has been referred to by clients as “the single sharpest lawyer I’ve come across in the space” and “an extraordinary lawyer with a very sound and expansive knowledge of the law as well as very good judgment.” A magna cum laude graduate of the Tel Aviv University School of Law and an LL.M. graduate of the New York University School of Law, Udi writes and speaks frequently on the challenges facing hedge funds in today’s market. He recently addressed the Hedge Fund CFO Association on the subject of “Current Regulatory and Legal Issues: What Should CFOs Think About” and The Deal recently featured an article he co-authored entitled, “Just Like Starting Over: A Blueprint for the New Wall Street Firm.”
Selected Representations
Structure financial services firms and investment management firms.
Counsel principals on terms of financial services management entities.
Structure and form hedge funds, private equity funds, hybrid funds and funds of funds.
Structure and implement scalable platforms for fund sponsors.
Advise on mergers, acquisitions and reorganizations of investment management firms.
Structure and negotiate seed and strategic investments and relationships.
Advise financial services firms on crisis management and risk management.
Restructure proprietary trading desks into independent investment management firms.
Advise on financing structures for investment funds.
Advise on regulatory and compliance issues affecting investment management firms.
Selected Publications
“Just Like Starting Over: A Blueprint for the New Wall Street Firm,” The Deal, May 15, 2009 (co-author)
“Hedge Fund Investment Accounts,” Compliance Reporter, Jan. 30, 2006 (co-author)
“SEC Brings Enforcement Action Involving Trade Errors,” SRZ Investment Management Developments, Fall 2005 (co-author)
More
Selected Speaking Engagements
“The Emerging Regulatory Framework: What to Expect in 2010 and Beyond,” Bank of America/Merrill Lynch Global Hedge Fund Conference, New York, March 2010
“How the Financial Crisis is Changing the Fund Business,” SRZ 19th Annual Private Investment Funds Seminar, New York, January 2010
“Risk Management in a Changing Environment,” SRZ 19th Annual Private Investment Funds Seminar, New York, January 2010
Finance Roundtable, US and Israel: Confronting Challenges, New York, December 2009
“Employment Issues – What Could Go Wrong? Avoiding Common Pitfalls,” MFA General Counsel Forum, New York, September 2009
“Current Regulatory and Legal Issues: What Should CFOs Think About,” Hedge Fund CFO Association Meeting, New York, September 2009
“Managed Accounts: Growing Assets in a New Investment World,” Reuters HedgeWorld Webinar, New York, July 2009
“Managed Accounts: A Discussion of Certain Legal Implications,” Goldman Sachs Managed Accounts Roundtable, New York, April 2009
“Challenges Facing Hedge Funds in Today’s Market,” LSTA Seminar, New York, March 2009
“Hedge Funds – Current Operational Issues,” Maples Investment Funds Forum, Grand Cayman, Cayman Islands, February 2009
“Crisis Management: Lessons Learned From 2008” and “Liquidity Terms: Structuring for the Future,” SRZ 18th Annual Private Investment Funds Seminar, New York, January 2009
“Gates, Liquidity and Side Pockets: Managing Through to 2009,” Merrill Lynch Hedge Fund Discussion Series: Sustaining Growth and Finding Competitive Advantage, New York, November 2008
“What Does the Bayou Case Mean for You?,” SRZ Greenwich Private Investment Funds Seminar, Greenwich, CT, September 2008
“Side Pockets and Side Letters: When is Enough Enough?,” West LegalWorks Conference, New York, March 2008
“Spotlight on Compliance: Key Issues for 2008,” SRZ 17th Annual Private Investment Funds Seminar, New York, January 2008
“Forming and Advising an Investment Entity as an LLC,” New York State Bar Association Program, New York, December 2007
“Seeding Arrangements: Key Considerations and Current Trends,” Greenwich Private Investment Funds Seminar, Greenwich, CT, May 2007
“Seeding Arrangements: Current Trends & Compliance,” SRZ Hot Topics Seminar, New York, April 2007
“Acquisitions, Consolidations & Mergers: Due Diligence Issues,” West LegalWorks Conference, New York, March 2007
“What Should You Do Before the SEC Comes Knocking?,” Financial Research Associates Conference, New York, February 2007
“Spotlight on Compliance: Key Issues for 2007,” SRZ 16th Annual Private Investment Funds Seminar, New York, January 2007
“Side Letters: Guidelines for Disclosure,” American Conference Institute’s 4th National Legal & Compliance Hedge Fund Forum, New York, November 2006
“Best Execution,” American Conference Institute, New York, January 2006
“Regulatory Hot Buttons Affecting Fund of Funds,” Financial Research Associates Conference, New York, November 2005
“Fulfilling The Advisers’ Fiduciary Duty in Best Execution For Difficult Instruments,” American Conference Institute, New York, June 2005
“Compliance Issues Relating to Third Party Marketers,” SRZ Hedge Fund Compliance Seminar, New York, March 2005
More
Other Distinctions
Captain (Res.), Israel Defense Forces
“Consistently praised and regarded [by clients] as ‘very smart, business-savvy and responsive.’ Displays 'breadth of knowledge, accessibility and business sense.’" — Legal 500 (2009)
"…[O]ne of the industry's finest upcoming talents. According to various clients, Grofman is 'the single sharpest lawyer I've come across in the space' and 'an extraordinary lawyer . . . he has very sound and expansive knowledge of the law, as well as very good judgment'"—Legal 500 (2008)
Bar Admissions
Education
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New York University School of Law, LL.M.
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Tel-Aviv University School of Law, LL.B., magna cum laude
Prior Experience
Prof. David Libai, Attorneys-at-Law, Tel-Aviv, Israel
Yigal Arnon & Co., Attorneys-at-Law, Tel-Aviv, Israel
Lecturer, The Interdisciplinary Center-School of Law, School of Business Management, Hertzliya, Israel
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