Josh Dambacher, co-head of the firm’s London office, focuses his practice on corporate, securities and regulatory matters. He primarily represents institutional and entrepreneurial investment managers, financial services firms and private investment funds in all aspects of their business. Josh’s experience includes structuring investment management firms, hedge funds, private equity funds, hybrid funds and funds of funds; and structuring and negotiating seed and strategic investments. He also regularly advises investment management firms and their principals on UK and US regulatory compliance, acquisitions and reorganisations of investment management firms, and restructuring proprietary trading desks into independent investment management firms.

Josh previously led the US Financial Reforms Working Group for the Alternative Investment Management Association. He has been described by interviewees in Chambers UK as “pragmatic and commercial in his outlook” and “always reachable no matter what.” Josh is listed as a leading investment management lawyer by Chambers UKChambers Europe, Chambers GlobalIFLR1000The Legal 500 UK and Who’s Who Legal: The International Who’s Who of Private Funds Lawyers. He was listed in the Financial News 40 Under 40 Rising Stars of Hedge Funds 2012 and Financial News 40 Under 40 Rising Stars of Legal Services 2013. Recently, Josh received an Outstanding Contribution award for his services to the hedge fund industry (The Hedge Fund Journal Awards 2018). He is also a frequent speaker and author on issues facing the investment management industry including, most recently, on the current regulatory landscape for hedge funds, the proposed EU Directive on Alternative Investment Fund Managers and the US Dodd-Frank Act. 

Representations

Investment manager, with over $12 billion in assets under management, in the global restructuring of its operations in Guernsey, the UK, the US and the Cayman Islands.

Investment manager, with over $14 billion in assets under management, in connection with the formation and launch of multiple private equity funds and managed accounts focusing on leveraged loans and mezzanine lending.

Investment manager, with over $26 billion in assets under management, in respect to the launch of a UCITS fund.

Investment manager, with over $4 billion in assets under management, in respect to the launch of a UCITS fund.

Entrepreneurial sponsor in launch of $1 billion multi-strategy hedge fund and negotiation of seed investments by a major financial institution and foundation.

Investment manager, with over $5 billion in assets under management, in respect to redomiciliation of funds to Ireland.

Investment manager, with over $15 billion in assets under management, with respect to compliance with US securities laws including the US Securities Act, the US Securities Exchange Act and the US Advisers Act.

Major investment bank launching a hedge fund platform from a proprietary trading desk.

Investment manager, with over $6 billion in assets under management, in the sale of minority interest of its investment management business.

Activist investment manager, with over $4 billion in assets under management, in connection with the structuring and formation of multiple single company acquisition vehicles.

Multiple hedge funds in negotiation of side letters with major investors.

Investment manager, with over $20 billion in assets under management, in the sale of 100 percent of its business.

Investment manager, with over $20 billion in assets under management, in the launch of a managed account platform.

Private equity funds in use of cross-fund financing through total return swaps.

Publications

“US Private Fund Advisers Likely to Have Another Year to Comply with the AIFM Directive for Marketing in the UK,” SRZ Alert, 2 May 2013 (co-author)

“Final Rules for the Private Fund Investment Advisers Registration Act of 2010,” SRZ Client Memorandum, 8 Aug. 2011 (co-author)

“New FSA Policy on Prime Brokerage Client Assets,” SRZ Alert, 9 Nov. 2010 (co-author)

“Dodd-Frank Becomes Law: Key Issues for Private Fund Managers,” The Hedge Fund Journal, September 2010 (co-author)

“Proposed European Union Directive on Alternative Investment Fund Managers,” SRZ Client Memorandum, 15 July 2009

“UCITS and Hedge Funds: Fact, Fiction and the Real Opportunities,” The Hedge Fund Journal, April 2009 (co-author)

“FSA Clarifies Short Sale Disclosure Requirements,” SRZ Alert, 31 Oct. 2008 (co-author)

“FSA Clarifies Short Sale Prohibition and Disclosure Requirements,” SRZ Alert, 25 Sept. 2008 (co-author) 

Speaking Engagements

“Implementing ESG in a Hedge Fund Construct” and “Marketing: Compliance Pitfalls,” UBS Hedge Fund COO Conference, October 2018

“Getting to Grips with Succession Planning and ‘Future-Proofing’ Your Business,” HFM European Operational Leaders and Legal Summit, September 2018

“Co-Investment Vehicles,” SRZ London Investment Management Hot Topics, July 2018

Maples and Calder Investment Funds Forum, 8-10 Feb. 2018

“Trends in EU Regulation,” SRZ 27th Annual Private Investment Funds Seminar, New York, January 2018

“Introduction,” and Moderator, “A Market Perspective,” SRZ London Investment Management Hot Topics, 8 March 2017

“Section 871(m): U.S. Withholding on Deemed Dividends,” SRZ Webinar, 29 Nov. 2016

“Trade Errors — Who Is At Risk?,” Willis Towers Watson and HighWater Seminar, 14 Nov. 2016

“Evolution of a Management Company,” SRZ London Investment Management Hot Topics, 16 March 2016

Maples and Calder Investment Funds Forum, 25-27 Feb. 2016

Credit Suisse Seeding & Strategic Partnership Luncheon, 10 Dec. 2015

“U.S. Firms’ Marketing Rules, UCITS, Fund Structures, AIFMD and MiFID II,” JP Morgan Capital Introduction Group Manager Education Series – Marketing 3.0, 17 Nov. 2015

“Regulatory Landscape — Regulations Impacting You,” JP Morgan The COO of Tomorrow — Hedge Fund Operational Leadership Forum, 16 Sept. 2015

“Unchartered Territory: The Legal Professional’s Role in Mapping the Future of Their Firm,” HFMWeek Operational & Legal Summits, 14-16 Sept. 2015

“Current Issues for Managers,” SRZ London Investment Management Hot Topics, 11 March 2015

“Legal and Compliance Panel,” Goldman Sachs Fifth Annual European Hedge Fund Leadership Conference, 8-10 March 2015

“Legal — Getting It Right From the Start,” Bloomberg Hedge Fund Start-Up Conference, 5 March 2015

“European Case Study,” Maples and Calder Investment Funds Forum, 5-7 Feb. 2015

“Legal View: Dealing with the Past, Living with the Present and Looking Ahead  to the Future,” HFMWeek European Operational Leaders Summit, 15-17 Sept. 2014

“Fundraising in the Current Regulatory Environment,” JP Morgan Manager Education Series — Marketing 2.0, 26 June 2014

“Management Company Structuring and Operations,” SRZ London Investment Management Hot Topics, 12 March 2014

“Legal and Regulatory Update,” Goldman Sachs Fourth Annual European Hedge Fund Leadership Conference, 12 Feb. 2014

“Planning Pays — Remuneration, Taxation, Regulation,” Deutsche Bank Breakfast Private Round Table, 16 Jan. 2014

“AIFM Directive for EU Private Fund Managers: Remuneration Rules,” SRZ AIFM Directive Update: Requirements for Private Fund Managers Webinar Series, 12 Nov. 2013

“AIFM Directive Marketing Rules for US, EU and Non-EU AIFMs,” SRZ AIFM Directive Update: Requirements for Private Fund Managers Webinar Series, 22 Oct. 2013

“Underpaid and Over There: Raising Assets in the US,” HFMWeek European Operational Leaders Summit, 16-18 Sept. 2013

“AIFMD for EU Private Fund Managers: Marketing in the EU,” SRZ AIFM Directive: Requirements for Private Fund Managers Webinar Series, 19 March 2013

“Capital Raising in 2013,” SRZ London Investment Management Hot Topics, 14 March 2013

“AIFMD for EU Private Fund Managers: General Requirements,” SRZ AIFM Directive: Requirements for Private Fund Managers Webinar Series, 13 March 2013

“Legal and Regulatory Update,” Goldman Sachs Third Annual European Hedge Fund Leadership Conference, 6 Feb. 2013

“Marketing in Europe: AIFM and Beyond,” SRZ 22nd Annual Private Investment Funds Seminar, 15 Jan. 2013

“What Hedge Fund Managers Need to Know About the JOBS Act,” AIMA JOBS Act Seminar, 18 Sept. 2012 

“Safety in Numbers: Change, Consolidation and M&A in the Hedge Fund Space,” HFMWeek Legal Summit, 11-12 Sept. 2012

“Bottom Line — Fund Terms, Managing Fees and Expenses,” Deutsche Bank Global Prime Finance European Hedge Fund Symposium, 24 May 2012

AIMA Half Yearly Meeting, 21 May 2012

“Current Terms: Hedge Funds,” International Bar Association 13th Annual International Conference on Private Investment Funds, 11 March 2012

“Institutional Investors and Operational Issues,” SRZ London Investment Management Hot Topics, 28 Feb. 2012

“US Regulatory Update,” Maples and Calder Investment Funds Forum, 10 Feb. 2012

“Relationships With Institutional Investors,” SRZ 21st Annual Private Investment Funds Seminar, 18 Jan. 2012

“Dodd Frank and the SEC Supervision of UK-based Firms Panel,” ACA Compliance Regulatory Horizon 2012, 13 Oct. 2011

“The Evolving Shape of Management Business and Funds,” HFMWeek Legal Summit, 20 Sept. 2011

“Regulation Update,” Goldman Sachs Client Webcast, 7 July 2011

“Blurring the Lines – The Continuing Convergence Between Traditional and Alternative Investment Funds,” Irish Funds Industry Association’s Annual Global Investment Funds Conference, 2 June 2011

“Regulatory Changes,” Bank of America Merrill Lynch COO Roundtable, 24 May 2011

“US Regulatory Issues for Non-US Managers,” SRZ Audio Conference Series, 20 April 2011

Stanford Resourcing Limited Hedge Fund Breakfast Forum, 19 April 2011, London

“Legal and Regulatory Developments,” Goldman Sachs European Hedge Fund Leadership Conference, 30 March 2011

“The European Perspective, Landscape and Market,” Maples and Calder Investment Funds Forum, 10 Feb. 2011

“What are the Major Differences Between the EU and US with Regards to Regulatory Policy?” Funds Summit, 24 Nov. 2010

"Dodd-Frank for Non-US Managers," Goldman Sachs Client Event, 28 Sept. 2010

"Global Regulatory Developments," AIMA Annual Conference, AGM and 20th Anniversary Celebration, 23 Sept. 2010

"Global Regulatory Environment," Credit Suisse Hedge Fund Leadership Conference, 21 Sept. 2010

"International Regulatory Update," HFMWeek Legal Summit, 14 Sept. 2010

“SEC Registration for Non-US Managers,” Goldman Sachs Client Event, 7 Sept. 2010

“Impact on Non-US Managers of the Financial Reform Bill,” Goldman Sachs Client Webcast, 2 July 2010

“Regulation & Compliance Priorities for 2010,” IBC 9th Annual Hedge Fund Operations Conference, 8 June 2010

“The EU Alternative Investment Fund Managers Directive: What Now?,” SRZ Audio Conference Series, 27 May 2010

“Accessing Complementary Distribution Channels for Alternative Investment Fund Managers Via UCITS,” Distribution of Alternative Funds Outside the United States, Carne Group/SRZ/Morgan Stanley Seminar, 18 March 2010

“Current Terms: Hedge Funds,” IBA 11th Annual Private Investment Funds Conference, 8 March 2010

“New Legislative and Regulatory Initiatives,” SRZ 19th Annual Private Investment Funds Seminar, 14 Jan. 2010

“EU Directive and Proposed SEC Registration,” Hedge Fund Leaders Conference, 1 Dec. 2009

“Alternative Investments in the Regulatory Spotlight,” ALFI European Alternative Investment Funds, 24 Nov. 2009

“US Regulatory Developments for UK, European and Other Non-US Investment Managers,” SRZ Audio Conference Series, 20 Oct. 2009

“Comparing US and UK Regulatory,” FINRA US Securities Regulation Course, 14 Oct. 2009

“European Union Draft Directive on Alternative Investment Fund Managers — What US Managers Need to Know,” Bank of America Merrill Lynch Seminar, 17 Sept. 2009

“EC Draft Directive on Alternative Investment Fund Managers — What You Need To Know, What You Need To Do,” Bank of America Merrill Lynch Seminar, 22 July 2009

“Accessing Complementary Distribution Channels Via Regulated Products Including UCITS for Alternative Managers,” Building a Sustainable Asset Management Business, Carne Group/SRZ/Morgan Stanley Seminar, 3 June 2009

“What Managers Need to Know About the New European Directive,” SRZ Audio Conference Series, 8 May 2009

“Publicly Offered Hedge Funds in Europe — New Possibilities for UCITS Products,” SRZ Audio Conference Series, 17 March 2009

Memberships

  • Alternative Investment Management Association (AIMA)
    • Previous Head of US Regulation Committee 
    • Previous Head of US Financial Reforms Working Group

Distinctions

Named as a leading hedge fund lawyer in: 

    • Chambers Europe
    • Chambers UK
    • Financial News 40 Under 40 Rising Stars of Hedge Funds 2012
    • Financial News 40 Under 40 Rising Stars of Legal Services 2013
    • IFLR1000
    • The Legal 500 UK
    • PLC Cross-border Investment Funds Handbook
    • Who’s Who Legal: The International Who’s Who of Private Funds Lawyers

Prior Experience

  • Shearman & Sterling