Stephanie R. Breslow is co-head of the Investment Management Group and a member of the firm’s Executive Committee and Operating Committee. She maintains a diverse practice that includes liquid funds, private equity funds and the structuring of investment management businesses. She focuses her practice on the formation of private equity funds (including LBO, mezzanine, distressed, real estate and venture) and liquid-securities funds (including hedge funds, hybrid funds, credit funds and activist funds) as well as providing regulatory advice to investment managers. She also represents fund sponsors and institutional investors in connection with seed-capital investments in fund managers and acquisitions of interests in investment management businesses and funds of funds and other institutional investors in connection with their investment activities, including blockchain technology and virtual currency offerings and transactions.

Recently serving as chair of the Private Investment Funds Subcommittee of the International Bar Association, Stephanie is a founding member and former chair of the Private Investment Fund Forum, a member of the Advisory Board of former Third Way Capital Markets Initiative, a former member of the Board of Directors and current member of 100 Women in Finance, a member of the Board of Visitors of Columbia Law School and a member of the Board of Directors of the Girl Scouts of Greater New York. Stephanie has received the highest industry honors. She was named to the inaugural Legal 500 US Hall of Fame in the category of “Investment Fund Formation and Management: Alternative/Hedge Funds.” Stephanie is also listed in Chambers USA: America’s Leading LawyersChambers Global: The World’s Leading LawyersCrain’s Notable Women in Law, IFLR1000Best Lawyers in AmericaWho’s Who Legal: The International Who’s Who of Business Lawyers (which ranked her one of the world’s “Top Ten Private Equity Lawyers”), Who’s Who Legal: The International Who’s Who of Private Funds Lawyers (which ranked her at the top of the world’s “Most Highly Regarded Individuals” list), Expert Guide to the Best of the Best USAExpert Guide to the World’s Leading Banking, Finance and Transactional Law Lawyers, Expert Guide to the World’s Leading Women in Business Law and PLC Cross-border Private Equity Handbook, among other leading directories. Stephanie was named the “Private Funds Lawyer of the Year” at the Who’s Who Legal Awards 2014 and the Euromoney Legal Media Group’s “Best in Investment Funds” at the inaugural Americas Women in Business Law Awards. She is also recognized as one of The Hedge Fund Journal’s 50 Leading Women in Hedge Funds and was named one of the 2012 Women of Distinction by the Girl Scouts of Greater New York. Stephanie’s representation of leading private investment funds has won numerous awards, including most recently Law360’s Asset Management Practice Group of the Year. She is a much sought-after speaker on fund formation and operation and compliance issues, and she regularly publishes articles on the latest trends in these areas. Stephanie co-authored Private Equity Funds: Formation and Operation (Practising Law Institute), co-authored Hedge Funds: Formation, Operation and Regulation (ALM Law Journal Press), contributed a chapter on “Hedge Fund Investment in Private Equity” for inclusion in PLC Cross-border Private Equity Handbook 2005/06 (Practical Law Company), contributed a chapter on “Advisers to Private Equity Funds — Practical Compliance Considerations” for Mutual Funds and Exchange Traded Funds Regulation, Volume 2 (Practising Law Institute), and wrote New York and Delaware Business Entities: Choice, Formation, Operation, Financing and Acquisitions (West) and New York Limited Liability Companies: A Guide to Law and Practice (West).

Publications

Books

Hedge Funds: Formation, Operation and Regulation (ALM Law Journal Press), 2013-2018 (co-author)

Private Equity Funds: Formation and Operation (Practising Law Institute), 2009-2018 (co-author)

New York and Delaware Business Entities: Choice, Formation, Operation, Financing and Acquisitions (West), September 1997 (co-author)

New York Limited Liability Companies: A Guide to Law and Practice (West), March 1995 (co-author)

Articles

“Thought Leaders Global Elite 2019,” Who's Who Legal, January 2019 (interview)

“Co-investments: Who’s dealing in?,” HFM InvestHedge, December 2018 (quoted)

“Video: How to Fund Products in the Digital Assets/Blockchain Space,” Legaltech News, March 2018 (video)

“Thought Leaders 2018: Stephanie R. Breslow,” Who's Who Legal, January 2018 (interview)

“The Growing Interest in Cryptocurrencies: Q&A with SRZ's Blockchain Technology & Digital Assets Group,” The Hedge Fund Journal, December 2017 (interview)

“LabCFTC Releases Primer on Virtual Currencies,” SRZ Alert, Oct. 18, 2017 (co-author)

“Succession Planning - Preserving a Hedge Fund’s Business and Legacy: The Keys to a Robust Succession Plan,” Hedge Fund Legal & Compliance Digest, August 2017 (quoted)

“Recent Trends in Alternative Funds,” Best of the Best USA Expert Guide 2017 (co-author)

“Thought Leaders 2017: Stephanie R. Breslow,” Who's Who Legal, January 2017 (interview)

“Trends and Practical Considerations for Negotiating and Implementing Investor Side Letters in the Current Environment,” Hedge Fund Legal & Compliance Digest, November 2016 (quoted)

“Ringing the Changes,” Private Funds Management, November 2016 (interview)

“Co-Investments with SRZ’s Leading Fund Formation Group,” The Hedge Fund Journal, March 2016 (quoted)

“Succession Planning with SRZ’s Leading Fund Formation Group,” The Hedge Fund Journal, March 2016 (quoted)

“Private Funds 2016: Discussion,” Who’s Who Legal, November 2015 (interview)

Profiled in “Stephanie Breslow, SRZ’s Leading Investment Management Practice,” The Hedge Fund Journal, Aug. 26, 2015

“Marketing Private Equity Funds,” Practical LawPrivate Equity and Venture Capital Multi-Jurisdictional Guide, July 2014 (co-author)

Contributor, Fund Formation and Incentives Report (SRZ in association with Private Equity International), April 2014

“Co-Investments Enable Hedge Fund Managers to Pursue Illiquid Opportunities While Avoiding Style Drift (Parts One, Two and Three),” The Hedge Fund Law Report, February/March 2014 (quoted)

“Advisers to Private Equity Funds — Practical Compliance Considerations,” Mutual Funds and Exchange Traded Funds Regulation, Volume 2, 3rd Edition (Practising Law Institute), 2013 (co-author)

Profiled in “Voice of Experience: Stephanie Breslow, Partner & Co-Head of Investment Management Group, Schulte Roth & Zabel,” The Glass Hammer, Dec. 17, 2012

Profiled in “Liquidity: Schulte Partner Stephanie Breslow Discusses Hedge Fund Liquidity Management Tools in Practising Law Institute Seminar,” The Hedge Fund Law Report, Nov. 15, 2012

“PLC Practice Note: Structuring Waterfall Provisions,” Practical Law The Journal, June 2011 (co-author)

“‘Alternative’ Investment Managers and Bankruptcy: The Brave New World of Chapter 11,” Journal of Private Equity/Turnaround Management, Spring 2007 (co-author)

“Hedge Fund Investment In Private Equity,” PLC Cross-border Private Equity Handbook 2005/06 (Practical Law Company)

“Hedge Funds in Private Equity,” SRZ Investment Management Developments, Fall 2005

“Distressed and Vulture Funds Structure and Formation,” SRZ Private Equity Developments, Spring 2005

“Seventh Circuit Partially Reverses SEC Ruling on Allocations,” Investment Management Developments, Winter 2005

“Use of ‘Target’ Returns Lead to NASD Enforcement Action,” SRZ Investment Management Developments, September 2004

“Planning for Hedge Fund Manager’s Succession,” Institutional Investor’s Alpha, April 2004

“Issues in Structuring Ownership and Compensation for Key Personnel of Private Investment Funds,” The Capital Guide to Offshore Funds, 2000 edition (co-author)

Speaking Engagements

“In the Huddle: Law Firm Leaders Share Business Development Techniques,” PLI All Star Business Development for Lawyers Webinar, March 2019

“Blockchain and Digital Assets” and “Market Update: Terms, Customized Products and Co-Investment Vehicles,” SRZ 28th Annual Private Investment Funds Seminar, New York, January 2019 

“Keynote Fireside Chat,” New York State Society of CPAs Alternative Investment Fund Conference, November 2018

“Litigation Finance,” SRZ 6th Annual Private Equity Fund Conference, May 2018

“Bitcoins, Cryptocurrencies and Investment Funds,” IBA 29th Annual Conference on the Globalisation of Investment Funds, May 2018

“Issues of the Day for Alternative Asset Managers,” PLI Investment Management Institute, March 2018

“Key Trends Relating to Digital Asset Funds,” IBA 19th Annual International Conference on Private Investment Funds, March 2018

“Cryptocurrency, Alternative Data and Blockchain” and “A Conversation with Nelson Peltz, Trian Fund Management,” SRZ 27th Annual Private Investment Funds Seminar, New York, January 2018

“Industry Insights and Key Business Challenges,” Ernst & Young 13th Annual Global Hedge Fund Symposium, November 2017

SRZ Investing in Digital Assets and Blockchain Technology Webinar, August 2017

“Operational Best Practices,” SRZ 5th Annual Private Equity Fund Conference, May 2017

“Issues of the Day for Alternative Asset Managers,” PLI Investment Management Institute, March 2017

“Key Trends Relating to Hedge Funds,” IBA 18th Annual International Conference on Private Investment Funds, March 2017

“Challenges Terminating Old Funds and Launching New Ones,” “Tax Outlook” and “Attracting and Retaining Capital,” SRZ 26th Annual Private Investment Funds Seminar, January 2017

Ernst & Young Hedge Fund Symposium, November 2016

“Regulatory and Enforcement,” SRZ 4th Annual Private Equity Fund Conference, May 2016

Co-Chair, IBA 17th Annual International Conference on Private Investment Funds, March 2016

“Issues of the Day for Alternative Asset Managers,” PLI Investment Management Institute, March 2016

“Private Funds: The New Banks” and “Recent Examinations: Substantive Areas of Regulatory Focus,” SRZ 25th Annual Private Investment Funds Seminar, January 2016

Ernst & Young Hedge Fund Symposium, January 2016

“Fund Facts for Corporate Lawyers — What You Need to Know About the ‘40 Act,” PLI 47th Annual Securities Regulation Institute, October 2015

“Trends in Private Equity Fund Structuring,” IBA Annual Conference Vienna, October 2015

Moderator, SRZ and MFA Credit Funds: Structuring & Management Panel, September 2015

“Hedge Funds in Crisis,” PLI Hedge Fund Management, September 2015

“Co-Investments,” SRZ 3rd Annual Private Equity Fund Conference, June 2015

Co-Chair, IBA 16th Annual International Conference on Private Investment Funds, March 2015

“Issues of the Day for Alternative Asset Managers,” PLI Investment Management Institute, March 2015

Harvard Law School Women's Alliance, Women Leaders in Hedge Funds, February 2015

“Co-Investments and Sidecars: Structuring Opportunities” and “Tax Considerations for 2015,” SRZ 24th Annual Private Investment Funds Seminar, January 2015

“Hedge Funds in Crisis,” PLI Hedge Fund Management, September 2014

“Private Equity Fund Compliance Update,” SRZ Webinar, July 2014

“Ongoing Operations and Firm Growth,” SRZ 2nd Annual Private Equity Fund Conference, June 2014

Fordham University Smart Woman Securities Third Annual Women in Leadership Conference, April 2014

“The Regulation of Private Fund Managers,” PLI Investment Management Institute, March 2014

“Running Hedge and Private Equity Strategies Side by Side” and “Shareholder Activism,” SRZ 23rd Annual Private Investment Funds Seminar, January 2014

“Marketing: Fund Terms,” SRZ Private Equity: Fund and Deal Terms Conference, October 2013

“Managing Hedge Funds in Crisis,” PLI Hedge Fund Management, September 2013

“General Overview of Private Equity Funds,” PLI 14th Annual Private Equity Forum, July 2013

“About the Funds,” Turnaround Management Association 16th Annual April Fools Event, April 2013

“The Regulation of Private Fund Managers,” PLI Investment Management Institute, March 2013

“Current Developments in the Secondary Market for Fund Interests,” SRZ 22nd Annual Private Investment Funds Seminar, January 2013

“Private Equity Fund Managers: Developments in Marketing, Compliance and SEC Exams,” SRZ Investment Management Hot Topics, November 2012

“Managing Hedge Funds Through Critical Issues,” Practising Law Institute Hedge Funds 2012: Strategies and Structures for an Evolving Marketplace Program, September 2012

“Conflicts of Interest and Other Ethics Issues,” Practising Law Institute 13th Annual Private Equity Forum, July 2012

Goldman Sachs Fifteenth Annual Hedge Fund Conference, May 2012

“The Foreign Corrupt Practice Act: How Funds Can Mitigate Risks,” SRZ Investment Management Hot Topics, May 2012

“Future of the Hedge Fund Industry,” Yeshiva University Event, May 2012

“Real Estate Funds: Terms and Trends” and “Relationships With Institutional Investors,” SRZ 21st Annual Private Investment Funds Seminar, January 2012

“Evolving Terms of Private Equity Funds,” SRZ Investment Management Hot Topics, December 2011

“Current Business Issues Facing the Industry,” Ernst & Young Hedge Fund Symposium, November 2011 

“Conflicts of Interest and Other Ethics Issues,” Practising Law Institute 12th Annual Private Equity Forum, July 2011

“Hedge Fund Challenges: The Broker-Dealer Perspective,” SIFMA Compliance & Legal Society Annual Seminar, March 2011

Organizing Committee, IBA 12th Annual Private Investment Funds Conference, March 2011

“Relationships with Investors,” SRZ 20th Annual Private Investment Funds Seminar, January 2011

“Private Equity Investment Adviser Registration,” SRZ Investment Management Hot Topics, December 2010

“Basic Hedge Fund Structures,” Hedge Funds: Strategies and Structures for an Evolving Marketplace, October 2010

“The Economic & Investment Roundtable,” Global Leadership Summit, September 2010

“Current U.S. and EU Regulatory Environment,” PLI 11th Annual Private Equity Forum, July 2010

“Central Clearing of Derivatives: What Investment Managers Need to Know,” SRZ Investment Management Hot Topics, June 2010

“Hedge Fund Challenges - The Broker-Dealer Perspective,” SIFMA CL 2010 Annual Seminar, May 2010

“Introduction to Hedge Funds,” Columbia Law School Class, April 2010

“Private Equity Deal Terms,” PLI Institutional Investor Forum, January 2010

“Positioning Your Fund for Distressed Investing,” SRZ 19th Annual Private Investment Funds Seminar, January 2010

“Regulation of Financial Institutions,” National Lawyers Convention, November 2009

“Liquidity Issues: Funds vs. Investors,” PLI 10th Annual Private Equity Forum, July 2009

“Private Equity Funds: New Investor Demands,” SRZ Investment Management Hot Topics, June 2009

“The Evolving Hedge Fund Structure,” Deutsche Bank’s Brave New World for Hedge Funds, June 2009

Guest Lecturer, “Introduction to Hedge Funds,” Columbia University, April 2009

“Managing Conflicts,” SIFMA-CL Annual Seminar, March 2009

Organizing Committee, 10th Annual International Conference on Private Investment Funds, March 2009

Coordinator, “Unwinding Hedge Funds,” New York City Bar, February 2009

“Fund Compensation Trends and Structures in the New Environment,” SRZ 18th Annual Private Investment Funds Seminar, January 2009

“Managing Fund Liquidity,” SRZ Greenwich Private Investment Funds Seminar, September 2008

“Debt-Oriented Funds,” PLI 9th Annual Private Equity Forum, July 2008

“New Issues in Regulation and Valuation of Alternative Investments,” IBA 19th Annual Conference on the Globalisation of Investment Funds, June 2008

“Investment Opportunities in Distressed Credit Markets,” SRZ Investment Management Hot Topics Seminar, April 2008

“Issues in Structuring Ownership and Compensation,” New York City Bar Association Hedge Funds Formation, Operation & Compliance Conference, April 2008

“Managing Conflicts – Hedge Fund Issues and Disclosure Issues for Investment Banks,” SIFMA Compliance & Legal Division’s 40th Annual Seminar, March – April 2008

“Strategic Investment in Fund Managers,” SRZ 17th Annual Private Investment Funds Seminar, January 2008

“Tax & Regulatory Considerations,” Practising Law Institute/Capital Roundtable Eighth Annual Private Equity Forum, July 2007

“Permanent Capital for Hedge Funds and Convergence of Fund Strategies,” Practising Law Institute Hedge Funds 2007 Conference, June 2007

“Hedge Funds Formation, Operation and Compliance,” New York City Bar Association Conference, May 2007

“Managing Conflicts,” SIFMA Compliance & Legal Division’s Annual Seminar, March 2007

“Tax, ERISA and Transatlantic Issues,” SRZ 16th Annual Private Investment Funds Seminar, January 2007

“Fund Formation Issues for Activist Funds,” Citigroup, December 2006

“New Hybrid Hedge Fund/Private Equity Firms – Recent Regulatory Issues and Due Diligence,” Harvard Club, December 2006

“Convergence of Hedge Fund and Private Equity Strategies,” Practising Law Institute’s Hedge Funds: The Changing Regulatory Landscape, September 2006

“Fundamentals of Hedge Funds: Structure and Investment Programs, Fee Arrangements and Tax Issues, Derivative Transactions with Hedge Funds, and Conflicts and Ethical Issues,” Citigroup, September 2006

“Off-Shore Hedge Funds,” Securities and Exchange Commission, Compliance Division, August 2006

“Recent Trends in Private Equity Funds,” Practising Law Institute Seventh Annual Private Equity Forum, July 2006

“Platform Development and Distribution,” Security Industry Association Hedge Funds & Alternative Investments Seminar, June 2006

“Structuring 202: Side Pocketing of Illiquid Securities,” Financial Research Associates Offshore Funds – Structure, Compliance & Operations Summit, May 2006

“Issues in Structuring Ownership and Compensation Arrangements for Key Personnel of Private Investment Funds,” New York City Bar Association Conference, May 2006

“Regulatory Sweeps: Past, Present & Future,” SRZ Hedge Fund Compliance Investment Management Hot Topics Seminar Series, March 2006

“Private Equity Funds: Structures, Terms & Conditions,” New York City Bar Association, February 2006

“Conflicts and Information Barriers,” SRZ 15th Annual Private Investment Funds Seminar, January 2006

“Hedge Funds in Private Equity Space,” SRZ International 4th Annual Hedge Funds Seminar, October 2005

“Structures for Employee Investment,” SRZ 14th Annual Private Investment Funds Seminar, January 2005

“Regulation and Registration: The Impact of Proposed Changes on Risk and Returns,” Morgan Stanley Alternative Investment Partners, May 2004

“Issues Facing Private Equity Firms in Structuring Carried Interest Programmes,” International Bar Association, March 2004

“The New Legal and Regulatory Landscape for Hedge Funds,” Blackstone Investor Conference, December 2003

Memberships

  • International Bar Association 
    • IBA Investment Funds Committee
      • Chair, Private Investment Funds Subcommittee, 2014-2016; Vice-Chair, 2012-2014; Secretary, 2009-2012
  • Wall Street Hedge Fund Forum
    • Founding Member and Steering Committee
  • Private Investment Fund Forum
    • Founding Member and Past Chair
  • Hedge Funds Care 
    • Committee of Hearts, 2003-2004
  • 100 Women in Finance
    • Member
    • Board of Directors, 2014-2016
  • Former Third Way Capital Markets Initiative
    • Advisory Board
  • The Joyce Theater, New York 
    • Board of Trustees
  • Columbia Law School
    • Board of Visitors
  • New York City Bar Association
    • Corporation Law Committee, 1993-1996 
    • Chair, Subcommittee on Business Trusts, 1995-1996 
    • Committee on the Revised Uniform Partnership Act, 1993-1996
  • Girl Scouts of Greater New York
    • Board of Directors

Distinctions

  • Listed as a leading private funds lawyer in many publications, including:  
    • The Best Lawyers in America
    • Chambers Global
    • Chambers USA
    • Expert Guide to the Best of the Best USA (Investment Funds)
    • Expert Guide to the World’s Leading Banking, Finance and Transactional Law Lawyers (Investment Funds, Private Equity)   
    • Expert Guide to the World's Leading Women in Business Law (Investment Funds)
    • IFLR1000
    • Lawdragon 500 Leading Dealmakers in America
    • The Legal 500 US
      • Hall of Fame
    • New York Super Lawyers
      • Top Women Attorneys in the New York Metro Area 
    • PLC Cross-border Investment Funds Handbook
    • Who’s Who Legal: The International Who’s Who of Private Funds Lawyers
      • Ranked as one of the world’s “Most Highly Regarded Individuals”
      • Ranked at the top of the world’s 2014 “Most Highly Regarded Individuals” list
    • Who’s Who Legal: The International Who's Who of Business Lawyers
      • Ranked as one of the world’s “Top Ten Private Equity Lawyers”
  • Named one of Crain’s Notable Women in Law
  • Named the “Private Funds Lawyer of the Year” at the Who’s Who Legal Awards 2014
  • Named a New York State Bar Association Empire State Counsel Honoree
  • Named one of The Hedge Fund Journal's 50 Leading Women in Hedge Funds
  • Named “Best in Investment Funds” at Euromoney Legal Media Group’s inaugural Americas Women in Business Law Awards
  • Named one of the 2012 Women of Distinction by the Girl Scouts of Greater New York