Strong growth driven by volatility
Sadis & Goldberg: Best Law Firm – The marketplace is in demand of Alpha and Beta. In view of this, the industry can expect to see strong growth with the launch of open-end funds and growth of assets under management due to the market’s recent ongoing volatility since March 2020.
With some exceptions, law firm Sadis & Goldberg has seen a shift from alternatives to more traditional assets classes such as global macro, credit and long short equity. “There are always exceptions as we continue to launch closed end funds focused on investment in real estate, insurance dedicated funds, life settlement, alternative finance such as litigation finance, as well as cannabis, and digital currency,” notes Ron Geffner a founding partner of Sadis & Goldberg, where he is one of the partners who oversees the Financial Services Group.
Over the last several years, the firm has launched in excess of 70 funds each year. Geffner comments: “Our client demographics are broad, as we are working with hedge funds, private equity funds, venture capital funds and real estate funds with managers domiciled in the United States and all of the financial centres around the world such as London and Dublin. The growth has not been limited to any individual sector.”
He outlines how there are currently two significant developments influencing the industry. On one hand, Covid-19 is challenging the stability of the global financial arena. Further, the US is experiencing unprecedented political risk which has not been witnessed in decades.
According to Geffner another hurdle clients are facing is the ever changing regulatory environment. In this context, communication with investors takes on even greater importance. He says: “We work intimately with our clients, not only educating them on the laws by which they are governed, but also as to commercial practice. We provide our clients with safety and aid their ability to read the green.”
To ensure Sadis & Goldberg maintains the high level of client service it provides, the firm has increased the size of its team in 2020. This was driven by increased complexity in the market and on behalf of clients. Geffner remarks: “As our clients continue to grow and as we onboard more institutional large asset managers, our clients are faced with more complex issues – operations, labour, global regulatory implications.”
The law firm pledges to continue to assist its clients in the institutionalisation of their businesses in the coming year.
Partner, Sadis & Goldberg LLP
Ron S Geffner is a founding member of the firm’s Executive Committee and also oversees the Financial Services Group. He regularly structures, organises and counsels private investment vehicles, investment advisory organisations, broker-dealers, commodity pool operators and other investment fiduciaries. Ron also routinely counsels clients in connection with regulatory investigations and actions. His broad background with federal and state securities laws, and the rules, regulations and customary practices of the SEC, Financial Industry Regulatory Authority, Commodities Futures Trading Commission and various other regulatory bodies, enables him to provide strategic guidance to a diverse clientele. He provides legal services to hundreds of hedge funds, private equity funds and venture capital funds organised in the United States and offshore.