Proskauer Rose LLP

Private Equity: Fund Formation Department

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What the team is known for Maintains an outstanding reputation as a go-to firm in the alternative asset marketplace, acting for investors and sponsors. Represents leading clients in sophisticated transactions, both in the USA and throughout the world. Recognized in particular for its experience representing venture capital firms across the technology and life sciences sectors. Also able to advise on the full range of regulatory matters affecting players in the private funds space.

Strengths"It's been a very productive partnership," reports a client; "they're the best in the business in our view. They have exceptional market knowledge and a great network and understanding."

Observers appreciate that "clients always get a timely and thorough response; they're always good at carving time out for you."

A source describes the team as "exceptionally sharp, with a correct focus on providing great advice and getting the deal done. They have a wide range of experience with both investors and general partners across the globe and a very deep bench of talent from senior partners down through associates."

Work highlights Advised Lexington Partners on the formation of Lexington Middle Market  Investors IV with $2.66 billion in commitments.

Notable practitioners

David Tegeler is regularly sought after by asset managers and institutional investors for assistance with the formation and structuring of private equity funds. His practice also encapsulates transactions carried out by funds and regulatory concerns.

Howard Beber "is awesome," enthuses an observer; "he's balanced, smart, well connected, practical and inventive." He routinely advises institutional investors and sponsors on the full range of fund formation matters.

Robin Painter stands out for her high-level experience in advising some of the market's most high-profile fund sponsors. "She has developed a great practice," says one peer, with another noting her "blue-chip list of clients; she's certainly the dean of the industry."

Stephen Mears focuses his fund formation practice around work for venture capital sponsors. "You won't find a better technical lawyer than Stephen in fund formation," enthuses a fellow practitioner; "he's very well regarded."