David is a partner in the Investment Funds practice in Linklaters’ New York office. His practice is focused on advising asset managers and institutional investors with respect to investments in managed accounts and funds of one, and investments in, and co-investments alongside, private investment funds, including buyout, real estate, credit, venture capital and hedge funds, both domestically and internationally.
He has vast experience with all stages of the investment process, including conducting legal due diligence, analyzing, prioritizing and presenting commercial and legal comments, negotiating and drafting all related documentation, and coordinating the subscription process. He also routinely advises his clients with respect to a wide range of post-closing and portfolio maintenance matters.
David also regularly advises buyers and sellers with respect to secondary transactions, including traditional portfolio sales, structured secondaries, stapled secondary offerings, GP-led continuation vehicles, and other complex secondary transactions. In addition, he advises fund sponsors on matters related to the formation, operation and governance of private investment funds.
David has represented a diverse group of asset managers and institutional investors, including Aflac Asset Management, AIG Asset Management, Corebridge Financial, DuPont Capital Management, FCA U.S. LLC Master Retirement Trust, GE Asset Management (now State Street Global Advisors), Lilly Retirement Plan Master Trust, Intel Corporation Retirement Plans Master Trust, The National Railroad Retirement Investment Trust and U.S. Steel & Carnegie Pension Fund. Highlights include:
A number of foundations, endowments and family offices: advising on investments in a range of private investment funds, including buyout, venture capital, credit and real estate funds.
A number of large U.S. corporate pension trusts and U.S. insurance companies: advising on the investments in, and co-investments alongside, a range of private investment funds, including buyout, venture capital, credit and real estate funds. Also advising on their participation in various GP-led secondary transactions and multiple portfolio secondary sales.
AIG Asset Management: advising on a range of issues, including (i) the sale of a portfolio of over 350 private fund and co-investment interests to a joint venture buyer and (ii) the sale of a portfolio of over 25 private fund interests by way of a “mosaic” auction that resulted in approximately 10 unaffiliated U.S. and non-U.S. buyers.
Royal Bank of Scotland: advising on the sale of a portfolio of private fund interests to a U.S. strategic buyer.
AIMCo: advising on the sale of a portfolio of energy fund interests to a U.S. investment bank.
Sumitomo Mitsui Banking: advising on the sale of a portfolio of private fund interests to a U.S. strategic buyer.
Nippon Life Insurance Company: advising on the sale of a portfolio of private fund interests to a U.S. strategic buyer.
Citibank: advising on the formation of conduit investment funds for its private bank clients.
While attending New York University School of Law, David was editor of Review of Law and Social Change.
Moderator, “Navigating Fund Operations & Formation Including Regulatory and Structural Considerations,” Market Group’s 10th Annual Private Equity New York Forum, May 2022
Speaker on the subject of GP/LP Perspectives at the SRZ 7th Annual Private Equity Fund Conference, May 2019
David was a contributor to Private Equity Funds: Formation and Operation, Practising Law Institute, 2018
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