Partner, Co-head of U.S. Investment Funds, New York
Education and qualifications
David is a partner in Linklaters' New York office and co-head of the U.S. Investment Funds practice. David focuses his practice on advising asset managers and institutional investors with respect to investments in managed accounts, funds of one and private investment funds, including private equity funds, real estate funds, credit funds, venture capital funds and hedge funds, both domestically and internationally. He has vast experience with all stages of the investment process, including the initial due diligence review, the analysis, prioritization and presentation of commercial and legal comments, the negotiation and finalization of all related documentation, and the coordination of 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 on their secondary market transactions, including traditional portfolio sales, structured secondaries, stapled secondary offerings and other complex secondary transactions. In addition, he advises fund sponsors in connection with 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, 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.
David is ranked in Euromoney's Banking, Finance and Transactional 2022 Expert Guide under Investment Funds, which recognizes individuals considered by peers and clients to be the best in their respective fields in the legal industry.
David has represented a diverse group of asset managers and institutional investors, including, among others:
- A number of large U.S. corporate pension trusts, advising on
- investments in, and co-investments alongside, a range of private investment funds, including private equity, venture capital, credit and real estate funds;
- participation in various GP-led secondary transactions; and
- multiple secondary sales of portfolios of interests in private investment funds.
- A number of foundations, endowments and family offices: advising on investments in a range of private investment funds, including private equity, venture capital, credit and real estate funds
- A large U.S. asset manager, advising on:
- investments in a range of private investment funds, including private equity and venture capital funds;
- participation in various GP-led secondary transactions;
- the sale of a portfolio of over 350 private fund and co-investment interests to a joint venture buyer; and
- 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.
- A large U.K. financial institution: advising on the sale of a portfolio of private fund interests to a U.S. strategic buyer.
- A large sovereign wealth fund: advising on the sale of a portfolio of energy fund interests to a U.S. investment bank.
- A large Asian financial institution: advising on the sale of a portfolio of private fund interests to a U.S. strategic buyer.
- Moderator, “Navigating Fund Operations & Formation Including Regulatory and Structural Considerations,” Market Group’s 10th Annual Private Equity New York Forum, May 2022
- David and Jason Behrens, Partner in Linklaters’ Investment Funds practice, offered their GP/LP private equity market insights in Private Equity Law Report’s article mentioning their arrival to Linklaters, entitled “Linklaters Adds Two New Partners to Its Investment Funds Group in New York,” November 2019
David spoke 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
Education and qualifications
David received his B.A. from the University of Maryland, Baltimore County and holds a Juris Doctorate from the New York University School of Law, where he was also editor of Review of Law and Social Change.
David is a member of the New York and California Bars.