Leading Regulatory Lawyer Joins Paul, Weiss’s Investment Management Practice
April 4, 2022 Read the press release
Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Aaron J. Schlaphoff has joined the firm as a partner in the Private Funds Group within the Corporate Department, based in New York. Mr. Schlaphoff, a seasoned asset management industry practitioner, advises some of the largest global investment firms on a wide range of legal, regulatory and compliance matters.
“Aaron has a nuanced understanding of some of the most complex and business-critical regulations that impact many of our alternative asset management clients every day, and we are delighted he is joining our partnership,” said Paul, Weiss Chairman Brad S. Karp.
“Aaron joins our firm at a time when our fund formation and advisory practice is growing at a breakneck pace, and the need for his sophisticated regulatory counsel has never been greater,” said Marco V. Masotti, global co-head of Paul, Weiss’s Private Funds Group. “With his high-level perspective on the dynamics of the SEC’s decision-making and policy processes, Aaron brings invaluable experience and insight to our firm and our clients.”
“I have a great admiration and respect for Paul, Weiss’s market-leading investment management practice, which is helping launch many of the largest and most innovative new funds in the market,” Mr. Schlaphoff said. “This is an exciting and pivotal time to be working in the asset management industry, and I am thrilled with the opportunity to contribute to the group’s continued success.”
“Given his experience in the SEC’s Division of Investment Management, Aaron will be a great asset to our firm and clients in an increasingly complex funds landscape,” said Udi Grofman, global co-head of Paul, Weiss’s Private Funds Group. “His experience further strengthens our group’s regulatory capabilities and will enable us to continue to provide best-in-class investment management advice.”
Mr. Schlaphoff is an accomplished investment funds attorney who advises many large, sophisticated global asset management firms on the structuring, offering and ongoing operations of alternative funds, including private equity and private credit funds, hedge funds, business development companies (BDCs) and registered alternative investment funds, with particular emphasis on regulation under the Investment Advisers Act, Investment Company Act, Commodity Exchange Act and related securities and banking laws and regulations. A substantial portion of his practice also involves advising on regulatory and compliance matters in connection with asset management M&A and capital markets transactions.
While serving as an attorney fellow at the SEC’s Division of Investment Management from 2014 to 2016, Mr. Schlaphoff contributed to a wide range of matters relating to investment advisers and vehicles subject to SEC regulation. In the private funds area, Mr. Schlaphoff advised the Office of Compliance Inspections and Examinations (now the Division of Examinations) and the Division of Enforcement on interpretive matters under the Advisers Act, as well as on market practice in the private equity and hedge fund industries. Mr. Schlaphoff was also closely involved in proposed rulemaking relating to the use of derivatives by registered funds and BDCs and worked with various SEC divisions and offices on derivatives-related policy and legal matters. He also participated in the SEC’s work with representatives of the Financial Stability Oversight Council and the Financial Stability Board analyzing the potential impact of asset management activities on U.S. and global financial stability.
Mr. Schlaphoff is an active writer and speaker on issues pertaining to investment funds and regulatory compliance. He earned his B.A., cum laude, in Mathematics and Political Science from Macalester College and was a Fulbright Fellow at the University of Cologne in Germany. He earned his J.D. from Yale Law School.
Paul, Weiss’s Investment Management practice has successfully raised hundreds of billions of dollars on behalf of asset managers across the liquidity spectrum, including private equity funds, credit funds, venture capital funds, real estate and infrastructure funds, hybrid funds and social impact funds.