Udi Grofman is a partner in the Corporate Department, Global Co-Head of the firm’s Private Funds Group and a member of the Investment Management Group. Called a “leading light in the fund formation area” by Chambers, his practice focuses on fund formation, strategic advice and crisis management. Clients praise Udi as “nothing short of brilliant” with a “very rare commercial sensibility.” According to market commentators, Udi “possesses nonpareil legal expertise that crushes that of his counterparts at other firms” and he is a “powerhouse of a funds lawyer [who] works tirelessly to make clients happy.”
The Paul, Weiss Private Funds Group is recognized as one of the premier investment management practices in the United States. Chambers refers to the group as “a top shop” with “services [that] are second to none.” The team draws on “a strong bench of excellent lawyers with strong technical expertise, good market knowledge and a practical approach,” according to clients surveyed in The Legal 500. Recognized by Law360 as “Practice Group of the Year” for Fund Formation, Asset Management and Private Equity, and recipient of Chambers USA Client Service Award for Investment Funds, the practice continues to focus on advising clients on all aspects relating to the full lifecycle of the investment management firm.
Udi’s practice focuses on:
- fund formation along the liquidity spectrum, including hedge funds, credit funds, hybrid funds, private equity funds, real estate funds, venture funds, long-dated funds, permanent capital vehicles and family offices;
- strategic advice, including seed capital transactions, minority and majority asset manager acquisitions and dispositions, and “upper tier” arrangements; and
- crisis management, including internal investigations, regulatory examinations, investigations and litigation (in the course of which Udi appears frequently in front of regulators), partner and employee disputes, and investor litigation.
Representative clients include Apollo Global Management, The Blackstone Group/Blackstone Credit, HPS Investment Partners, Centerbridge Partners, KKR Credit, 3G Capital, Angel Island Capital, AQR Capital Management, Autonomy Capital, Bain Credit, BayPine, Bridgewater, D1 Capital, Davidson Kempner, Declaration Partners, Foresite Capital Management, Glenview Capital, GoldenTree Asset Management, Hudson Bay Capital, J.P.Morgan Asset Management, Key Square Capital Management, New York Life Investments, Nokota Management, Paloma Partners, PointState Capital, Pretium Partners, Strategic Value Partners, Tiger Global Management, Tilden Park, Two Sigma, Wafra Inc., XN LP, Omega Advisors and some of the country’s largest family offices, among others.
Consistently recognized as a leading practitioner in the investment funds industry, Udi is ranked as a Band 1 lawyer in Chambers USA, a Hall of Fame lawyer in The Legal 500, one of only a handful of recognized lawyers in IFLR1000 and one of Lawdragon’s 500 Leading Dealmakers. Who’s Who Legal deemed Udi one of their Global Elite Thought Leaders for private fund formation (one of only six lawyers in the U.S.), describing him as having “second-to-none funds expertise.”
Udi writes and speaks frequently on the challenges facing hedge funds in today’s market. Most recently, he co-authored an article for The Review of Securities & Commodities Regulation titled, “Life After the End of the Life of a Private Fund,” as well as a piece for Private Equity Law Report titled, “When East Meets West: Ten Considerations for VC Managers Launching ‘Evergreen’ Funds and Hedge Fund Managers Launching PE Funds.” He was selected among the finest law firm writers of 2016, along with litigation partner Richard A. Rosen, with a Burton Award for their article, “Political Intelligence and U.S. Insider Trading Regulations,” published in Bloomberg BNA’s Securities Regulation & Law Report. Udi is often asked to speak at major industry conferences, including those hosted by the International Bar Association, Practising Law Institute and Maples Investment Funds Forum. In 2020, Udi developed and chaired a new annual PLI program, “Advanced Issues in Private Funds,” which features in-depth discussions about fundraising dynamics and strategies, co-investment vehicles and upper-tier structures and tax considerations, among other topics. Udi also hosts an Annual Hedge Fund General Counsel Forum, which brings together the most prominent legal practitioners in the market to discuss recent trends and developments.
Udi maintains an active pro bono practice, representing not-for-profit interests and individuals, including recently assisting a number of individuals to obtain asylum in the U.S. He currently serves on the Board of Directors for the International Rescue Committee, a global humanitarian aid organization. Udi served as a lecturer for The Interdisciplinary Center-School of Law, School of Business Management, Herzliya, Israel and is a captain (ret.) in the Israel Defense Forces.