Ms. Kawata is co-head of Davis Polk’s Investment Management/Private Funds Group. She advises clients on the formation and operation of private investment funds and other investment vehicles exempt under the U.S. Investment Company Act, including private equity funds, hedge funds, venture capital funds, fund of funds and funds investing in particular sectors or countries. She also advises clients on the establishment and operations of private fund managers, including private equity and hedge fund firms.
In the private funds practice, Ms. Kawata advises clients on the full spectrum of legal and marketing considerations involved in establishing private funds with diverse investment strategies that are marketed to investors on a worldwide basis, including institutional investors and high net worth individuals. She also advises fund sponsors seeking to establish “carried interest” plans and other profit-sharing arrangements for their employees, as well as various types of after-tax and phantom employee investment programs. In addition, her practice includes the representation of institutional investors seeking to invest in private funds, such as private equity funds, venture capital funds and hedge funds.
She advises numerous private funds and private fund sponsors and advisers as to the regulatory considerations applicable to their ongoing operations and investment activities, including compliance with the U.S. Investment Advisers Act and the U.S. Investment Company Act. Her practice includes compliance reviews of hedge fund managers and private equity fund managers under the Investment Advisers Act, as well as advice on the effect of a private fund’s investment activities on the ongoing operations of other businesses affiliated with the private fund. In addition, Ms. Kawata has obtained exemptive relief from the SEC for employee investment funds as “employees’ securities companies” under the Investment Company Act.
Listed as a leading private equity fund formation lawyer in several legal industry publications, including:
Band 1, USA: Investment Funds: Private Equity: Fund Formation – Chambers Global 2015
Band 1, Nationwide: Investment Funds: Private Equity: Fund Formation – Chambers USA 2015
Chambers Global: The World’s Leading Lawyers for Business
IFLR1000: Guide to the World’s Leading Financial Law Firms
Legal Media Group’s Expert Guide to the World’s Leading Private Equity Lawyers, Expert Guide to the World’s Leading Lawyers–Best of the Best and Expert Guide to the World’s Leading Investment Funds Lawyers
Legalease’s The Legal 500 (United States)
Co-author of Advising Private Funds: A Comprehensive Guide to Representing Hedge Funds, Private Equity Funds and Their Advisers, West (2010-2014 ed.)
Co-author of “Get Ready for Tons of Paperwork,” Buyouts (February 14, 2011)
Frequent chair or panelist in a number of PLI, IBA and other conferences on various topics relating to private investment funds, including the Chair of the PLI Annual Private Equity Forum