This website uses cookies to improve your experience on the site. By continuing to use this site, you agree to the use of cookies. To learn more about how we use cookies, please see our Cookie Policy.

Asset Management

Davis Graham & Stubbs LLP has one of the most active asset management practices in the Rocky Mountain West. We have served asset management clients since 1960; those clients include investment advisers, registered open- and closed-end investment companies, hedge funds, broker dealers, venture capital sponsors, and private equity and real estate investment vehicles.

At present, we represent over 33 registered investment advisers (most of whom are SEC registered), with approximately $37 billion of assets under management. These advisers serve clients in the mutual fund, hedge fund, venture capital fund, and real estate fund industries, as well as offer financial planning services and separate account management. We also represent the independent trustees and funds, as applicable, of several mutual fund complexes (comprised of nearly 120 funds) with over $15 billion of assets under management. These open- and closed-end mutual funds encompass traditional retail and variable insurance product platforms, including municipal bond funds and alternative investment funds.

We also have extensive experience representing investment advisers, broker dealers, and other financial service companies, as well as private equity firms that invest in these types of companies, in significant corporate transactions, including mergers, acquisitions, divestitures, and investment transactions. In this capacity, we advise our clients on all legal aspects associated with these transactions, including structuring, analysis of tax consequences, due diligence, and preparation and negotiation of definitive transaction documents. Importantly, we are also intimately familiar with the issues unique to this industry with respect to these types of transactions, including regulatory approvals and requirements, retention of key personnel, and allocation of market-based risk.

The size and sophistication of our practice gives us a deep understanding of a wide variety of fund structures, investment alternatives, and regulatory issues. And because we work with funds, investment advisers, real estate groups, venture capitalists, and private equity firms every day, we are able to stay current on new and evolving deal terms as the investment marketplace changes.

We have extensive fund formation experience with mutual funds, hedge funds, private equity funds, venture capital funds, real estate funds, and other investment vehicles. We advise our clients on appropriate management structures, prepare governing documents incorporating the control, transfer, and tax concerns of managers and their investors, and review marketing materials and other business activities for compliance with applicable laws. We provide advice on the registration or qualification of securities offered and sold by these pooled vehicles under the federal and state securities laws. Our asset management attorneys also work with investment advisers on issues arising under securities, corporate, tax, intellectual property, employment, and employee benefits laws. We counsel on operational aspects of funds, including trading arrangements, compliance with reporting obligations, investor-related obligations, and, where appropriate, fund adoption, replication, or liquidation.

Our asset management team is widely recognized as one of the best mutual funds practices in the region. We are one of the few Rocky Mountain firms to have been frequently recognized with a national ranking for Mutual Funds Law in the Best Lawyers® “Best Law Firms” guide. A co-chair of our Asset Management Group has been twice individually recognized by Best Lawyers® as Denver’s Mutual Fund Lawyer of the Year. Additionally, many of our other lawyers are also individually recognized by Best Lawyers®, Super Lawyers and other similar organizations.

Representative Experience

  • Estancia Capital Partners, an independent private equity firm, in its equity investment in several portfolio companies, including Sustainable Growth Advisers and Redwood Investments, LLC.
  • Lovell Minnick Partners, a Philadelphia-based private equity firm, in investment and sale transactions involving multiple registered investment advisers, broker dealers and other financial services companies, including National Auto Care, Omni Healthcare, and Pathstone.
  • First Allied Securities, Inc., a registered broker dealer and investment adviser, in its acquisition of Legend Financial Group and subsequent sale of the company to another financial services firm.
  • 361 Capital, an asset management firm specializing in liquid alternative investments, in its investment from a private equity firm.

Related Attorneys

Alena Prokop

Partner, Executive Compensation, Mergers & Acquisitions, Private Equity, Public Companies & Capital Markets, Asset Management

Peter H. Schwartz

Partner, Asset Management, Mergers & Acquisitions, Nonprofit & Tax-Exempt Organizations, Private Equity, Public Companies & Capital Markets, Hospitality

S. Lee Terry, Jr.

Partner, Asset Management, Mergers & Acquisitions, Private Equity, Public Companies & Capital Markets, Securities Enforcement & Litigation, Intellectual Property & Technology Transactions, Technology Company & Technology Transactions, Executive Compensation, Crisis Management

Stephanie Danner

Associate, Asset Management

Martine Ventello

Associate, Mergers & Acquisitions, Private Equity, Public Companies & Capital Markets, Corporate Governance, Asset Management

Laurence E. Nemirow

Special Tax Counsel, Nemirow Law LLP, Tax, Asset Management, Mergers & Acquisitions, Executive Compensation, Employee Benefits, Clean Energy & Sustainability

News & Events

Asset Management Regulatory Update

Table of Contents: SEC Adopts Amendments to Enhance Private Fund Reporting SEC Charges Investment Adviser and Fund Trustees with Liquidity...

Colorado Division of Securities Adopts Amendments to Investment Adviser Rules | Part 3

This is the third in a three-part series discussing the new and amended rules (collectively the “Rules”) adopted by the...

DGS Legal Alert: Colorado Division of Securities Adopts New Investment Adviser Compliance Program Rule | Part 2

This is the second in a three-part series discussing the newly amended rules (collectively the “Rules”) adopted by the Colorado...

DGS Legal Alert: Colorado Division of Securities Adopts New Investment Adviser Continuing Education Rule | Part 1

The Colorado Division of Securities (“Division”) has adopted new and amended rules (collectively the “Rules”) applicable to certain Colorado investment...

Asset Management Regulatory Update

Table of Contents Divison of Examinations Releases 2023 Examination Priorities Division of Examinations Release Observations from Examinations of Newly-Registered Advisers...

Early Lessons for Asset Managers from COVID-19 Webinar

This webinar will review the early lessons learned from the impact of COVID-19 on the asset management industry. We will...

Colorado Compliance Roundtable: Effectively Safeguarding and Using Intellectual Property

Davis Graham & Stubbs LLP is pleased to invite you to join us for the next installment of the Colorado...