Business Law

Investor Services

Investment transactions continue to become more complex as innovative investment products are developed and sold. Investors seek to improve their returns by investing in these new products. So-called “alternative investments” have become an important part of the portfolio of the institutional investor. These investments demand sophisticated legal analysis, a knowledge of the existing market, and a knowledge of the particular laws and regulations to which each type of institutional investor is subject. Quarles & Brady has always been, and continues to be, unique in its attention to the investors and has a team of professionals focused on their particular legal needs.

Our Clients

Tax-Exempt Entities. Our team represents various tax-exempt organizations, including universities, foundations, public charities, pension funds, hospital/health systems, and state agency fiduciaries.

  • We advise tax-exempt clients regarding unrelated business taxable income (UBTI), including unrelated debt-financed income, in connection with their investments.
  • We counsel private foundation clients on specific provisions of the Internal Revenue Code that may affect investment activities, such as the prohibitions on excess business holdings, self-dealing, and jeopardizing investments.
  • We work with fund managers to avoid penalty taxes, minimize income tax burdens and negotiate withdrawal rights or other appropriate remedies for tax-exempt clients.
  • We work closely with our clients to comply with state laws, such as the Uniform Prudent Management of Institutional Funds Act (UPMIFA).
  • On behalf of clients that invest pension plan assets, we review fund documents and fund structure to ensure that a fund’s assets do not become ERISA plan assets.

Our Practice

  • private fund investments
  • secondary fund transfers.
  • investment management agreements
  • custody agreements
  • investment policies
  • derivatives and other investment products
  • mission-related investments