Hedge funds represent one of the most complex sectors of the financial services industry, with over eight thousand hedge funds managing over one trillion dollars in assets. Steptoe represents some of the largest and most sophisticated hedge funds in existence. We have represented hedge fund clients in a variety of sensitive SEC and other regulatory investigations and proceedings, and in litigation and arbitration of securities and common-law claims. Our team also has extensive experience in addressing and resolving litigation and other disputes arising from a broad range of complex financial transactions, including those involving swaps and derivatives. We also help these clients manage and pursue business and commercial litigation claims relating to companies that are among their portfolio investments.
Our Tax Group and ERISA Groups, often working together on IRS and Department of Labor issues, work extensively with hedge funds. These issues cover a broad spectrum, from the tax-based rules for qualified pension plans, to fiduciary issues, welfare benefits, and plan termination. We often focus on fiduciary issues, including prohibited transaction exemption questions under ERISA, especially in connection with financial products.