Overview

Samuel Francis is a partner in the Investment Funds Practice Group in the New York office of Kirkland & Ellis LLP. He advises prominent private equity sponsors on all aspects of private fund formation and operation, including private equity, infrastructure, real estate, credit and hedge funds, as well as the organization of separately managed accounts and co-investment vehicles. In addition, he has extensive regulatory and compliance experience with investment adviser registration and ongoing requirements, implementing policies and procedures, examining and remediating issues, preparing marketing materials and reviewing government filings and investor reports.

Samuel also advises on mergers, acquisitions and other transactions involving asset managers, such as seed and stake deals, as well as structuring and negotiating their underlying funds’ portfolio investments, including secondaries and rollovers. His work encompasses a wide range of management company matters relating to ownership and compensation arrangements, organizational restructurings, foreign affiliates, family offices and the establishment of bank, broker, exchange, placement agent and other counterparty relationships.

Samuel has published articles on a variety of investment management topics, including in Lexis Practice Advisor, The Investment Lawyer, Journal of Investment Compliance and Journal of Derivatives & Hedge Funds. Recently, he authored an article published by Private Equity Law Report which discussed practical considerations for fund managers when determining whether to treat a single investor fund client as a pooled investment vehicle or a separately managed account under the custody rule and Form ADV.

Samuel received his J.D., magna cum laude, from Fordham University School of Law in 2010, where he was a member of the Fordham Law Review. He earned his B.S., summa cum laude, from Brooklyn College of the City University of New York in 2006. Samuel is admitted to practice in New York, and is also licensed as a certified public accountant in New York.

More

Thought Leadership

Publications

“Considerations for Advisers to Properly Classify Single Investor Funds Under the Custody Rule and Form ADV,” Private Equity Law Report and Hedge Fund Law Report, 2020

“Investment Adviser Change of Control Transactions: Obtaining Client Consent," Lexis Practice AdvisorPrivate Equity & Investment Management, 2017

“The Assignment of Investment Advisory Contracts in M&A Transactions,” The Investment Lawyer, Vol. 20, No. 12, 2013

“May Foreign Benefits Plans Invest in New Issues Under FINRA Rules 5130 and 5131,” Journal of Investment Compliance, Vol. 13, No. 3, 2012

“How to 'Mark-To-Market' When There is No Market,” Journal of Derivatives & Hedge Funds, Vol. 17, No. 2, 2011

“Meet Two-Face: The Dualistic Rule 10b-5 and the Quandary of Offsetting Losses by Gains,” Fordham Law Review, Vol. 77, No. 6, 2009

Recognition

First Place Award, Association of Securities and Exchange Commission Alumni, Inc. (ASECA) Writing Competition, 2009

Memberships & Affiliations

Member, New York State Bar Association

Trustee, Peninsula Public Library

Credentials

Admissions & Qualifications

  • 2010New York

Education

  • Fordham University School of LawJ.D.magna cum laude2010

    Order of the Coif

    Fordham Law Review

    Evening Student of the Year

    Adele L. Monoco Memorial Award

    Joseph R. Crowley Award

    Fordham Law Alumni Association Award in Constitutional Law

  • Brooklyn CollegeB.S., Accountingsumma cum laude2006
    New York Lottery Leaders of Tomorrow Scholarship

Other Distinctions

Certified Public Accountant