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Twentieth Annual Private Equity Forum

Speaker(s): Adi Herzberg, Amanda N. Persaud, Amran Hussein, Amyn Hassanally, Ann Gittleman, Edward S. Nadel, Gerald Adler, Giulianna K. Ruiz, Jonathan A. Goldstein, Joshua C. Liederman, Justin Storms, Krishnakshi Das, Laura S. Friedrich, Leor Landa, Michael S. Hong, Rachel A. Lavery, Rebecca F. Silberstein, Ross A. Oliver, Sara B. Zablotney
Recorded on: Jul. 15, 2019
PLI Program #: 252342

Amran Hussein is a partner in the Corporate Department and a member of the firm's Private Funds Group. Amran’s practice focuses on the organization and operation of private investment funds. Amran represents sponsors of a wide range of private investment funds, including buyout funds, growth equity funds and credit funds. She advises clients on the development, formation, marketing and operation of their funds, as well as on regulatory and compliance matters for funds and their management companies. Her representations have included multi-investor funds, fund-of-ones, separately managed accounts, fund of funds and co-investment funds. Amran’s funds practice has also included private equity fund spin-outs, investment management M&A transactions, secondary transactions and strategic joint venture arrangements.

Amran is widely recognized for her achievements by a number of industry publications. She was named “Best in Investment Funds” at the annual Euromoney Legal Media Group’s Americas Women in Business Law Awards and one of Crain’s New York’s “Notable Women in Law” in 2020. Recognized by Chambers for her work in private equity funds, clients praise Amran as “a wonderful lawyer; she’s terrific.” Amran was selected as one of the few Next Generation Lawyers for investment fund formation and management by The Legal 500, described as a “very hardworking lawyer” with “an immense depth of knowledge when it comes to underlying fund documentation and the fundraising marketplace.” According to Who’s Who Legal, Amran is “a go-to lawyer in the funds space,” and she is also recognized as a Highly Regarded Practitioner by IFLR1000

Amran speaks and writes regularly on a variety of topics relating to private funds, including as a panelist at IBA/ABA’s Annual International Conference on Private Investment Funds in London.

Amran was awarded the Africa House Hero Award by New York University Africa House for her advocacy work. She is also on the board of directors of The TEAK Fellowship, a non-profit dedicated to helping talented New York City students from low-income families gain admission to top high schools and colleges.

Amyn Hassanally is a Partner in the Investment Team at Coller Capital and is based in the Firm’s New York office.  Amyn joined Coller Capital in 2005 and is responsible for a variety of matters including the structuring, negotiation and execution of investments, overseeing the legal aspects of the Firm’s fundraising efforts and providing advice and guidance on a host of commercial and legal matters. 

Before joining Coller Capital, Amyn was an Associate in the Investment Management Group at Dewey Ballantine LLP in New York where he advised clients on fund formations, M&A transactions, venture capital financings and portfolio company matters. Amyn also practiced as an Associate in the Private Equity Group at Bingham McCutchen LLP in Los Angeles where regularly advised private equity general partners on a variety of transactions and fundraising efforts.

Amyn holds a BA from Brandeis University and a JD from the Duke University School of Law.

Ann Gittleman is a managing director for the Disputes and Investigations practice. Her practice is focused on providing expert forensic and dispute assistance in fraud, white collar matters, U.S. Regulatory investigations involving the Securities and Exchange Commission and Department of Justice, internal investigations, purchase price and post-acquisition disputes, international asset tracing engagements, controls review, Foreign Corrupt Practices Act (FCPA) reviews, accounting and auditor malpractice matters and related GAAP and GAAS guidance and damages. Ann additionally acts as a financial advisor in U.S. Bankruptcies and assists companies with complex accounting matters and financial statement restatements.

Based in New York, Ann has over 17 years of forensic accounting experience, during which time she led substantial international projects in the U.S., Europe, the Caribbean and China. Ann has been retained as a testifying expert in numerous matters, including those involving asset tracing, fraud and corruption, financial reporting, and the application of Generally Accepted Accounting Principles and Generally Accepted Auditing Standards and damages. She also frequently consults on complex accounting reporting and SEC matters.

Ann joined Duff & Phelps with the acquisition of Kinetic Partners, where she was a director and co-head of the New York Forensic & Dispute Services practice. Prior to this, Ann was an attorney at a prestigious New York law firm practicing securities litigation and providing in-house forensic accounting consulting services. Previously, Ann was the in-house forensic accountant at the Office of the General Counsel at PricewaterhouseCoopers (PwC), working on auditor negligence matters. Immediately prior to that, she was an auditor in the alternative investment management group at PwC in New York City, where she audited hedge funds, venture capital funds, private equity funds and commodity pools.

Ann received her J.D. from Brooklyn Law School and her B.S./B.A. in both accounting and computer information science from Bryant University. She is a Certified Public Accountant, Certified in Financial Forensics, a Certified Insolvency and Restructuring Advisor and Accredited in Business Valuation. Ann is also a licensed attorney (admitted in both New York and Massachusetts) and a member of the American Institute of Certified Public Accountants, the Association of the Bar of the City of NY and the Association of Certified Fraud Examiners.

Giulianna K. Ruiz is the General Counsel and Chief Compliance Officer of Trilantic Capital Management L.P. (“Trilantic North America”), a middle-market private equity firm focused on control and significant minority investments in North America within the Business Services, Consumer and Energy sectors.  Prior to joining Trilantic North America in 2014, Giulianna was an associate of the Private Funds Group of Paul, Weiss, Rifkind, Wharton & Garrison LLP, where from 2012 to 2013, she was seconded to Trilantic North America and from 2006 to 2012, she advised a variety of investment funds, including buyout funds, hedge funds, seed capital funds, real assets funds and fund of funds, as well as advising on investment management M&A transactions. Giulianna is a member of Hispanic National Bar Association and a volunteer mentor and Co-Leader of the high school section of Juniors Undertaking Manhattan’s Possibilities (JUMP), a non-profit organization run by the Grand Street Settlement, a New York City non-profit organization.  Giulianna holds a J.D., summa cum laude, from Seton Hall University School of Law and a B.A. from Columbia College, Columbia University, and is admitted to the New York State Bar. 

Jonathan Goldstein is a Partner in the Simpson Thacher & Bartlett LLPs tax department. Jonathan regularly advises on the tax aspects of industry-shaping transactions and serves as tax counsel in connection with numerous marquee private investment fund formations for clients which include Blackstone, EQT, Lexington Partners and Stonepeak. In addition, Jonathan provides guidance on corporate restructurings and bankruptcies, tax matters regarding financial institutions, and advises clients on the Foreign Account Tax Compliance Act (FATCA), as well as a wide range of other tax-related matters.

Jonathan was recently profiled by Law360 as a “Rising Star” in tax and was recognized in Chambers USA: America’s Leading Lawyers for Business.  Jonathan received his B.A., with distinction, from the University of Rochester in 2000 and his J.D., with high honors, from George Washington University in 2003, where he was elected Order of the Coif. Jonathan earned an LL.M. in Taxation in 2005 from New York University School of Law, where he was awarded the Harry J. Rudick Memorial Award for distinction in the LL.M. Taxation Program. Jonathan is admitted to practice in New York.

Joshua C. Liederman is a Vice President in the Investor Relations & Business Development Group. He is involved with LP relations strategy, and supporting business development and fund-raising for Blackstone's private investment funds.

Before joining Blackstone, Mr. Liederman worked at Debevoise & Plimpton LLP where he was an Associate.

Mr. Liederman received a BA in Economics from the State University of New York at Buffalo, where he graduated summa cum laude and Phi Beta Kappa. He also received a JD from Rutgers Law School, where he graduated cum laude and was elected to the Order of the Coif, and an MBA from Rutgers Business School, where he was elected Beta Gamma Sigma. Mr. Liederman serves on the Board of Trustees of Sutton Place Synagogue.

Justin Storms is a corporate partner based in the New York office of Debevoise & Plimpton LLP, and a member of the firm’s Investment Management Group.

Mr. Storms represents clients in a wide range of activities in the private alternative investment space, including the organization of traditional private investment funds and co-investment structures, the establishment of bespoke separately managed accounts and platforms, the development of “house” governance and compensation structures and select representations of institutional investors.

Recognised as a leading individual for private equity funds by Chambers Global (2019) and Chambers USA (2019), the guides describe him as “incredibly insightful” and a “fount of knowledge in fund formation matters.” He is also praised by clients for his “incredibly deep understanding of the issues at hand,” and for being “an extremely commercial and practical lawyer” who is “able to come up with smart and creative solutions.”

Mr. Storms joined the firm in 2019. He received his B.A., summa cum laude, from The University of Texas in 2000 and a J.D., magna cum laude, from New York University School of Law in 2003. He is admitted to practice in New York.

Krishnakshi (Kris) Das is an Executive Director at Morgan Stanley. She currently serves as in-house counsel to Morgan Stanley Investment Management’s private equity fund platform (including private equity, co-investment, secondaries and impact investing strategies), and previously served as in-house counsel to Morgan Stanley Wealth Management’s private equity fund distribution business. Kris began her career at Kirkland & Ellis LLP, and serves on the Private Sector Steering Committee of the South Asian Bar Association of New York. She recently participated as a panelist at the Women’s Private Equity Summit in March 2019 and the Women’s Alternative Investment Summit in November 2018. Kris is a graduate of The George Washington University Law School and Harvard College.

Leor Landa is head of Davis Polk’s Investment Management/Private Funds Group. He advises a wide range of clients on the formation and operation of private investment funds, including private equity funds, hedge funds, credit funds, secondary funds, real estate funds, funds of funds and advisory platforms. He also regularly provides regulatory and compliance advice to his private fund clients.

He is widely recognized as a leading adviser for complicated secondary transactions, including sponsor-led secondaries, and he has deep experience advising on acquisitions, dispositions, seeds and spinouts of investment advisers.

Mr. Landa also represents several large institutional investors that invest in private funds.

Representative private fund clients have included Avenue Capital, Mudrick Capital, Enfoca, Graticule Asset Management Asia, RoundTable Healthcare Partners, Hitchwood Capital, Perella Weinberg Partners, Reverence Capital, Czech Asset Management, Morgan Stanley, Credit Suisse and J.P. Morgan.


Chambers USA notes that Mr. Landa has “broad and deep experience across private investment funds of all types,” and “can provide a blended perspective” which “is informed by a range of clients.” Chambers commentators have described Mr. Landa as an “unbelievable attorney in investment management" and "incredibly business-savvy and commercial." One praised: “… he’s one of the leading funds lawyers in the country. I get thorough, expert advice in a timely way whenever I need input.”

Mr. Landa is recognized as a leading fund formation lawyer in various industry publications: Chambers Global; Chambers USA; IFLR’s Guide to the World’s Leading Private Equity Lawyers and the IFLR1000, The Legal 500 U.S.; Who’s Who Legal–International, Who’s Who of Private Funds Lawyers and International Who’s Who of Business Lawyers; Best Lawyers in America and Expert Guides: World’s Leading Private Equity Lawyers; World’s Leading Investment Funds Lawyers and Best of the Best USA.

Of Note


  • Member, Private Investment Funds Forum
  • Former Member, Committee on Private Investment Funds, New York City Bar Association

Professional History

  • Partner, 2005-present
  • Associate, 1998-2005
  • Law Clerk, Hon. Senior Judges' Chambers, District of Columbia Court of Appeals, 1997-1998


  • B.A., Johns Hopkins University, 1994
  • J.D., Columbia Law School, 1997; Harlan Fiske Stone Scholar

Michael S. Hong is a partner in Davis Polk’s Corporate Department, practicing in the Investment Management Group. He advises sophisticated private fund managers across all asset classes in their most complex, high-value transactions. Mr. Hong’s advice encompasses fund formation, M&A-related transactions (with a special expertise around co-investments), and ongoing investment-related advice on behalf of private equity, growth capital, credit, hedge, energy, real estate, co-investment and fund of funds managers.

Mr. Hong also has extensive experience advising clients on secondary transaction matters, including GP-led secondary transactions. He also regularly advises clients in connection with GP-stake sales, as well as purchases, spin-outs and joint ventures involving alternative asset managers. Mr. Hong also regularly represents investment professionals in connection with their employment arrangements with fund sponsors, as well as emerging, “first-time” fund sponsors.

His clients include Harvest Partners, Trilantic Capital Management, Lightyear Capital, Tailwind Capital Management, Glendower Capital, Cornell Capital, Cowen Investment Management, BeaconLight Capital, BBAM and GHK Capital Partners. Prior to joining Davis Polk, Mr. Hong also advised Apollo Global Management and GSO/Blackstone on the formation of numerous private funds, managed accounts and related matters. 

Mr. Hong is featured regularly in various industry publications, including The Wall Street Journal, Business Insider, Private Equity Law Report, and Hedge Fund Law Report


  • Private Funds Management Magazine: One of the “30 Most Influential Private Equity Lawyers Under the Age of 40” stating, “[w]hen a big fund is being marketed, don't be shocked to find Michael Hong as part of the process.”
  • Chambers USA: Clients comment: "He has a lot of market knowledge, is very practical and has a lot of experience" and provides “great service to his clients.”
  • The Legal 500 U.S.: One of a select few “Next Generation Lawyers”: Investment Fund Formation and Management
  • IFLR1000: "Highly Regarded," Private Equity, Private Equity Funds and Investment Management
  • Who’s Who Legal: Described as “a much-respected and energetic lawyer”


  • Partnership for New York City, David Rockefeller Fellow, 2018-19
  • Member, Committee on Private Investment Funds, New York City Bar
  • Member, University of Toronto Faculty of Law Alumni Association

Rachel A. Lavery serves as Senior Regulatory Counsel in the Investment Adviser/Investment Company Examination Program in the Securities and Exchange Commission’s New York Regional Office, counseling the members of the exam program on a wide range of legal issues relevant to the examination program.  Prior to joining the SEC staff, Ms. Lavery worked as an attorney in private practice, first at Clifford Chance US LLP and then at Gibson, Dunn & Crutcher LLP, focusing on securities and white collar investigations and litigation.  Ms. Lavery has a J.D. from Benjamin N. Cardozo School of Law of Yeshiva University, where she was a Senior Editor on the Cardozo Law Review and a member of the Order of the Coif, and a B.A. from New York University, where she was elected to Phi Beta Kappa.

Sara Zablotney is a tax partner in the New York office of Kirkland & Ellis LLP. She is widely recognized as one of the top transactional tax lawyers in the country. Her practice is broad-based and encompasses all manner of complex transactions, focusing on the tax aspects of mergers, acquisitions, divestitures, joint ventures and spin-offs, both domestic and cross-border. She also advises clients on the tax aspects of securities issuances, bankruptcy and restructuring. Chambers USA has praised her as “practical, quick on her feet and proactive” and “extremely knowledgeable with good judgment.” Sara has been recognized by Chambers USA for Tax [NY] from 2017–2020, as a “Rising Star” by Law360 for Tax Law in 2014, and is recommended by The Legal 500 U.S.   Sara received her B.A. from Duke University (magna cum laude) in 1999 and her J.D. from New York University School of Law (cum laude) in 2002, where she received the Leonard J. Schreier Memorial Prize in Ethics and the Norma Z. Paige Award.  She speaks frequently on topics relating to mergers and acquisitions and private equity.  She is a member of the New York State Bar Association Tax Section’s Executive Committee, where she is Co-Chair of the Partnerships Committee.  She currently sits on the Advisory Board for the Kenan Institute of Ethics at Duke University, and formerly sat on the Advisory Board for the Sarah P. Duke Gardens.

A leader in investment management law, Ed advises clients on issues relating to the structuring, formation, and operation of private investment funds.

Ed provides insight and counsel to hedge funds, private equity funds, real estate funds, loan funds and funds of funds.  He also offers guidance to new and established managers in connection with ongoing operational and compliance matters.  Internally, Ed is a member of the firm’s Investment Management Group and a key contributor to its growth and entrepreneurial culture.

Ed received his J.D. from Columbia University School of Law and was a Harlan Fiske Stone Scholar.  He received his B.S., summa cum laude, from New York University, Stern School of Business.

Adi Herzberg is Director and Co-Head of Product and Business Development for Credit Suisse Asset Management (“CSAM”) in the Americas. She was previously CSAM’s Head of Legal for Fund Structuring for the U.S. and Latin America.  

Adi is active in the responsible investing field as a member of the CS Impact Investing Advisory Council and works closely with the Bank’s Impact Advisory and Finance department. She was nominated by Credit Suisse to the Board of the UN Principles for Responsible Investment (PRI), guest lectures on the subject at The Wharton School of the University of Pennsylvania and contributes her expertise to various panels and publications.  

Prior to joining Credit Suisse, Adi was a senior attorney with the law firm of Gibson Dunn. She received her J.D. from the University of Virginia School of Law and her B.A. from Dartmouth College.  She is a member of the state bars of New York, New Jersey and California.

Amanda N. Persaud is a Partner in Ropes & Gray’s Asset Management Practice. Her practice focuses on advising sponsors on the formation and operation of private investment funds, including private equity, credit, growth and venture, real estate, hybrid structures and other strategies. Amanda regularly leads numerous global fund raises for prominent sponsors and serves as their primary advisor on a wide range of governance, operational and regulatory matters. She also has significant experience advising on restructurings and recapitalizations of private investment funds, succession planning, and management company compensation arrangements.  

Amanda has been listed as a leading private funds lawyer in Chambers USA; The Legal 500 USA; Law Business Research’s International Who’s Who of Private Funds Lawyers and Who’s Who of Business Lawyers; and Legal Media Group’s Expert Guide to the World’s Leading Banking Finance and Transactional Lawyers and Expert Guide to Women in Business.

Amanda speaks extensively on a range of topics affecting private investment funds at conferences sponsored by the International Bar Association, Association of the Bar of the City of New York, Practising Law Institute and other industry forums.

Her many publications include: Private Equity’s Pixie Dust: Carried Interest Arrangements Sixteenth Annual Private Equity Forum, Practising Law Institute; “Private Equity: Longer Term Investment Structures” 18th Annual Private Equity Forum, Practising Law Institute; Private Equity Funds: Legal Analysis of Structural, ERISA, Securities and Other Regulatory Issues in Investment Adviser Regulation; Financial Product Fundamentals, Second Edition, Practising Law Institute.

Gerald Adler is Chief Operating Officer, Chief Compliance Officer and General Counsel of Paine Schwartz Partners.

Mr. Adler joined Paine Schwartz Partners in 2012. He was formerly a Partner in the corporate and securities group of Friedman Kaplan Seiler & Adelman LLP, and prior to that Dechert LLP. Mr. Adler has counseled senior management and boards of directors on a diverse range of business issues, as well as mergers and acquisitions and compliance with securities laws. Mr. Adler has been active in many civic and professional organizations, including the Westchester  Day School and the Dysautonomia  Foundation.

Gerald is a graduate of Yeshiva University (Bachelor of Arts) and Columbia University Law School (J.D.), and was raised in Rockland County, New York.

Laura Friedrich is a partner in the Asset Management Group. Ms. Friedrich has extensive experience in the fund formation area, representing US domestic and international private investment fund sponsors, distributors and investors on formation, investment and regulatory matters. She advises US and international private equity, venture capital and hedge funds and their sponsors, with investments in the United States, Latin America, Europe, Africa, the Middle East and Asia, working with both fund sponsors and investors in fundraising efforts for multibillion-dollar funds, as well as middle market, regional and sector-specific funds. She has represented sponsors across a variety of asset categories, including buyout, real estate, funds of funds, debt, energy, infrastructure, transportation and media.

Ms. Friedrich also counsels funds and their sponsors on a broad range of business and transactional matters (including co-investments), internal management, and regulatory and compliance issues.

Ms. Friedrich is a Member of the Private Investment Funds Forum and the New York City Bar Association Private Investment Funds Committee.

Ms. Friedrich received a JD from the University of Pennsylvania Law School in 1996 and an AB from the University of California, Berkeley in 1993.

Awards and Recognition

  • Recognized by Best Lawyers in America for Private Funds/Hedge Funds Law (2021)
  • Ranked as Leading Individual by Who's Who Legal for Private Funds - Formation (2020)
  • Ranked in the area of Investment Funds: Private Equity: Fund Formation in Chambers USA (2020)
  • Listed in Legal Media Group's Women in Business Law Expert Guide (2020)
  • Recognized for Investment Funds in Legal Media Group's Expert Guides (2020)
  • Named a Leading Lawyer in The Legal 500 (2019) for Private Equity Funds (Including Venture Capital)
  • Named as one of the Top 100 Female Lawyers in Latin America by Latinvex (2018 & 2017)

Rebecca Silberstein is Co-Head of the firm’s Private Equity Group and has built a leading fund formation practice over her 25 years at the firm. She focuses on advising private equity firms and financial sponsors of private investment funds, including global private equity, leveraged buyout, energy and infrastructure, banking and financial services, mezzanine, credit and distressed debt funds, as well as bespoke funds and separate accounts. She also advises on carry plans, employee investment programs and acquisitions and dispositions of interests in private equity firms, as well as joint ventures and strategic partnerships, management team spin-outs and the establishment of new private equity firms. Ms. Silberstein’s clients include Allianz, Clayton, Dubilier & Rice, Credit Suisse, Global Infrastructure Partners, Kelso & Company, KKR, Morgan Stanley, Odyssey Investment Partners, One Rock Capital, Stone Point Capital and WeWork.

Ms. Silberstein was named to The American Lawyer’s “45 Under 45” list of the top women lawyers, where she is applauded for building a high-profile practice with “a unique mix of tenacity and grace.” Ms. Silberstein is ranked in the top band for private equity fund formation by Chambers USA, where she is described by sources as “a fount of knowledge,” and “a market leader.” She is recognized as a leading lawyer in Chambers Global (2019), and in previous editions of the guide, sources say she “always understands the issues, is very commercial in her approach and understands our business and sensitivities well.”

Ms. Silberstein is the New York City Bar Association’s 2018-2021 Chair of the Private Investment Funds Committee and has been a leader of the International Bar Association’s Investment Funds Committee for over a decade, serving as 2017-2018 Co-Chair of the Committee. She was the 2014 Chair and is a leading member of the Private Investment Funds Forum and is an Advisory Board Member of the Private Equity CFO Association. Ms. Silberstein is also a frequent speaker at seminars and conferences. She is on the Organizing Committee of the IBA’s Private Investment Funds Conference and is Chair of the 2019 IBA Annual Conference on the Globalisation of Investment Funds.

Ms. Silberstein joined Debevoise in 1993 and became a partner in 2001. She received her B.A. magna cum laude from Yeshiva University in 1990 and her J.D. summa cum laude from the Benjamin N. Cardozo School of Law in 1993, where she was a Supervising Editor of the Law Review.

Ross Oliver is the General Counsel of Crestview Partners and is responsible for the firm’s legal and compliance functions. He has over 20 years of experience in private equity, mergers and acquisitions and tax as both a lawyer and a CPA.  Mr. Oliver joined Crestview in 2011 from Davis Polk & Wardwell LLP where he was a member of the investment management and capital markets groups and served as outside counsel to Crestview.  Previously, Mr. Oliver clerked for federal district Judge Cecilia M. Altonaga and was a senior manager in the mergers and acquisitions group at PricewaterhouseCoopers LLP.  Mr. Oliver received a J.D., summa cum laude, from the University of California, Hastings, M.S. in taxation from American University and B.B.A., summa cum laude, from Eastern Michigan University.  Mr. Oliver serves on the board of directors of the American Investment Council, an advocacy and resource organization for the private investment industry.  He is admitted to the bar of New York and is a member of the New York City Bar Association.