Clifford Chance
Cliff Cone is a Partner in the New York office of Clifford Chance and the co-head of the U.S. Funds and Investment Management Practice. He focuses primarily on the investment management sector and has a broad base of expertise advising alternative investment managers, registered investment companies, BDCs, specialty finance companies and boards of directors with respect to all aspects of the Investment Company Act of 1940 and the Investment Advisers Act of 1940.
Cliff has extensive experience with the organization and ongoing representation of U.S. registered closed-end investment companies, exchange-traded funds, business development companies, crypto-focused funds, hedge funds, private equity funds and commodity funds. Cliff also regularly consults with investment advisers on registration and ongoing compliance and disclosure issues, including compliance with the rules of the New York Stock Exchange and the Financial Industry Regulatory Authority, Inc. (FINRA). Cliff serves on the Committee on Investment Regulation of the New York City Bar.
Fintech
Technology has disrupted financial services. The industry is being transformed. We can help you utilise technologies such as blockchain, smart contracts, artificial intelligence and big data to transform your operations, whilst considering the legal, ethical and practical risks.
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- BlackRock on the launch of the iShares Bitcoin and Ethereum ETFs
- VanEck on the launch of the launch of its Bitcoin and Ethereum ETFs
- The independent directors of the Blue Owl Alternative Credit Fund, a closed-end interval fund
- Aetos Alternatives Management in connection with the formation and ongoing representation of its $1.5 billion registered fund of funds complex, including as fund counsel for Aetos Long/Short Strategies Fund, LLC, Aetos Multi-Strategy Arbitrage Fund LLC and Aetos Distressed Investment Strategies Fund LLC
- Axxes Advisors on the launch of the Axxes Opportunistic Credit Fund
- Partners Group on numerous matters, including as counsel to the Partners Group Private Equity Master Fund, a registered fund of private equity funds with over $13 billion in assets; Partners Group Next Generation Infrastructure Fund, Partners Group Lending Fund and several other Partners Group closed-end funds and BDCs
- The underwriters in connection with the IPO and NYSE listing for Golub Capital BDC, a business development company focused on middle market lending
- BlackRock on all of its iShares commodity-based ETFs, including the iShares Gold and Silver ETFs and Commodity-Indexed ETF, and most recently on the initial public offering of iShares Gold Trust Micro for a maximum value well exceeding $2 billion
- BlackRock on the launch of its first ever bitcoin-focused private fund, structured as a private trust
- Goldman Sachs Asset Management as issuers counsel on the Goldman Sachs Physical Gold ETF; and on its acquisition of the sponsorship of the fund, which was previously known as the Perth Mint Physical Gold ETF
- BofA Securities as lead underwriter on the IPOs of the BlackRock ESG Capital Allocation Trust ($2.3 billion), the BlackRock Caital Allocation Trust ($2.5 billion) and the Neuberger Berman Next Generation Connectivity Fund ($1.5 billion)
- Morgan Stanley as lead underwriter on the the IPOs of the PIMCO Dynamic Income Opportunities Fund ($2.2 billion), Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund ($1.3 billion), MainStay CBRE Global Infrastructure Megatrends Fund ($1.1 billion) and Western Asset Diversified Income Fund ($1.1 billion)
- Deutsche Bank, as lead underwriter on the $103 million IPO of the Eagle Point Credit Company
- Wells Fargo Securities, LLC, as lead underwriter on the $885 million IPO of Tekla Healthcare Opportunities Fund
- TriplePoint Venture Growth BDC, Corp., a business development company, on its $125 million IPO and subsequent follow-on equity offerings
- The management of U.S.-based investment management businesses Global Thematic Partners and QS Investors, in their spin-out from Deutsche Asset Management
- CenterSquare Investment Management in its spin-out from BNY Mellon
- A foreign private equity manager in connection with an SEC enforcement investigation
News and client work
Contact details
- Clifford Chance, New York
- +12128783180
- Email me
- Follow me on LinkedIn
- Practice area Funds & investment management, Financial regulation, Capital markets
- Sector Real estate, Funds & investment management, Private equity
Career and qualifications
- Cornell University (BA, American Studies) 2002
- Brooklyn Law School (JD, Notes and Comments Editor, Brooklyn Law Review, Richardson Merit Scholar) 2005
- Admitted as an Attorney-at-Law in New York 2006
- Joined Clifford Chance 2007
- Partner since 2013
Awards and citations
- Recommended Lawyer, Investment Fund Formation and Management – Private equity funds (including venture capital), Legal 500 USA 2024
- Recommended Lawyer, Finance – Fintech, Legal 500 USA 2024
- "Clifford is an outstanding lawyer who is outstanding technically, extremely professional and a zealous advocate for his clients.“ Chambers USA, Corporate, 2024