Richard Horowitz


Richard Horowitz


New York | 1095 Avenue of the Americas, New York, NY 10036-6797
+1 212 698 3525 | +1 212 698 3599

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Richard Horowitz has represented both registered investment companies, including open-end and closed-end funds, and private funds, such as hedge funds and private equity funds, for more than 20 years. He has particular experience with alternative strategy mutual funds, such as manager-of-manager funds, and closed-end funds of hedge funds.

Mr. Horowitz also has expertise in organizing business development companies (BDCs), including exchange-traded BDCs and unlisted, continuously offered BDCs.

Mr. Horowitz has advised some of the largest companies in the U.S. mutual fund industry, including Merrill Lynch, Morgan Stanley, and Dreyfus Family of Funds. He regularly advises mutual funds on the full range of Investment Company Act issues, including disclosure under the new summary prospectus, affiliation issues, funds, and other compliance issues. Over the years, he has worked on numerous fund merger transactions. He has obtained no action relief on behalf of clients on a variety of issues, including the ability of mutual fund wrap fee programs to charge deferred sales loads and ‘40 Act issues associated with a three-tier registered fund of hedge funds structure.

Mr. Horowitz has organized and structured both domestic and offshore private funds. He regularly advises investment advisers on all aspects of regulatory and compliance issues under the Investment Advisers Act, including hedge fund best practices, codes of ethics, trade allocation issues, presentation of prior performance, and U.S. private placement marketing issues.

Mr. Horowitz also advises various publicly traded permanent capital vehicles, such as REITs, on their ability to avoid coming within the definition of an investment company by relying on one or more exemptions under the Investment Company Act.

Mr. Horowitz has been recognized by The Legal 500, which noted that “Richard Horowitz provides immediate advice and breeds confidence in his advice. He offers a very good combination of theory and practicality.”

  • The Wharton School, University of Pennsylvania, B.S., 1985, economics
  • University of Pennsylvania Law School, J.D., 1988
  • New York