Eliot retired from the partnership in 2022. He represented investment managers, including advisors to domestic and offshore hedge funds and other private investment funds. He provided advice in connection with fund formations and portfolio investing activities.

Eliot assisted clients with navigating changing legal and regulatory frameworks. He also assisted in formulating innovative structures to accommodate evolving investment strategies and the impact of changing market terms.

Eliot frequently spoke before investment fund trade groups on issues affecting hedge funds and other private equity funds.

Representative Work

Advised an investment advisor, with $10 billion in capital under management, in a transition to the next generation of leadership. The matter was critical to the continuity of the organization and its ability to maintain investors during and after the transition. Helped to navigate regulatory and contractual requirements and provided common-sense solutions to achieve the transition. Worked with the founder, new leadership and respective counsel and crafted a strategy to effect transition without the need to receive client consent.
Counseled a private investment firm in the formation of a new fund and related managed accounts, securing more than $1.34 billion of capital commitments, exceeding the fundraising objective. The transaction involved a complex structure necessitated by different types of investors.
Advised on fund terms and structure in the creation of a fund focused on credit-oriented securities of companies in energy and energy-related industries. The fund closed with $165 million in commitments.
Negotiated the terms of a $250-million strategic investment and advised the client on market terms and risks of the investment in relation to a Strategic Relationship Agreement with a state government financial institution.

Education
J.D., University of Texas School of Law, with honors, 1986
B.B.A., University of Texas at Austin, with high honors, 1983

Bar Admissions
Texas

Recognitions

Chambers Global, Hedge Funds, 2012-2015, Investment Funds: Hedge Funds, 2020-2022.
Chambers USA, Hedge Funds, 2010-2016, 2019-2021.
The Legal 500 US, Alternative/hedge funds and Private equity funds (including venture capital), 2016-2023.
D Magazine, “The Best Lawyers in Dallas,” 2015, 2017, 2021.
Who’s Who Legal, Leading Private Fund Lawyer, 2011, 2014, 2016.
Expert Guides, Leading Investment Funds Lawyer, 2020.

Affiliations and Public Service

Member, Board of Directors, Capital for Kids
Member, Board of Directors, Jonathan’s Place
Member, Regional Board, Anti-Defamation League

Speeches and Publications

Panelist, “Emerging Managers: Operational Considerations for Managing Risk,” SS&C Technologies webinar, October 2020.
Panelist, “Impact of Various Fund Legal Structures on Institutional Investors,” TAIA Institutional Investor Workshop, Dallas, October 2019.
Panelist, “Hedge Funds: A Shifting Landscape,” Maples Investment Forum, Cayman Islands, 2017.