Michael James DiLernia, Partner, Fund Formation

Michael James DiLernia

Partner

Areas of Focus

Michael James DiLernia, Partner, Fund Formation

Michael James DiLernia

Partner

mdilernia@akingump.com

Areas of Focus

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Biography
  • Broad and deep experience advising leading asset managers on all aspects of fund formation and deal structuring across the investment lifecyle and beyond.
  • Particular focus on the creation of domestic and offshore investment funds and managed accounts.
  • Represents one of the most prominent private equity and hedge fund sponsors on some the largest fundraises in the industry.
  • Served as general counsel to hedge fund Rockmore Capital LLC.
  • Co-founder, director and vice president of a nonprofit law firm that provides legal services to disabled veterans and their families.

Michael is a leading advisor to global alternative asset management firms across asset classes and investment strategies. His practice encompasses matters and transactions spanning the investment life cycle, including after the closing of a fund. Michael serves as lead fund counsel on the formation and operations, as well as on issues related to investors in the funds.

With a focus on the domestic and international fund industry, Michael represents fund sponsors in the formation, structuring and operation of private investment funds that employ innovative structures and investment strategies.

Notably, Michael has advised on groundbreaking investments and some of the largest fundraises in the alternative asset management space. Clients rely on Michael to provide bespoke advice on their most sophisticated products. He advises on complex fund formations, managed accounts and funds of one, on behalf of prominent asset managers, including Apollo Global Management.

In addition, Michael assists in raising co-investment vehicles for strategic investors, both as a participant in portfolio investments and as a sidecar to a fund. His experience also includes counseling clients on private fund tender offer deals and insurance-related private fund products.

His representation of clients is informed by his experience also as general counsel of Rockmore Capital LLC, a hedge fund that focused on small cap investments.

Michael is a co-founder of Veterans Legal Advocacy Group PC (VetLAG), a nonprofit organization that represents disabled veterans in their disability claims. Michael does extensive pro bono work on behalf of VetLAG and serves as an active director and officer. He also mentors other lawyers at the firm and at clients of the firm in their work on veterans’ matters.

Representative Work
  • Represented clients in fund formations with an aggregate value of $80 billion raised on behalf of industry-leading fund sponsors.
  • Advised on the development of managed accounts and funds of one in excess of $7 billion.
  • Represented Apollo Global Management in the formation, fundraising and closing of its 10th flagship vehicle, Apollo Investment Fund X.
  • Represented a leading global alternative asset management firm in connection with multibillion-dollar fundraises to invest in nonperforming loans (NPLs), real estate, insurance, natural resources and corporate buyouts—including the largest private equity fund in the world.
  • Represented a premier investment management firm on a tender offer for the purchase of investor fund interests by one of the manager’s affiliates.
  • Advised a large fund operator in connection with a joint venture in Korea to provide a wide range of private credit solutions, bringing together the capabilities of the client’s global credit platform with expertise in investing and partnering with corporates and institutions in Korea.
  • Leads a team dedicated to processing partner transfers for a leading global alternative asset management firm.
  • Manages pro bono collaborations between firm attorneys and VetLAG, including collaborations with in-house attorneys at clients of the firm.
  • Represented the spouse of a deceased veteran in a successful effort to cancel approximately $160,000 in purported debt owed by her to the U.S. Department of Veterans Affairs.

Education
  • J.D., Georgetown University Law Center, 2008

  • B.A., St. John's University, summa cum laude, 2005

Bar Admissions
  • New York

Recognitions
  • The Legal 500 US, Private Equity Funds (including Venture Capital), 2024.
  • Akin, Pro Bono Associate of the Year Honoree, 2017.

Insights and Achievements

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