Prufesh R. Modhera

Chair, Private Investment Funds

pmodhera@stradley.com

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Prufesh Modhera
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Overview

Prufesh Modhera is chair of the firm's private investment funds practice group, and a proactive and practical adviser to investment management clients on federal securities law matters.

His practice includes counseling investment companies, investment advisers and independent directors on complex securities law issues arising under the Investment Advisers Act of 1940 and the Investment Company Act of 1940. He also assists in responding to SEC inquiries and provides advice to boards of directors on various governance issues.

In addition, Prufesh helps sponsors and investment advisers form and structure private investment funds including domestic and offshore hedge funds, funds of hedge funds and private equity funds.

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Focus

Results

Representative Matters

  • represented Chatham Financial, a global leader in financial risk management advisory and technology, in its acquisition of EA Markets
  • represented Union Square Capital Partners, an investment management firm, in its acquisition of the management of PREDEX, a real estate focused interval fund with approximately $163 million in assets under management
  • represented Nationwide Financial in its agreement with HighMark Capital Management, Inc. to acquire 17 equity and bond mutual funds with $3.6 billion in assets including the reorganization of those funds into the Nationwide Mutual Fund complex
  • represented Nationwide Mutual Funds in the adoption of various mutual funds from UBS and Thompson, Siegel & Walmsley
  • represented Bridgeway Funds in various fund adoption transactions with American Beacon
  • represented Bridgeway Funds in obtaining an inter-fund lending order from the SEC
  • represented Bridgeway Capital Management in obtaining an order under Section 2(a)(9) of the 1940 Act overcoming the presumption of control so that a future change of control of adviser would not require a vote of shareholders of mutual funds to reapprove the advisory agreement 
  • represented the independent trustees of the First Investors Funds in the acquisition of First Investors Management Company by Foresters, a Canadian insurance company
  • represented a large institutional investor and its various affiliates in negotiating investments exceeding $2.5 billion in various private funds
  • engaged by various investment advisory subsidiaries of a large insurance company to prepare all offering and organizational materials for the launch of several private funds including hedge funds and private equity funds
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Credentials

Bar Admissions
  • District of Columbia
  • New York
Education
  • J.D., American University Washington College of Law
  • M.B.A., Georgetown University
  • B.A., Rutgers University
Memberships

  • Board of Directors, Junior Achievement of Greater Washington
  • New York State Bar Association
  • Stradley Ronon Diversity Committee

Languages
  • Gujarati

Publications

News

Presentations

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Speaking Engagements

  • Panelist, “Investment Management Industry Regulatory Outlook & Insights,” Stradley Ronon and Thrivent
  • Presenter, “The Times They Are A-Changin’: The Presidential Administration and the Mutual Fund Industry,” ICI Mutual Risk Management Conference
  • Panelist, “The Regulation of Startup Hedge Funds,” The Hedge Fund Startup Forum
  • Presenter, “Investment Management M&A”
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Recognitions

  • The Legal 500 U.S., recommended for mutual/registered/exchange-traded funds
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In The Community

Prufesh serves on the Board of Directors of Junior Achievement of Greater Washington, which is the Washington, D.C. chapter of the world’s largest organization dedicated to educating students in grades K-12 about financial literacy, work readiness, and entrepreneurship, reaching more than 8 million students in 100 countries worldwide.
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