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Mutual Funds, Hedge Funds, and Private Equity Funds

Mutual fund families and advisors have encountered challenges to portfolio management, customer trading, and fees, among other topics. Deep institutional knowledge combined with detailed trading analysis can shed light on conduct, market practice, price impact, and damages. Brattle experts have worked extensively on mutual funds and can deliver rigorous analyses grounded in mutual fund practice.

Hedge funds encounter disputes with investors, lenders, and service providers, in addition to regulatory scrutiny. Brattle experts have aided hedge fund management in confronting a wide range of inquiries and allegations in courts, at arbitration, and before regulators.


Below is a list of representative engagements for our Mutual Funds, Hedge Funds, and Private Equity Funds practice.

Various Claimants v. Morgan Keegan & Company, Inc., et al.
A Brattle expert testified for respondents’ counsel in various FINRA arbitration disputes involving mutual fund and closed-end fund investments. Testimony topics included structured finance, market and credit risks, fund disclosures, foreseeability and impact of financial market crisis, securities valuation, and damages.
A Brattle principal provided testimony before a tribunal in a FINRA arbitration concerning the suitability and alleged misrepresentation of exposure to MBS and commodities by an actively managed portfolio of mutual funds.
Mutual fund fee-setting
Brattle experts analyzed the appropriateness of fees charged to mutual fund investors for investment management and related services. We advised the company and its outside counsel on the relevant measures of profitability, developed a sophisticated analytical framework to assess fund-level profitability, and advised both the client and a testifying expert through reports, depositions, and trial preparation. The case was dismissed prior to trial. We later performed annual fee benchmarking analyses on behalf of the mutual fund complex’s Board.
Mutual fund risk management
A Brattle principal led a consulting engagement on behalf of a major U.S. fund advisor, including the assessment of mutual fund risk, risk management, performance, strategy, and valuation processes.
Boldwater Credit Opportunities Fund I L.P. v. Derivatives Portfolio Management, L.L.C.
A Brattle principal provided expert advice and testimony on behalf of a hedge fund in relation to the role and responsibility of hedge fund administrators, the contractual obligations typically contained in administration agreements and in the agreement in question, the administrator’s performance under the agreement, investor perceptions of operations risk, and the incentives contained in earn-out purchase agreements.
Barclays Bank PLC, v. Highland Capital Management,
On behalf of Barclays Bank, a Brattle sourced and supported expert provided damages testimony in a dispute regarding a failure to process redemption requests relating to a hedge fund investment.
Bankruptcy claw back action

On behalf of KBC Financial Products in a bankruptcy trustee claw back action, a Brattle principal provided expert advice on custom and practice in structuring and administering credit facilities extended to funds of hedge funds arising out of the Petters Ponzi scheme.

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