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Overview
David Hearth is a partner in the Investment Funds & Private Capital practice at Paul Hastings and is based in the firm’s San Francisco office. David has an investment management, corporate, and securities practice. He represents investment companies and partnerships, investment advisers, broker-dealers, and independent board members of registered investment companies. He also has broad investment management industry experience in general business matters, including merger and acquisition transactions. David actively represents investment management organizations in all phases of their activities, including launching new fund groups and innovative new products and services, handling special compliance and regulatory matters, obtaining exemptive and no-action relief from the SEC, working on acquisitions, and providing fiduciary counseling.
Recognitions
- Chambers USA, Nationwide, Registered Funds
- Chambers Global, Registered Funds
- The Legal 500 US, Investment Fund Formation & Management - Mutual/Registered/Exchange-Traded Funds
Education
- Harvard Law School, J.D., 1987
- Lewis & Clark College, B.A., 1984
Representations
- Kayne Anderson’s NYSE-traded closed-end investment companies in their IPOs and numerous follow-on public and private offerings of common and preferred stock and senior notes totaling several billion dollars.
- TCW Funds, Metropolitan West Funds, and their investment advisers, in mutual fund matters related to the Carlyle Group’s purchase of a controlling interest in TCW Group from Société Générale.
- Matthews Asia Funds in the acquisition and reorganization of The Japan Fund (Nomura Partners Funds) into the Matthews Japan Fund.
- Forward Management and Getty ownership interests in the acquisition of Forward by Salient Partners.
- First-ever registered exchange offering of public for private Rule 144A notes by a closed-end investment company.
- GE Asset Management in the sale of its retail mutual fund group.
- First-ever conversion of a mutual fund into a publicly traded business development company.
- GE Capital Corporation’s investment adviser subsidiary with respect to various investment advisory arrangements.
- Metropolitan West Funds and Metropolitan West Asset Management in mutual fund matters related to the acquisition by TCW Group.
- Independent board members of various mutual fund groups with respect to a wide range of ongoing fiduciary responsibilities.
news
- Paul Hastings Advised Flexpoint Ford in Combination of Public Trust Advisors and PMA Companies - November 18th, 2024
- Paul Hastings Advised Fisher Investments in $3 Billion Strategic Investment by Advent International and ADIA - June 20th, 2024
- Paul Hastings Advised Kayne Anderson BDC, Inc. in its Initial Public Offering - May 24th, 2024
- Paul Hastings Advised Flexpoint Ford on Strategic Investment in Public Trust Advisors - January 16th, 2024
- Paul Hastings Recognized by Chambers Global 2022 - February 21st, 2022
- Paul Hastings Ranked as Top Three Firm for New Rankings and Recognized for Numerous Practice Strength and Growth in Chambers USA 2021 - May 21st, 2021
- Paul Hastings Recognized for Legal Excellence in Legal 500 US 2020 - July 24th, 2020
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2020 - May 1st, 2020
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2019 - May 1st, 2019
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2018 - May 11th, 2018
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2017 - June 5th, 2017
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2016 - June 8th, 2016
- Kayne Anderson Capital Advisors Agrees to Merge with Ares Management LP - July 24th, 2015
- Salient Partners Acquires Forward Management - June 12th, 2015
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2015 - May 20th, 2015
- Paul Hastings Practices and Lawyers Score Top Rankings in Chambers USA 2014 - May 27th, 2014
- Paul Hastings Represents Kayne Anderson MLP Investment Company In $175 Million Offering Of Senior Notes - August 29th, 2013
- Paul Hastings Represents Kayne Anderson in $122 Million Public Offering - April 8th, 2013
- Paul Hastings Represents Kayne Anderson MLP Investment Company in $146 Million Common Stock Offering - March 14th, 2013
- Paul Hastings Represents Kayne Anderson MLP Investment Company in $175M Private Placement - May 4th, 2012
Recognitions
- Paul Hastings Funds Practices Recognized by Chambers USA 2022 - June 1st, 2022
- Paul Hastings Recognized by Chambers Global 2022 - February 21st, 2022
- Recognized by Chambers USA 2021 - May 21st, 2021
- Recognized by Chambers USA 2020 - May 1st, 2020
- Ranked by Chambers USA 2019 - April 26th, 2019
- Recognized by Chambers USA 2018 - May 15th, 2018
- Recognized by Chambers USA 2017 - June 5th, 2017
- Recognized by Chambers USA 2016 - June 8th, 2016
insights
- Recent Court Rulings Shape Strategies for Closed-End Funds in Shareholder Activism Context - January 4th, 2024
- Investment Funds & Private Capital Market Insights: SEC’s Final Amendments to Fund “Names Rule” and Procedures - October 10th, 2023
- SEC Reporting Obligations Under Section 13 and Section 16 of the Exchange Act - February 10th, 2023
- SEC Announces 2023 Examination Priorities for Fund Advisers - February 8th, 2023
- SEC Publishes Risk Alert Highlighting Focus on New Marketing Rule - September 28th, 2022
- SEC Adopts New Rule for Fund of Funds Arrangements - October 20th, 2020
- Holding ABS Is Still Tricky: The EU Securitisation Regulation and its U.K. Equivalent - June 5th, 2020
- SEC Proposes Modernizing Fund Valuation Practices - April 27th, 2020
- SEC Adopts Offering Reforms for BDCs and Registered Closed-End Funds and Issues a Temporary Exemptive Order - April 13th, 2020
- These Are Volatile Times: What BDC Managers and BDC Boards Need to Know and Do - March 31st, 2020
- PH COVID-19 Client Alert Series: Regulatory and Practical Issues Facing Registered Investment Companies and Investment Advisers - March 17th, 2020
- PH COVID-19 Client Alert Series: Issues for Private Fund Managers in the Age of COVID-19 - March 17th, 2020
- SEC Proposes to Modernize Regulation of the Use of Derivatives by Registered Investment Companies - December 9th, 2019
- SEC Proposes to Modernize the Advertising and Cash Solicitation Rules for Investment Advisers - November 25th, 2019
- SEC Adopts Long-Awaited "ETF Rule" - October 2nd, 2019
- SEC Publishes New Proxy Voting Guidance - August 27th, 2019
- SEC Adopts Amendments to Auditor Independence Rule - June 24th, 2019
- SEC Adopts Rules & Interpretive Guidance Designed to Enhance and Clarify the Obligations of Financial Professionals - June 13th, 2019
- SEC Reporting Obligations Under Section 13 and Section 16 of the Exchange Act - February 6th, 2019
- SEC Proposes Changes to Fund of Funds Arrangements - December 20th, 2018
Engagement & Publications
- Speaks frequently at industry conferences and seminars on investment management topics for events sponsored by IDC, NSCP, NICSA, and others.
- Quoted in industry press dozens of times over the past several years.