Bar Admissions

North Carolina

Education

University of Virginia, J.D., 1996, Order of the Coif; Editorial Board, Virginia Law Review, 1994-96

University of Virginia, B.A., with distinction, 1993, Phi Beta Kappa, Jefferson Scholar

Profile

Rick Starling practices primarily in the areas of investment management, private equity, and general corporate and commercial law. He co-chairs the firm’s Fund Formation and Investment Management Practice Group, where he represents fund managers in their fund offerings; institutional investors in their investments in private funds and other assets; and a variety of clients with respect to regulatory, internal governance and structural issues unique to the investment management industry. Rick works with all types of private funds, including buyout, venture capital, secondary, hedge, hybrid, real estate, co-investment and fund of funds.

His recent representative transactions include offerings for a lower middle-market buyout fund, a fund of hedge funds, a captive strategic growth fund, a real estate recapitalization and a small hedge fund, and numerous investments by institutional investors in a wide variety of hedge, private equity and other funds.

Rick also represents clients in a variety of other investment and corporate transactions, and, as an extension of his transactional work, he regularly advises clients on business formations, significant commercial contracts and other general legal matters.

Honors & Awards

Clerkships

  • Law Clerk, The Honorable Richard L. Williams, Eastern District, Virginia, 1996-97

Experience

Experience

  • Represented a fund manager in connection with the formation of a middle-market buyout fund with $925 million in investor commitments.

  • Represented a fund of funds manager in the formation of three successive sets of U.S.-focused funds of funds, two successive sets of European-focused funds of funds and various separately managed accounts, with aggregate investor commitments of more than $2.1 billion.

  • Represented an investment manager in the formation of a secondary fund of funds comprised of interests in 26 buyout funds with aggregate investor commitments exceeding $700 million.

  • Represented a fund sponsor in the formation of a hybrid fund with aggregate commitments of $270 million, focusing on both publicly traded securities and investments in private companies, and the subsequent conversion of that fund to a hedge fund.

  • Represented a captive fund manager in its spinout from a leading financial institution.

  • Represented a multifamily office in connection with the establishment of a fund of hedge funds targeting $100 million in investor subscriptions.

  • Represented managers of first-time hedge funds targeting initial commitments from $2 million to $20 million.

  • Represented a fund manager in connection with the formation of a lower middle-market buyout fund targeting $100 million in investor commitments.

  • Represented a community nonprofit hospital in the formation of a captive venture capital fund.

  • Represented a real estate firm in connection with the recapitalization of two portfolios of commercial office and industrial properties and the offering of more than $50 million in equity interests therein.

  • Represents numerous institutional investors in a wide variety of commingled private equity, venture capital, real estate, hedge and other fund investments, as well as in the establishment of managed accounts and managed account platforms and in co-investment, secondary and other transactions.

  • Represents several clients with their registration as investment advisers, including the preparation and filing of Form ADV; the drafting of compliance manuals, codes of ethics and other materials; and working with regulators on compliance issues.

News & Events

News

Events

Insights

Affiliations

Professional Affiliations

  • North Carolina Bar Association, Business Law Section, Securities Regulation Committee, Chairman, 2011-present
  • North Carolina Bar Association, Business Law Section, Dodd-Frank Investment Advisory Task Force, Organizer and Chairman, 2011-13
  • American Bar Association, Committee on Institutional Investors
  • Council of Institutional Investors
  • National Association of Public Pension Attorneys

Community Affiliations

  • Jefferson Scholars Regional Selection Committee, Member, 2003-present; Chairman, 2011-present
  • Community School of the Arts, Board of Directors, 2015-present
  • Christ Episcopal Church Worship Band, 2011-present
  • Charlotte Museum of History, Board of Trustees, 2008-11
  • Inventors’ Network of the Carolinas, Steering Committee and Board Member, 2004-08
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