Adam J. Kleinfeld

Associate

Adam J. Kleinfeld

Associate

Adam Kleinfeld works with private investment sponsors on all aspects of fund formation. A significant portion of his practice is advising clients on capital raising, marketing, preparing offering documents, and drafting organizational documents. He also counsels them on regulatory, compliance, and operational issues both during an active fund raise and during the operational stage, including with respect to sponsor-carried interest and management company arrangements. Adam’s sponsor clients include established and emerging private equity, venture capital, and fund-of-funds sponsors.

Additionally, Adam advises institutional investors, including endowments, governmental plans, family offices, fund-of-funds, and corporations, on their private capital investment activity. He also works with private fund sponsors, buyers, and sellers in secondary transactions. Adam is a member of the firm’s Fund Formation & Investment Management Practice. Prior to joining Foley, he was a judicial intern for the U.S. District Court for the Southern District of California in San Diego.

Representative Experience

Fund Formation

  • Represented a Kansas City-based growth equity sponsor raising its fifth fund (US$780m) targeting SaaS B2B companies.
  • Represented a Seattle-based sponsor in forming an oversubscribed US$830m evergreen, open-ended venture capital fund and its US$250m overage fund, each targeting investments in publicly traded health care companies.
  • Represented a New York-based seed-stage venture capital sponsor raising fourth flagship fund (US$250m).
  • Represented a New York-based seed-stage venture capital sponsor raising third flagship fund (US$175m).

Fund Transactions

  • Represented a California-based private equity sponsor in a single-asset GP-led secondary sale with a transaction value of US$50m.

Affiliations

  • Member of American Bar Association
  • Member of Massachusetts Bar Association
02 December 2021 Newsletters

Student-Athlete Compensation Not a Hail-Mary (But a Reality) After Alston Decision

U.S. Senator Chris Murphy aptly stated: “the college athletic industry is a $15 billion industry, and there are thousands of adults who are getting rich off of that industry.” Until now, those thousands of adults did not include student-athletes themselves.
24 November 2021 Article

OTE, NCAA, or G League? A wealth of options to chart a path to the NBA

Under the current NBA collective bargaining agreement, you cannot enter the league until the year in which you turn 19. So, what do you do until then?
23 July 2021 Press Releases

Foley Advises Five Elms in Closing of $780M Growth Equity Fund V

Foley & Lardner LLP acted as fund formation counsel to Five Elms Capital, a leading global growth private equity firm focused on investing in world-class B2B software, in their closing of Five Elms V with $780 million in capital commitments.
22 July 2021 In the News

Foley’s Role in Closing of Five Elms Capital’s New $780M Software-Focused Fund Detailed in Law360

Foley’s role as fund formation counsel to Five Elms Capital in its closing of a new $780 million software-focused fund is detailed in a Law360 article, “Foley-Led Five Elms Nabs $780M For Software-Focused Fund.”
14 April 2020 Article

Virtual Shareholder and Board Meetings: Important Considerations for Massachusetts Companies

In these unprecedented times of “shelter in home” orders, remote working, and other strategies Americans are taking to mitigate the risks associated with COVID-19, we anticipate that many organizations will decide to transition to virtual meetings of shareholders, directors, members, and managers of entities. This alert is intended to provide basic guidance to entities organized in Massachusetts considering virtual meetings.
13 March 2020 Coronavirus Insights

Managing the Commercial Impact of the Coronavirus: Implications for the Technology Industry

Technology companies should take the following steps to identify the impact of the coronavirus and mitigate risk.