Michelle E.P. Nunez


Michelle E.P. Nunez


Michelle E.P. Nuñez counsels private funds, investment advisers, and institutional investors on U.S. legal and regulatory matters. She is a partner in the firm’s Fund Formation & Investment Management Practice.

Michelle advises clients on a variety of matters relating to private fund formation and private fund investments, including structuring and forming unregistered funds, regulatory and compliance of existing funds, fund governance, investment adviser compliance, and evaluation of potential private fund investments. She advises fund sponsors and fund investors across a broad spectrum of size, maturity, and asset class, including closed-end, open-end, and hybrid funds. In addition, Michelle advises impact investment-focused advisers on the legal and regulatory issues surrounding launching private funds that focus on achieving social benefit as well as financial returns, with a particular interest in funds designed to provide capital to women- and minority-owned enterprises.

Michelle also has extensive experience in the application of U.S. laws to non-U.S. investment advisers and their clients, having spent two years in London counseling European and Middle Eastern investment managers on the application of U.S. securities laws to the distribution of fund interests to U.S. investors and investments in U.S.-listed equities.

Michelle is a member of the firm’s Recruiting Committee and Pro Bono Committee.

Presentations and Publications

  • Author, “The Bespoke Solution – Advantages and Challenges in Tailoring Single Investor Funds,” Bloomberg BNA Pension & Benefits Daily (August 28, 2015)
  • Author, “Private Equity Portfolio Company Political Activity” The Journal of Private Equity, 19(3), 51-54 (January 29, 2020)
13 October 2023 Deals and Wins

Foley Advises Avante Capital Partners in Strategic Partnership with Pacific Current Group

Foley & Lardner LLP represented Avante Capital Partners, a woman- and minority-owned private credit firm focusing on investments in the lower middle market, in entering a strategic partnership with Pacific Current Group Limited.
17 November 2022 Events

Breaking Barriers and Sealing Deals: How Women Will Win in Venture Capital

Please join us on Thursday, November 17 from 5:30 p.m. - 8:00 p.m. in Foley & Lardner's Boston office for a lively discussion focused on women in VC, cross-border VC trends, and the prospects ahead for equity at the cap table.
01 June 2022 Blogs

Why Mentoring Matters

In this “Why Mentoring Matters” series, Foley & Lardner LLP partner Michelle Nuñez discusses the best way to go about mentoring others, based on her own experiences of being mentored as a young attorney with no law background.
17 November 2021 Foley Funds Legal Focus

Private Equity and Hedge Funds Should Expect More SEC Scrutiny Ahead

SEC Chair Gary Gensler gave the keynote speech for the 2021 Institutional Limited Partners Association’s virtual summit. Gensler focused his remarks exclusively on private funds and detailed his view that private equity and hedge funds need more scrutiny and regulation.
11 August 2020 Article

Credit Funds, Done Right, Can Be an Opportunity for Banks

Recent changes to the Volcker Rule, which become effective October 1, 2020, will permit banks and their affiliates (for convenience, “banks”) to sponsor credit funds, whose primary assets are loans and other debt instruments which the bank could hold directly. The recent changes (the “Final Rule”) exempt credit funds from the Volcker Rule’s prohibition on sponsoring a covered fund.
04 May 2020 Press Releases

Foley Represents Ara Partners in $400 Million Capitalization

Foley & Lardner represented Ara Partners, a private equity firm specializing in industrial decarbonization investments, in a $400 million capitalization for its debut fund, Ara Fund I, LP.