William (Billy) LeBas is a Partner in Simpson Thacher’s Asset Management Regulatory and Enforcement, Private Funds and Registered Funds Practices. He has significant experience counseling firms on investment management regulatory matters, with a primary focus on helping firms to comply with the Investment Advisers Act, and he also advises leading sponsors on fund formation, structuring and operational matters, including regulatory considerations for fundraising, as well as on regulatory aspects of significant transactions.
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Work Highlights
- Counseling managers on compliance with the Advisers Act – including new SEC rules, SEC registration and available exemptions, fiduciary duties, conflicts of interest, investment allocations, changes of control, advertising, distribution, custody, regulatory reporting, core compliance/compliance program implementation, and information barriers and trading matters – and on other securities laws and regulations applicable to asset managers, including the Securities Act, Investment Company Act and FINRA rules
- Advising a number of leading sponsors on establishing and operating private funds, including funds-of-one, co-investment vehicles and separately managed account arrangements, and related advice on regulatory considerations for fundraising, including through high net worth and alternative channels
- Guiding a number of firms through SEC examinations, internal investigations and compliance reviews
- Providing regulatory advice to asset managers and broker-dealers in connection with establishing joint ventures, mergers and acquisitions activity, entering new business lines, capital markets reporting and ongoing operations
Education
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George Washington University Law School, 2014 J.D.
Highest Honors; Order of the Coif
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Davidson College, 2011 B.A.
cum laude
William (Billy) LeBas is a Partner in Simpson Thacher’s Asset Management Regulatory and Enforcement, Private Funds and Registered Funds Practices. Based in New York, he maintains a broad and diverse practice, advising clients on regulatory and compliance matters, as well as on fund formation and fundraising and regulatory aspects of significant transactions.
Billy has significant experience advising leading managers on regulatory and compliance matters, with a primary focus on helping firms to comply with the Investment Advisers Act. He regularly counsels clients on all aspects of the Advisers Act as well as other securities laws and rules and regulations applicable to asset managers, including the Securities Act and Investment Company Act. He also has experience guiding a number of firms through SEC examinations, internal investigations and compliance reviews.
He also maintains an active funds practice, advising leading sponsors on the formation, structuring, marketing and operation of private investment funds – including funds-of-one, co-investment vehicles and separately managed account arrangements – investing in private equity, real estate, infrastructure, credit and other strategies. He also has experience advising firms on the regulatory aspects of significant corporate transactions and on internal and strategic arrangements, including the establishment of joint ventures.
Earlier in his career, Billy was in-house at a leading alternative asset manager.
He received his J.D. from George Washington University Law School, with highest honors, and his B.A. from Davidson College,
cum laude. He is admitted to practice in New York.