Ellen Kaye Fleishhacker is co-head of the firm's Investment Management practice, and a member of both the firm's Management Committee and its Policy Committee.

Her practice focuses on investment management related matters, including formation, compliance and transactional matters of real estate funds, hedge funds, venture funds, private equity funds, and impact investment funds. She also represents wealth advisory firms, family offices, and financial institutions on legal, compliance, and transactional matters associated with their investment management and related operations. In addition, Ms. Fleishhacker works with investors on structuring and negotiating potential investments in private funds, separate accounts, joint ventures, real estate partnerships, and other investment vehicles. 

Her practice also includes counseling and negotiation in such contexts as acquisitions, dispositions, and reorganizations of investment management firms, as well as incident responses, internal investigations, and regulatory examinations. Ms. Fleishhacker regularly collaborates with her colleagues to provide comprehensive service to investment management firms, and particularly to help them anticipate and address the challenges and opportunities that arise from the complex and ever-changing legal and regulatory environment in which they operate.

Ms. Fleishhacker has lectured and written frequently on various investment management related topics, including legal considerations uniquely applicable to real estate fund sponsors, legal matters related to impact investing, legal and regulatory issues related to the allocation of fees and expenses by private investment funds, and private equity secondary transactions. Ms. Fleishhacker is also the co-author of a book on limited liability companies.


  • Full Service Wealth Advisory Firm in regulatory and transactional matters related to the Investment Advisers Act, formation of a complex of proprietary funds, structuring and governing documentation of adviser itself, investment management agreements, and merger and acquisition matters.
  • Impact Investment Advisory Firm in regulatory and compliance advice, representation regarding private funds, documentation of investment management agreements, preparations of governing documents of firm and structuring matters.
  • Asset Management Firm in the preparation of sub-advisory and investment advisory agreements, and regulatory advice related to the Investment Advisers Act, the Securities Act and other securities laws.


Real Estate Fund Public and Private Investments
Speaker, ACA Fall 2019 Compliance Conference, Austin, TX
The SEC's "Regulation Best Interest," Form CRS, and Investment Adviser Interpretations: Does the New Framework Actually Protect the Best Interest of Customers and Clients?
Current Issues and Trends in Impact Investing
Panelist, Private Equity Law Report Webinar
One Year Later: Regulators Issue Guidance to Financial Professionals and Firms About the Senior Safe Act
Practical Tips and Considerations for Preparing PE Impact Investment Fund Offering Documents
Private Equity Law Report & Hedge Fund Law Report


Northern California Super Lawyers


  • JD, University of California, Berkeley, School of Law
  • MBA, University of California, Berkeley, Haas School of Business
  • BA, University of California, Berkeley, with high honors, Phi Beta Kappa
  • California
  • Member, Family Office Subcommittee of the Institutional Investors Committee of the Business Law Section of the American Bar Association
  • Member, American Bar Association

  • Member, California Bar Association

  • Former Adjunct Lecturer, Golden Gate University Graduate School of Business Administration

  • Former Member, Board of Directors of Reading Partners

  • Former Member, Board of Trustees of the University of California, San Francisco OB/GYN Foundation

  • Former Member, Board of Directors of Urban Service Project, San Francisco

  • Member, Board of Directors, Congregation Emanu-El

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