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Ellen Kaye Fleishhacker is the Co-Managing Partner of Arnold & Porter.

A partner in the firm's San Francisco office, she also co-leads the firm's Investment Management practice group. Ellen's practice focuses on investment management related matters, including formation, compliance and transactional matters of real estate funds, venture funds, private equity funds, and ESG/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, Ellen works with investors on structuring and negotiating potential investments in private funds, separate accounts, joint ventures, real estate partnerships, and other investment vehicles.

Ellen has lectured and written frequently on various investment management related topics, including legal considerations uniquely applicable to real estate fund sponsors. In addition, for over ten years she has had a special interest in and written and spoken on legal topics related to impact investing/ESG Funds.

Ellen received her J.D. and MBA at the University of California, Berkeley.


  • Full Service Wealth Advisory Firms in regulatory and transactional matters related to the Investment Advisers Act, structuring and governing documentation of adviser itself, investment management agreements, regulatory examination matters, 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.


Who's Who Legal
Private Funds (2024)
"Leading Lawyers" Investment Management — America (2023-2024)
The American Lawyer
West Trailblazers (2022)



  • J.D., University of California, Berkeley, School of Law, 1996
  • M.B.A., University of California, Berkeley, Haas School of Business, 1996
  • B.A., University of California, Berkeley, 1989, with high honors, Phi Beta Kappa


  • California


  • Fellow, American Bar Foundation
  • Member, American Bar Association
  • Member, California Bar Association
  • Former Member, Family Office Subcommittee of the Institutional Investors Committee of the Business Law Section of the American 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