FundOpsHQ

Danny Bloomstine

FundOpsHQ features conversations with fund operations professionals including CFOs, controllers, fund accountants, and service providers across the investment management industry. Episodes address the operational aspects of managing investment funds: reporting processes, audit preparation, technology decisions, compliance considerations, and the day-to-day challenges of fund administration. Guests share practical insights from their direct experience working with hedge funds, private equity, venture capital, private credit, real estate, and infrastructure funds. The podcast serves professionals at all stages of their careers, from those building foundational knowledge to experienced practitioners seeking perspectives from peers across the industry.

Episodes

  1. MAR 9

    Javad Mostofizadeh, WilmerHale: What GPs Get Wrong About Side Letters, Fees & Compliance

    -- Summary -- Danny Bloomstine interviews Javad Mostofizadeh, a partner at Wilmer Hale, about the intricacies of fund formation law, particularly in the venture capital and private equity sectors. Javad shares insights on the role of fund formation lawyers, the importance of side letters, and the complexities of SEC registration. He also discusses management fee waivers, the significance of LPACs, and offers advice for emerging fund managers. The conversation highlights the challenges and strategies involved in navigating the legal landscape of investment funds. -- Takeaways -- Fund formation lawyers do more than just create fund documents. Side letters can complicate fund agreements but are essential for investor relations. Engaging lawyers early can prevent legal pitfalls during fund launches. Management fee waivers can provide tax advantages but come with risks. LPACs help manage investor consent and conflicts of interest. The SEC has specific rules that can impact fund operations. Emerging managers should keep fund structures simple to avoid complexity. Understanding tax implications is crucial for fund managers. The European waterfall structure is becoming more common in fund distributions. Career success in fund formation law requires a blend of legal knowledge and practical experience. -- Chapters -- 00:00 Introduction to Fund Formation Law 01:01 The Role of a Fund Formation Lawyer 03:16 Understanding Side Letters in Fund Formation 10:08 Negotiating Side Letters: Timing and Strategy 16:29 Advice for Emerging Fund Managers 18:13 SEC Registration and Obligations for Investment Funds 23:32 Management Fee Waivers and Their Implications 32:48 Career Advice in Fund Formation Law

    42 min

  2. FEB 19

    Adam Tope, DLA Piper - Fund Formation, GP & LP Led Secondaries, & Emerging Manager Advice

    In this conversation, Adam Tope, a partner at DLA Piper, shares insights into the world of secondaries transactions, fund formation, and the challenges faced by emerging managers. He discusses the complexities of GP-led versus LP-led transactions, the operational intricacies involved, and the evolving trends in the secondaries market. Adam also highlights the importance of track record attribution for new fund managers, the significance of keeping fund structures simple, and the role of technology in streamlining fund management processes. He emphasizes the need for aspiring fund lawyers to understand the financial aspects of fund management and the importance of building relationships with LPs. Takeaways Secondary transactions provide liquidity for funds. GP-led transactions are more complex than LP-led ones. Emerging managers often lack direct relationships with LPs. Track record attribution is a significant hurdle for new managers. Simplicity in fund structuring aids in fundraising. Operating partners can enhance fund management but may face scrutiny. Fund expenses are often misunderstood by new managers. Technology is streamlining the fund management process. Reading financial news is crucial for understanding the market. Understanding SEC regulations is vital for fund managers. Chapters 00:00 Introduction to Secondaries Transactions 02:37 Understanding GP-Led vs LP-Led Transactions 05:15 Operational Complexity in Secondary Transactions 08:21 Trends in the Secondaries Market 10:45 Challenges for New Fund Managers 13:36 Track Record Attribution for Emerging Managers 16:20 Fund Structuring and Terms Negotiation 19:01 The Role of Operating Partners 21:55 Timeline for Fund Launch and Documentation 24:32 Team Structure in Fund Formation 27:00 Technology in Fund Management 29:34 Entrepreneurial Background and Its Impact 31:57 Understanding Fund Expenses 34:50 Advice for Aspiring Fund Lawyers

    40 min

  3. FEB 11

    Neil ODonnell & Mehak Rashid, Legal Scale: Simplicity Can Save Emerging Managers Costly Mistakes

    In this conversation, Danny Bloomstine speaks with Neil O'Donnell and Mehak Rashid, Managing Partners at LegalScale LLP, about the intricacies of launching a fund, the role of venture debt, and the transition from large law firms to boutique practices. They discuss the importance of simplicity in fund structures, the dynamics of investor incentives, and the significance of maintaining a strong professional network. The conversation also highlights the evolving landscape of venture debt and the critical factors that influence successful financing strategies. Chapters 00:00 Introduction to LegalScale LLP and Fund Launching 03:31 Understanding Fund Structures and Investor Incentives 08:27 Exploring Venture Debt: Definition and Use Cases 15:40 Success Stories in Venture Debt Financing 20:05 Navigating Covenants and Market Changes in Venture Debt 24:38 Transitioning from Big Law to Boutique Firms 28:02 Advice for Emerging Fund Managers 31:45 Building a Professional Network and Relationships

    35 min

  4. FEB 3

    Nick Maroules, BDO: Inside Fund Auditing, LP Transparency & ILPA Reporting

    Danny Bloomstine interviews Nick Maroules, a leader in asset management at BDO USA. They discuss Nick's journey in the industry, the pivotal role of auditors in fund management, the complexities of different fund types, and the evolving expectations of limited partners regarding transparency and reporting. The conversation also touches on regulatory impacts, the importance of ILPA templates for standardized reporting, and practical advice for aspiring professionals in the field. Chapters 00:00 Introduction to Asset Management and Auditing 02:20 The Role of Auditors in Fund Management 04:40 Team Structure and Engagement in Auditing 07:24 Complexity in Fund Types and Auditing Challenges 09:46 Evolving LP Expectations and Transparency 12:33 Regulatory Impact on Auditing Practices 15:03 ILPA Templates and Standardized Reporting 17:23 Performance Templates and Their Importance 20:07 Advice for Early Career Professionals in Finance

    26 min

  5. FEB 2

    How Fund Valuations Actually Work w. Monica Blocker, Houlihan Capital

    Keywords valuation, financial advisory, hedge funds, private equity, venture capital, crypto funds, independent valuation, compliance, asset management, investment banking Summary In this conversation, Danny Bloomstine interviews Monica Blocker, Director of Business Development at Houlihan Capital. They discuss the role of independent valuation firms in the financial advisory landscape, particularly for hedge funds, private equity, and venture capital. Monica explains the complexities of valuing illiquid assets, the importance of compliance, and the unique challenges posed by crypto assets. The conversation also touches on the significance of fairness opinions in continuation vehicles and the evolving expectations from LPs regarding independent valuations. Chapters 00:00 Introduction to Houlihan Capital and Monica Blocker 02:33 Client Engagement Lifecycle in Valuation Services 03:55 Understanding Level 1, 2, and 3 Valuations 05:42 Pros and Cons of Independent Valuation Firms 09:56 Valuing Crypto Assets vs Traditional Securities 12:15 Valuation Approaches for Level 3 Assets 14:34 Common Mistakes in Valuation Practices 17:54 Information Rights and Their Impact on Valuation 21:41 Fairness Opinions for Continuation Vehicles 24:15 The Evolving Role of Independent Valuation Providers

    26 min

  6. JAN 26

    Navigating Real Estate Challenges with AI with PwC's Marcel Kanngiesser

    The conversation covers the introduction to PwC's Real Estate Consulting Practice, the client base and services offered, the scope of projects and engagements, an example of a client engagement, the transition from assurance and audit to consulting, the impact of global experience on work approach, the role of Chief of Staff at PwC, AI in real estate and value creation opportunities, and career advice for early professionals. Takeaways Real Estate Consulting PracticeClient Base and ServicesAI in Real EstateChief of Staff RoleGlobal Citizen and Career Advice Chapters 00:00 Introduction to PwC's Real Estate Consulting Practice09:31 Example of a Client Engagement19:30 Transition from Assurance and Audit to Consulting27:59 Role of Chief of Staff at PwC34:46 AI in Real Estate and Value Creation Opportunities41:49 Career Advice for Early Professionals

    36 min
  • 6 Episodes

About

FundOpsHQ features conversations with fund operations professionals including CFOs, controllers, fund accountants, and service providers across the investment management industry. Episodes address the operational aspects of managing investment funds: reporting processes, audit preparation, technology decisions, compliance considerations, and the day-to-day challenges of fund administration. Guests share practical insights from their direct experience working with hedge funds, private equity, venture capital, private credit, real estate, and infrastructure funds. The podcast serves professionals at all stages of their careers, from those building foundational knowledge to experienced practitioners seeking perspectives from peers across the industry.

Information

  • Creator
    Danny Bloomstine
  • Years Active
    2025 - 2026
  • Episodes
    6
  • Rating
    Clean
  • Copyright
    © 2025 Danny Bloomstine