The Firm: Commentators agree: there are few firms in Massachusetts as good as Proskauer Rose when it comes to investor representation. Its excellent reputation for fund formation has attracted work from across the USA and multiple sectors, such as private equity, growth equity, pensions and infrastructure. A highlight was representing Ares Management on the structuring of numerous funds, including a $3.5 billion buyout fund. The team's diverse workload is illustrated by its involvement in more than 100 secondary transactions.

Sources Say:"There is no disputing their market dominance."

Key Individuals: The star of the team and indeed the market is Robin Painter. She continues to be engaged in major matters, such as advising CalSTRS on the structuring and negotiation of $1 billion across multiple funds. To clients, what makes her so special are her "extraordinary interpersonal skills and and her depth of experience, which means she really understands our needs." David Tegeler is another standout partner and his recent docket of work has incorporated national and international fund structuring and formation. Interviewees "have a huge amount of respect" for him. Daniel Finkelman has a long history in this market and is regarded as "one of the best lawyers in the area." Corporate partner Malcolm Nicholls has most recently been engaged in the formation of numerous funds of funds. He is regarded by sources as "smart and practical." Fund managers routinely seek out Arnold May for his tax-planning advice, while Stephen Mears has recently utilized his fund-raising expertise to great effect in the venture capital space. Junior partner Sean Hill is quickly making a name for himself. Clients value his advice, with one noting: "His knowledge of private equity issues and his overall business savvy are absolutely top-tier."