The Firm: This group has been active on a healthy volume of fund formations and restructuring work over the past year, and is increasingly working with investors. It has also been involved in a variety of international matters, including assisting Firebird Management with the formation of a Mongolian private fund and advising on a first-of-its-kind fund created to invest primarily in the public securities market in Iraq.

Sources Say: "They don't waste our time or pad our bills – we know how much research will be done, the assignments are leanly staffed and there is no duplication. They are quick to respond to our queries and very alert."

Key Individuals: Christopher Wells heads the hedge fund group and is described as a "first-rate business lawyer, both technically and practically." He has overseen a significant number of new fund launches in the past year, on behalf of clients such as Firebird and Euphrates Advisers, and also advised long-term client Alpine Investors on an offshore fund.

Amanda Nussbaum focuses on the structuring of various private investment funds. She is a member of the firm's tax department as well as the private investment funds group, and is able to advise hedge fund clients on a wide range of tax-related matters.