Michael Black

Michael’s practice focuses on the formation, structuring and operation of private investment funds for middle-market private equity sponsors. He represents buyout, growth equity, search fund, credit, real estate, and single-asset sponsors and special purpose vehicles – working with established multifund platforms and first-time managers in structuring, marketing, negotiating and closing complex investment funds.

Michael advises sponsors on firmwide and fund-specific economic, governance, transactional and operational matters, including carry and fee plans, new product development, co-investments, continuation vehicles, secondaries, investment warehousing, cross-fund transactions, investor relations, regulatory compliance and general corporate matters. He also focuses on representing private equity sponsors in connection with the organization, structuring and operation of their management companies.

Michael works with sponsors across the life of the firm rather than the fundraise alone – including co-investment vehicles formed alongside deal activity, management company and partnership governance, credit facilities, and ongoing regulatory counsel between fund cycles.

Michael has particular experience with first-time fund sponsors, having closed a substantial number of inaugural funds for managers launching their platforms. He advises on the firm-building questions that arrive alongside a first raise, including management company formation, economic arrangements among founders and the terms that shape how a firm operates for the decade that follows.

Before joining Cooley, Michael was a partner in the investment funds practice of a leading international law firm.