In recent years, many large corporate law departments have realized that mastering their operational aspects is fundamental to their overall success. Several of the same strategic goals that drive large corporate law departments to focus on legal operations also apply to hedge fund law departments, and many of the processes and tools deployed on the corporate side are translatable as well. Like their corporate brethren, hedge fund general counsels are continually being asked to do more with less – which often means looking for ways to reduce expenses; implement efficiencies; and use data analytics and technology to empower their internal resources to focus on value-enhancing legal advising. In a guest article, Brian Meyer, partner, co-chief operating officer and general counsel of Fir Tree Partners, explains how his firm has taken an ambitious – but thoughtfully scaled – approach to managing its own complex legal operations through selective application of many of the same processes and technological solutions used by large corporate law departments. For more on ways fund managers are using technology to streamline operations, see “FINRA RegTech Conference Reviews AI, RegTech Adoption and Compliance Challenges (Part Two of Two)
” (May 30, 2019); and “Forbes Insights and K&L Gates Examine How Financial Executives and GCs Are Responding to Technological Disruption
” (May 9, 2019).