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Clifford Chance

Clifford Chance
Kelly Labritz

Kelly Labritz


Kelly Labritz

Kelly Labritz represents alternative asset managers and investors on a range of transactions related to private funds and their general partners. She has advised on several groundbreaking GP-led fund restructurings and GP stake transactions, as well as numerous acquisitions and divestitures of private fund interests on the secondary market.

She also represents private fund sponsors on fund formation and operational activities, regulatory compliance, establishment of credit facilities and executive compensation arrangements, and advises fund investors, including institutional and family office investors, in connection with their primary, secondary and co-investment activities.

Clients describe Kelly as "outstanding … in command of the issues" and the “the smartest, most unflappable, creative” lawyer whom they trust to "just get the deal done."

Earlier in her career, Kelly spent a decade as a corporate M&A attorney, and has spent her time since 2007 focused on the private fund industry. Kelly's combination of corporate M&A and private funds experience uniquely qualifies her for work on fund-related transactional matters, such as fund restructurings, GP stake investments and secondary acquisitions and dispositions, which require both in-depth private funds industry knowledge and technical M&A skills.

She played a key role in the 2012 restructuring of Willis Stein & Partners III, which EuroMoney described as "The first ever successful, comprehensive and contemporaneous restructuring of an independent private equity investment vehicle and its manager.” Recently she also advised on the first such transaction to take place in Mexico.

  • EMX Capital in an innovative GP-led fund restructuring – the first of its kind in Mexico, and among the first in Latin America. The deal involved the fund's two parallel investment vehicles: a publicly listed entity issuing Certificados de Capital de Desarrollo (CKDs) primarily held by Mexican pension funds (Afores), and a traditional Canadian limited partnership entity with investors from numerous jurisdictions. The transaction was structured as a continuation fund vehicle in the form of a Fideicomiso (an irrevocable Mexican bank trust).
  • Vision Capital as lead investor on the first-ever GP-led fund restructuring transaction – the restructuring of Willis Stein & Partners III and the sale of the remaining assets to a continuation vehicle seeded by Vision Capital. The deal won multiple awards, including EuroMoney 2012 Deal of the Year, North American Secondaries Deal of the Year in the PEI Awards 2012 and The FT's US Innovative Lawyers 2013 awards.
  • Numerous fund-of-funds sponsors on both sales and acquisitions of large portfolios of LP interests in private funds, including, in all cases, representation in connection with extensive auction and due diligence processes
  • Tetragon Financial Group Limited on the formation of Bentall GreenOak through the merger of its GreenOak Real Estate joint venture with Bentall Kennedy, Sun Life Financial Inc.’s North American real estate and property management firm
  • A fund sponsor with over $1 billion in commitments in the formation and ongoing operation of an evergreen, mid-market buyout fund structured as a series LLC

News and client work

View all news and client work featuring Kelly Labritz

Contact details

Career and qualifications

  • University of Arizona (B.A., cum laude), 1988
  • Quinnipiac University School of Law (JD, cum laude), 1991
  • Admitted as an Attorney-at-Law New York 2009; Connecticut 1991; Vermont 2021
  • Joined Clifford Chance as a Partner 2022

Awards and citations

  • Investment Fund Formation and Management – Private Equity Funds (2017)
    Legal 500 US