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Richmond, VA

Edward H. Klees

Hirschler Fleischer
Bankruptcy & Finance


    Ed is a member of the firm’s Investment Management Practice Group. He leads the group’s representation of endowments, foundations and outsourced chief investment offices. Ed also works with investment advisers on alternative investment strategies, including venture capital fund managers for biotech and medical commercialization, including licensing, technology transfer, joint ventures and startups. As the author of the seminal study on bank custody law, Ed is a widely recognized expert on bank custody agreements for institutional investors and other corporate clients.

    Ed has more than 20 years of experience in investment management, regulatory oversight, risk management, operations, compliance and ethics programs for both institutional investors and investment advisors. His practice also includes representation of academic partners on industry/academic collaborations, consulting and startups.

    Ed is Chair of the American Bar Association’s (ABA) Institutional Investors Committee and is a frequent speaker on institutional investment issues at the ABA and other legal and investment conferences. He also is a lecturer at the University of Virginia School of Law where he co-teaches a course on private equity and hedge funds. He is the author of “How Safe Are Institutional Assets in a Custodial Bank’s Insolvency?”, the leading paper on bank custody law, and the co-author, with Nobel Prize winner H. Robert Horvitz, Ph.D., of Connecting with Companies: A Guide to Biomedical Consulting Agreements (2nd edition, 2014). Ed has also been quoted in the Wall Street Journal, Washington Post and Institutional Investor.

    Ed is former general counsel of the University of Virginia Investment Management Company (UVIMCO), where he advised on a range of institutional investment topics, including securities and investment advisory laws, investment advisory contracts, bank custody, and international issues, as well as compliance and operations as well as board matters. Prior to joining UVIMCO, he was associate general counsel for the Howard Hughes Medical Institute, a philanthropy based in Chevy Chase, Maryland, and was in private practice in New York with Paul Weiss Rifkind Wharton & Garrison and Shearman & Sterling.

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