Sijia Cai
Advises fund sponsors on the organization, marketing and operation of private investment funds. Represents sponsors and investors in complex secondary transactions.
Sijia advises private fund sponsors in connection with the formation and operation of investment funds in a variety of strategies and asset classes, including private equity funds, hedge funds, real estate funds, “hybrid” funds, debt funds and venture funds. She also advises fund managers on fund-related aspects of M&A transactions, including deal structuring, co-investment arrangements and alternative investment structures.
Sijia has particular experience representing fund sponsors and investors in connection with a broad range of complex secondary transactions. Her experience includes continuation vehicle transactions, portfolio sales, tender offers, structured secondaries, synthetic secondaries, stapled secondaries and fund restructurings across various sectors.
Sijia regularly advises fund sponsors on internal operations and firm management matters, including governance, compensation, succession planning and separation arrangements, as well as regulatory and compliance matters.
Experience highlights
Fund formations
- Rubicon Founders on the formation of Rubicon Fund II (and related vehicles), a $1.18 billion private equity fund
- TruArc Partners (successor to Snow Phipps) on the formation of TruArc Fund IV (and related vehicles), an $841 million private equity fund
- TruArc Partners on its acquisitions of Lamark Media Group, Molded Devices, Trademark Cosmetics, Watchtower Security and Meyer Laboratory, and related co-investment arrangements
- GHK Capital Partners on its $410 million fundraise for its inaugural fund
- GHK Capital Partners on its acquisitions of Hasa, ITS Logistics, Auveco, WSB Engineering and JohnsByrne, and related co-investment arrangements
- Morgan Stanley AIP in connection with the formation of Ashbridge Transformational Secondaries Fund II, a $2.5 billion secondaries fund
- A global asset manager on the launch of its flagship hybrid hedge fund
- Mudita Management on the launch of its flagship hybrid hedge fund
- Mudrick Capital Management on various private fundraisings and separately managed accounts
- Trilantic Capital Management on its investments in DJR Energy and related co-investment arrangements
- Czech Asset Management on the formation of the SJC Direct Lending Fund III complex, a $1.8 billion direct lending fund
Secondaries and other transactions
- A global bank’s alternative investment group in connection with multiple GP-led secondary transactions and LP portfolio sales
- Coller Capital on multiple investments in GP-led secondary transactions
- CPPIB on multiple secondary and strategic transactions
- A secondaries focused investment firm in connection with multiple secondary transactions
- A credit fund manager on a GP-led secondary recapitalization of a fund complex
- An asset manager on multiple GP-led secondary transactions involving liquid and closed-end funds
- Enfoca Asset Management on a $950 million GP-led secondary recapitalization of several funds
- A global bank in various co-investment and strategic investment arrangements with private equity and venture capital sponsors
Insights
News
Education
- summa cum laude
Professional history
- Partner, 2023-present
- Counsel, 2022-2023
- Davis Polk since 2014
Qualifications and admissions
- State of New York