Bruce I. Ettelson

Bruce I. Ettelson

Chicago, IL recognized lawyers icon Recognized in Best Lawyers since 2007
Kirkland & Ellis LLP

216 Best Lawyers awards

Kirkland & Ellis LLP logo

Awarded Practice Areas

Private Funds / Hedge Funds Law Corporate Law
*Named the "Lawyer of the Year" in this practice area in the 2026 edition in Chicago.

Biography

With over 30 years of experience, Bruce I. Ettelson, P.C. is widely recognized as a leading private investment funds lawyer who has been on the forefront of the industry's evolution since its early years. He is the founder of the Firm's dedicated Investment Funds Group, which was ranked in 2021 by Chambers & Partners as Tier 1 in the U.S., Asia-Pacific, United Kingdom and globally.

His practice focuses on structuring and forming premier private equity funds and their management companies. Bruce has represented more than 150 private equity firms in the formation of more than 1,000 private equity funds. He is also involved in the structuring and formation of private equity funds associated with commercial and investment banks; representing investors in making and monitoring investments in private equity funds; representing buyers, sellers, management teams and fund sponsors in their investments in the secondary market; and acting for private equity clients in general corporate counseling.

The Legal 500 U.S. has recognized Bruce as a leading lawyer in the Private Equity Funds category every year since its first edition in 2007 and in 2017 he was one of less than 500 lawyers in all practice areas to be in the inaugural class inducted into The Legal 500 U.S. Hall of Fame. In the 2020 edition, Bruce was one of seven private funds attorneys to be listed in the Hall of Fame. According to The Legal 500, clients have described Bruce as “extremely knowledgeable,” and "a very strong partner, [and a] first choice for fund formation," with an "almost encyclopedic knowledge of private equity."

Additionally, Chambers & Partners has ranked Bruce in the top tier or as a senior statesman for Private Equity: Fund Formation in its Chambers USA guide every year since the introduction of the private equity fund formation category in 2005. According to Chambers, clients have described Bruce as an "absolutely top-notch, dynamite attorney" who is "more knowledgeable about the private equity market than anyone else in the business." They have also noted that he’s a “great problem solver” and "there's almost no issue he hasn't seen and skillfully solved with his 20-plus years of fund formation experience. He is particularly adept at investor negotiations." Bruce is also ranked in the top tier in Chambers Global in the area of Investment Funds: Private Equity: Fund Formation - USA, where clients note that he is a "go-to person for mission-critical fund issues as well as being one of the industry's best fund lawyers."

Bruce has been recognized by Lawdragon as one of the 500 Leading Lawyers In America. He also has been recognized as one of the top 30 private equity practitioners in the country by Legal Media Group’s The Best of the Best USA. He was named Best Lawyers© 2016, 2018 and 2022 Private Funds / Hedge Funds Law "Lawyer of the Year” in Chicago.

Bruce is a frequent lecturer, speaker, and panel moderator and has also published numerous articles on private equity and fund formation matters. He currently serves on the Boards of the Ravinia Festival Association and of the American Jewish Committee of Chicago and on the Hillels of Illinois Governing Committee, and on the Investment Committee for the Foundation of the Jewish Federation of Metropolitan Chicago. He recently served as a Vice Chairman of the Board of the Jewish Federation of Metropolitan Chicago and on the University of Chicago Law School Visiting Committee.

Kirkland & Ellis LLP

216 Best Lawyers awards

Kirkland & Ellis LLP logo

Overview

  • University of Chicago, J.D., graduated 1989
  • University of Chicago, J.D., graduated 1989

Client Testimonials

Bruce Ettelson has represented us since the mid-90's and has consistently provided our firm with sound advice. He is extremely responsive to our needs and has a strong legal and business perspective on a variety of issues that we face as a private equity fund. Additionally, he and his partners at K&E have deep experience in all matters impacting the private equity business and provide superior guidance in a timely fashion.

Bruce Ettelson is a leader in the field. He is creative and execution oriented. He is very responsive and client focused.

Bruce is particularly tuned in to the market. He seems to know intimate details about most private equity firms, even those he does not represent. He is one of the smartest lawyers I work with.

Simply put, Bruce is a worl-class fund formation attorney. Over the past 15 years, Bruce represented my prior firm, Vestar Capital Partners, on each of its institutional private equity funds. In every instance, Bruce's advice was sound and, importantly, based on a true understanding of current market practices. Whenever we asked Bruce and the Kirkland team to help us think through new or challenging structuring concepts, they came back to us in a timely manner with incredibly creative suggestions and solutions. As the world of private equity increases in complexity, Bruce's experiences and insights will represent even more of an asset to his clients.

David Hooper (Centerview Partners)

New York, NY

Bruce Ettleson has established himself as the leading fund formation lawyer in the United States. He is keenly aware of market conditions and developments and has been a force in moving the market on many terms, including introducing innovations that benefit both GP's and LP's. His team at K&E has fund formation down to a science and they can work the fund formation process and its many intellectual and logistical challenges like no other law firm in country. He is not a one-man band, however, and has developed a squad of very capable lieutenants. There are virtually no issues that he has not seen before and his mastery of them is second to none.

Mark Tresnowski (Madison Dearborn Partners, LLC)

Chicago, IL

I thoroughly enjoyed working with Bruce and the Kirkland team. Bruce brought a depth of experience and market knowledge that was invaluable and ultimately saved us a lot of money. Bruce's knowledge of the market favorably positioned us as we negotiated with our investors. Bruce was a master at handling the negotiations with the limited partners who invested in our fund. I would highly recommend Bruce and Kirkland to represent General Partners who are raising funds. They were extremely responsive and held themselves highly accountable - the best legal dollars I have ever spent, as Bruce's knowledge saved us significant time and expense.

John Hatherly (Wynnchurch Capital)

Lake Forest, IL

Bruce is at the top of his field. His skills in PE fund formation are unmatched in my experience. He has endless energy and is very responsive. He is clear at outlining options and comparing them to what is the state of the market. I have worked with him for a number of years, over multiple funds, and find him easy to work with and very through. I recommend him frequently.

Terry Graunke (Lake Capital)

Chicago, IL

I was told by a number of respected attorneys (including rivals of Mr. Ettleson's firm) that Mr. Ettleson was the best private equity partnership attorney in the business. Having now successfully completed our fund raising, I completely concur with that assessment. It became clear to me during the document preparation that many novel structuring techniques that produce very favorable and direct personal benefits for all of our team were created by Mr. Ettleson over the years. All of that prior expertise came to bear on our structure. Most importantly, Mr. Ettleson was intimately involved in all aspects of the transaction, from the details of the drafting to the negotiations. This proved enormously beneficial, as he had direct experience negotiating with limited partners and could again apply that knowledge to gain an advantage on crucial points. Additionally, because Mr. Ettleson was so directly involved in the process, it was very important that he be responsive to our needs and questions. I cannot think of a single instance where we struggled to reach him to answer questions or where there was any delay in scheduling conference calls or meetings. He was unusually responsive. We will certainly use Mr. Ettleson on our next fund.

James Cooper (Thompson Street Capital Partners)

Saint Louis, MO

Awards & Focus

Lawyer of the Year Badge - 2026 - Private Funds / Hedge Funds Law Lawyer of the Year Badge - 2024 - Private Funds / Hedge Funds Law Lawyer of the Year Badge - 2022 - Private Funds / Hedge Funds Law Lawyer of the Year Badge - 2018 - Private Funds / Hedge Funds Law Lawyer of the Year Badge - 2016 - Private Funds / Hedge Funds Law
Named "Lawyer of the Year" by Best Lawyers® for:
  • Private Funds / Hedge Funds Law, Chicago (2026)
  • Private Funds / Hedge Funds Law, Chicago (2024)
  • Private Funds / Hedge Funds Law, Chicago (2022)
  • Private Funds / Hedge Funds Law, Chicago (2018)
  • Private Funds / Hedge Funds Law, Chicago (2016)
Recognized in The Best Lawyers in America® 2026 for work in:
  • Corporate Law
  • Private Funds / Hedge Funds Law
Additional Areas of Practice:
  • Leveraged Buyouts and Private Equity Law
Special Focus:
  • Private Equity

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