Richard Madris is head of the Infrastructure Funds Practice Group at Stroock. He is one of the leading infrastructure fund lawyers in the U.S. According to Chambers, clients note Richard is “a real shining star.”
He advises clients on fund formation and investments and developed and structured a major multibillion-dollar global infrastructure fund for JP Morgan. Richard has helped his clients acquire or sell interests in more than $25 billion of privately held investments in the infrastructure sector.
Richard’s recent transactions include: formation of multiple open-end and closed-end real asset funds, including for infrastructure, energy, real estate and private equity; creation of social infrastructure funds and funds for renewables and carbon credits; formation of distribution funds on behalf of Citibank; counsel to multiple asset managers with respect to platform issues; multiple U.S. and non-U.S. acquisitions and financings of infrastructure assets on behalf of JPMorgan IIF; investments in wind and solar portfolios; structuring acquisitions and joint ventures for energy, transportation and water assets. Richard is the leading authority on open-end infrastructure funds in the U.S.
In addition to infrastructure matters, Richard also concentrates in private funds and transactional matters, including in the real assets area. He advises private investment funds in both their formation and investment stages. He has experience with M&A, restructurings and securities offerings. Richard is often involved in structuring complex and innovative transactions, including structuring of acquisitions and financings. In addition, he acts as counsel to the asset management division of a major investment bank.
Richard is the recipient of the 2020 Award for Infrastructure Funds Lawyer of the Year, the 2016 Global Award for Fund Formation Within Infrastructure, and the 2015 Award for Best Infrastructure Practice and has been recognized numerous times by The Legal 500, IFLR1000, and other industry organizations.
Prior to joining Stroock, Richard worked for Judge Richard A. Posner (U.S. Federal Court of Appeals, 7th Circuit).
Richard’s transactions include:
- Creation of JPMorgan’s Infrastructure Investments Fund.
- Multiple U.S. and non-U.S. acquisitions and financings of infrastructure assets on behalf of JPMorgan IIF.
- Formation of multiple open-end and closed-end real asset funds, including for infrastructure, energy, real estate and private equity.
- Fund formation for Citibank.
- CalPERS Real Assets Partnership Counsel.
- Sale of Ridgewood Infrastructure’s interest in Neptune Regional Transmission System.
- Creation of renewable energy funds.
- Qualified Opportunity Zone funds.
- Formation of co-investment vehicles to invest in infrastructure assets.
- Investments in wind farm portfolios.
- Acquisition of U.S. power plant portfolios.
- Sale of Veolia Environnement’s North American Waste-to-Energy business.
- Acquisition of Cairns and Mackay Airports in Australia.
- Redevelopment of South Brooklyn Marine Terminal.
- Structuring acquisitions of seaports.
- Representing acquirers of toll roads, municipal parking facilities, and other transportation assets.
- Acquisition of SouthWest Water Company in a going-private transaction.
- Joint Ventures and Consortium transactions.
- Private Funds and Asset Management matters on behalf of sponsors, investors and management teams of JPMorgan, Citibank, Sound Point Capital, QIC Capital, Harrison Street Social Infrastructure Fund, Denham Capital/Solops Solar, Hartree, Hetco, Goldman Sachs, Gerald Metals, AIG, DKR Capital, A&E Real Estate, BCE Real Estate, Symphony Asset Management, Nuveen, TIAA, UMH Properties, American Securities, Bear Stearns Asset Management, Water Island Capital, Lipper Funds, Altus Capital, Oscar Capital Management, Tricadia Capital, Finite Carbon, The Durst Organization, and Family Offices.
Honors & Awards
- Award for Infrastructure Funds Lawyer of the Year
- Global Award for “Fund Formation within Infrastructure”
- Nationally recommended by The Legal 500 United States for Private Funds
- Nationally recommended by The Legal 500 United States for Energy Transactions
- Highly Regarded by IFLR1000 for M&A and Project Finance
- 2015 Award for Best Infrastructure Practice
- Winner, U.S. Infrastructure Law Firm of the Year – 2013 M&A Awards
- Recipient of the 2012 Legal Award – New York Joint Ventures Law Firm of the Year
- Clients include Institutional Investor Infrastructure Manager of the Year
- Water Deal of the Year finalist at the Global Water Awards
- Port Finance Deal of the Year Award, Jane’s Transport
- North American Acquisition Deal of the Year, Project Finance magazine
Speeches & Events
- Panelist, "Opportunity Zone Funds Conference," New York State Society of CPAs, December 8, 2021
- Panelist, "Qualified Opportunity Funds, Opportunity Zones and ESG Investing Conference," NYSSCPA, September 17, 2020
- Speaker, “Alternative Family Office Investment Strategies and Opportunities,” Stroock’s Second Annual Family Office Symposium, November 13, 2019
- Speaker, NYSSCPA’s 1st Annual Qualified Opportunity Funds and Opportunity Zones Symposium,” June 19, 2019
- Speaker, “Qualified Opportunity Zones,” Family Office Symposium, November 8, 2018
- Moderator and Panelist, “M&A Outlook for the Energy Sector,” Stroock Energy Conference, October 20, 2015
- Moderator and Panelist, “M&A Outlook for the Energy Sector,” Emerging Energy Industry Developments Conference, November 18, 2014
- Speaker, “Infrastructure Investment – Is New York Doing Enough?” Government Leadership Forum, October 17, 2013
- Moderator and Panelist, “Current Issues in Energy M&A Transactions,” Stroock Energy Conference, October 7, 2013
- Moderator and Panelist, “M&A Outlook for the Power Sector,” Evolving Power Industry Developments Seminar, September 13, 2011
- Moderator and Panelist, “Outlook for Energy M&A,” Evolving Power Industry Developments Seminar, June 8, 2010
- Speaker, “Renewable Energy Transactions and Opportunities,” Stroock Power Industry Developments Conference, May 2009
- Speaker, “The Role of Infrastructure Funds,” Platts 5th Annual Utility M&A Conference, June 2008
- Co-author, "New York Decouples from Federal Opportunity Zone Tax Regime," StroockClient Alert, April 29, 2021
- Co-author, "Biden Infrastructure Plan – Opportunities for REITs," Stroock Client Alert, April 9, 2021
- Co-author, “SEC Division of Examinations Announces its 2021 Examination Priorities and Fiscal Year 2020 Results,” Stroock Client Alert, March 5, 2021
- Co-author, "IRS Extends COVID Relief for Qualified Opportunity Zone Funds and Investors," Stroock Client Alert, January 26, 2021
- Co-author, "CAA Renewable Energy Provisions," Stroock Client Alert, January 20, 2021
- Co-author, “Monitoring of Redemptions from Open-End Funds under ERISA,” Stroock Client Alert, December 28, 2020
- Co-author, “Renewable Energy Under a Biden Administration,” Stroock Client Alert, December 22, 2020
- Co-author, "SPACs and Real Estate," Stroock Client Alert, October 29, 2020
- Co-author, "SEC Expansion of Definitions of Accredited Investor and Qualified Institutional Buyer; Effective Date December 8, 2020," Stroock Client Alert, October 13, 2020
- Co-author, "Executive Order Instructs Federal Government Agencies to Prioritize Moving to Opportunity Zones," Stroock Special Bulletin, September 10, 2020
- Co-author, "Renewable Energy Projects May Benefit From the IRS Notice Expanding Safe Harbors," Pratt Energy Law Report, September 1, 2020
- Co-author, “‘Reopening’ Considerations for Funds and Asset Managers,” Stroock Special Bulletin, June 5, 2020
- Co-author, “Renewable Energy Projects May Benefit From the IRS Notice Expanding Safe Harbors,” Stroock Special Bulletin, June 1, 2020
- Co-author, “Valuation Guidance for Fund Managers,” Stroock Special Bulletin, April 14, 2020
- Co-author, “The CARES Act – Implications for Fund Managers,” Stroock Special Bulletin, April 6, 2020
- Co-author, “What a General Counsel of a Private Fund Advisor Should Be Doing Today to Manage the Coronavirus Crisis,” Stroock Special Bulletin, March 12, 2020
- Co-author, “NYS Department of Financial Services Announces Mandatory Submission of LIBOR Risk Management Plan,” Stroock Special Bulletin, January 3, 2020
- Co-author, “Stroock's Deep Dive Into the Final QOZ Regulations,” Stroock Special Bulletin, January 2, 2020
- Co-author, "The Latest Proposals on Qualified Opportunity Zone Businesses," TaxStringer, November 4, 2019
- Co-author, “Opportunity Zones for Operating Businesses,” Stroock Special Bulletin, August 7, 2019
- Co-author, “Six Burning Questions on the New Qualified Opportunity Zone Guidance,” Stroock Special Bulletin, November 6, 2018
- Co-author, “SEC Identifies Top 6 Investment Advisory Fee and Expense Compliance Issues for Investment Advisers,” Stroock Special Bulletin, April 19, 2018
- Co-author, “OCIE Issues Risk Alert Highlighting the Most Frequent Advertising Rule Compliance Issues,” Stroock Special Bulletin, October 2, 2017
- Contributor, “Keep Calm and Carried Interest,” Cool Compensation Considerations for the Private Company: Pay, Performance and Perspectives, Practising Law Institute, March 2017
- Co-editor, “Investment Management Practice Group Articles,” March 2015
- Co-author, “FCPA Diligence in Infrastructure Transactions,” Stroock Special Bulletin, June 26, 2014
- “NYC Infrastructure Projects during the Bloomberg Administration,” Stroock Special Bulletin, March 12, 2014
- Co-author, “Current Issues in Energy M&A Transactions,” Stroock Positive Energy, November 2013
- Co-author, “Protecting Donors of Restricted Charitable Gifts in Hard Economic Times,” Stroock Special Bulletin, May 12, 2009
- Co-author, “The Recent ‘Pay-to-Play’ Pension Scandal: Analysis and Action Items for Financial Services Companies and Others in and Outside of New York,” Stroock Special Bulletin, May 5, 2009
- Co-author, “President Obama Proposes Creation and Funding of a National Infrastructure Bank,” Stroock Special Bulletin, March 2009
- Co-author, “Charitable Corporations as Qualified Purchasers of 3(c)(7) Funds,” Stroock Special Bulletin, September 2008
- Co-author, “Infrastructure Funds: Bridging the Global Infrastructure Funding Gap,” Derivatives Financial Products Report, February 2006
- The University of Chicago Law Review: Recycled Newsprint Laws and Differential Taxation of the Press, 61 U. Chi. L. Rev. 1069 (1994)
Admitted To Practice
J.D., cum laude, University of Chicago Law School, 1994; Member, University of Chicago Law Review
B.S., cum laude, Cornell University, 1991