Nickolaus Darsch is Managing Director, responsible for client development activities and contributing to firm growth strategies. Nick focuses on building strategic investment adviser and industry partner relationships and supports product structuring, governance, and operational design efforts. In addition, Nick leads the firm’s retail alternatives practice including interval and tender offer funds, business development companies, as well as wealth platforms. Nick joined Ultimus in July 2019 as Senior Vice President, Business Development.

Prior to Ultimus, Nick held multiple roles within SS&C Technologies (including predecessor firms DST Systems, ALPS, and Boston Financial Data Services) in sales, strategic relationship management, product, and research groups. In 2022, Nick was named to the Rising Leaders Council by the Institute of Portfolio Alternatives and previously selected as a “Rising Star” in the Asset Management industry by Fund Directions. Nick serves on various industry committees including IPA, NICSA, and ICI.

Nick received B.S. from Bentley University in Economics and Finance and an MBA from the McCallum Graduate School of Business at Bentley University.

Mr. Stricker serves as Managing Director of Operations, providing guidance and direction for portfolio trade operations and client relations groups at FS Investments. Prior to joining FS Investments, Mr. Stricker was a Senior Vice President at Behringer Investments, leading the shareholder operations group. Prior to Behringer, Mr. Stricker held senior operations roles at both OppenheimerFunds and American International Group.  

Mr. Stricker received his B.A. in Russian Language from James Madison University and his M.B.A. from Vanderbilt University.

Richard Horowitz has represented both registered investment companies, including open-end and closed-end funds, and private funds, such as hedge funds and private equity funds, for more than 20 years. He has particular experience with alternative strategy mutual funds, such as manager-of-manager funds, and closed-end funds of hedge funds and private equity funds.

Mr. Horowitz is the co-head of Dechert’s Permanent Capital Practice and regularly advises alternative asset managers in their efforts to access permanent capital through Business Development Companies (BDCs) and closed-end funds. He has obtained SEC co-investment exemptive relief for many BDC and closed-end fund clients and regularly advises on complex co-investment issues. He obtained a unique no action letter permitting the first (and only) master/feeder BDC structure. He is a frequent speaker at conferences regarding developments and trends affecting BDCs and other alternative investment vehicles.

Mr. Horowitz has advised some of the largest companies in the U.S. mutual fund industry, including Merrill Lynch, Morgan Stanley, and Dreyfus Family of Funds. He regularly advises mutual funds on the full range of Investment Company Act issues, including disclosure under the new summary prospectus, affiliation issues, funds, and other compliance issues. Over the years, he has worked on numerous fund merger transactions. He has obtained no action relief on behalf of clients on a variety of issues, including the ability of mutual fund wrap fee programs to charge deferred sales loads and ‘40 Act issues associated with a three-tier registered fund of hedge funds structure.

Mr. Horowitz has organized and structured both domestic and offshore private funds. He regularly advises investment advisers on all aspects of regulatory and compliance issues under the Investment Advisers Act, including hedge fund best practices, codes of ethics, trade allocation issues, presentation of prior performance, and U.S. private placement marketing issues.

Mr. Horowitz also advises various publicly traded permanent capital vehicles, such as REITs, on their ability to avoid coming within the definition of an investment company by relying on one or more exemptions under the Investment Company Act.

Mr. Horowitz has been recognized by The Legal 500, which noted that “Richard Horowitz provides immediate advice and breeds confidence in his advice. He offers a very good combination of theory and practicality.”