Hedge Fund Management, Fiduciary Duty, Derivatives

Specialties & Experience of this Expert Witness

Additional Information

Patrick Kelly provides expert analysis in complex financial matters involving fiduciary duty, conflicts of interest, valuation, fee disputes, disclosure practices, and regulatory compliance, and is available for analysis, consulting, report writing, and testimony. His hedge fund management, financial regulatory, and fiduciary experience, combined with his engineering background, provide a disciplined analytical approach to complex financial matters. He is a Registered Investment Adviser (RIA) representative and former hedge fund founder and manager with experience in derivatives, valuation, and regulatory compliance. He oversaw all aspects of hedge fund operations, including structuring, governance, offering and disclosure documents, portfolio management, financial reporting, investor communications, and fund winddown. He has completed three routine regulatory examinations, including two National Futures Association (NFA) examinations and one California DFPI examination. Areas of expertise include: • Fiduciary duty, standard of care, and conflicts of interest • Investment fund structure, governance, compliance, and investor reporting • Pooled fund operations, capital account valuation, NAV calculations, and fee allocation • Management fees, incentive allocations, expense allocation, and carried interest • Due diligence and investor suitability standards (Accredited Investor, Qualified Client, and Qualified Eligible Person (QEP) • Offering and disclosure documents, including PPMs, subscription agreements, Form ADV filings, operating agreements, side letters • Regulatory compliance involving NFA, CFTC, and California DFPI requirements • Soft dollars and best execution • Anti-money laundering (AML), know your customer (KYC), and investor onboarding procedures Additional Financial Experience: • Proprietary investment and trading experience across equities, FX, fixed income, options, futures, and commodities • Private credit and lending structures • Employee compensation structures including ESOPs, RSUs, stock options, pensions, and profit-sharing plans Technical Analysis, Methodology and Communication: Previously, Mr. Kelly held engineering and project management roles at Motorola Solutions, applying technical expertise, disciplined analysis, and structured problem-solving to complex client-facing technical and operational matters. He prepared written responses to numerous large requests for proposals (RFPs) and delivered technical presentations, communicating technical concepts clearly to non-technical stakeholders. Licenses & Registrations: Registered Investment Adviser (RIA) Representative | California DFPI | CRD No. 6726033 |Feb 2017–Present Approved Principal and Associate Member | NFA | Nov 2016–Dec 2024 Series 65, Uniform Investment Adviser Law Examination | NASAA | Jun 2016–Present Series 3, National Commodities Futures Examination | NFA | Jul 2016–Dec 2026