Carl Valenstein is a partner at Morgan Lewis & Bockius LLP and recently relocated to the Boston office
from Washington DC where he practiced for over 30 years. His practice focuses on domestic and
international corporate and securities matters, mergers and acquisitions, project development, and asset
finance covering a wide range of industries and regions, including developed and emerging markets
(Latin America and Africa). He also counsels clients concerning international risk management issues and
has been involved in internal investigations and enforcement cases in this area. Carl is fluent in Spanish
and Portuguese, and conversant in French and Italian.
For more than 20 years, Carl has provided legal assistance to microfinance institutions and assisted public
charities, foundations, social enterprises and entrepreneurs, impact investment venture capital funds and
other impact investors. He founded and co-chairs the Morgan Lewis Impact Investment Initiative, which
is a cross office and interdisciplinary group of Morgan Lewis lawyers engaged in impact investment work.
He is a founding member of the Impact Investment Lawyers Legal Working Group, which holds annual
conferences. Carl is an Adjunct Professor at the University of Michigan Law School and New York Law
School International Transactions Clinics (ITCs) focusing on impact investment. In conjunction with the
Michigan Law School ITC, he represented Habitat for Humanity International in establishing MicroBuild, a
$100 million dollar fund that expands housing microfinance lending and helps thousands of low- income
families globally. The fund received the Overseas Private Investment Corporation’s (OPIC’s) 2016 Access
to Finance Award and recognition by the Financial Times for Social Innovation. He serves on the
Advisory Board of the Michigan Social Venture Fund. Most recently, he represented Jewish Vocational Services in the third Massachusetts pay-for-success contract.