Investment Funds

We have an established funds practice which focuses on hedge funds, offshore investment funds, investment trusts, property funds, private equity and venture capital funds, and all the regulatory and tax issues involved therein.  We also have extensive experience of Islamic funds. 

Whilst our focus is on unregulated funds, established both in the UK and Germany, as well as overseas in all the main offshore locations, we also act for and have established authorised and recognised funds.

Our funds work is handled by a firm-wide, cross-departmental group, which draws expertise from financial services, corporate, finance, property, employment and tax to provide a full service to the client.  Our teams are therefore equipped to handle all aspects of transactions, from fund set-up to authorisation of investment managers, and full legal support on subsequent requirements of the fund and investment manager, including ongoing transactional and tax-related advice on the contractual, regulatory, transactional, and financing aspects of the fund.

The group acts for the funds themselves as well as their sponsors, managers, principals and investors.  Through our Wealth Group (which combines the entrepreneurial and commercial flare of our corporate lawyers with the specialist expertise of our private client lawyers) we are also increasingly offering advice to ultra high-net-worth individuals and families on their investments into funds.  We also advise these and institutional investors on the acquisition and disposal of fund interests.

Our expertise covers a spectrum of fund types, including hedge, currency, derivatives, fixed income, long-only securities, emerging markets, energy, property and UCITS, as well as private equity.  Onshore work tends to be predominantly UK limited partnerships and LLPs.  In conjunction with overseas counsel we set up funds in all the main offshore locations including BVI, Bermuda, Cayman Islands, Jersey, Guernsey, Isle of Man, Ireland, Luxembourg and Mauritius.

Areas of expertise

  • Secondary Transactions:  Our funds practice has extensive experience in advising in relation to acquisitions and disposals of secondary fund interests both in the Europe and internationally. 
  • Hedge funds:  Members of the team have advised in relation to hedge funds and other offshore fund structures since the early 1990s and have an established reputation among other service providers in the sector such as prime brokers, brokers, administrators and custodians, as well as overseas legal counsel.
  • Property funds:  We have a very active real estate funds practice that works closely with the firm’s large real estate practice and established hotels group.  We work closely with the promoters and intended asset managers to structure funds for both single purpose and multiple asset projects. 
  • Private equity funds: We act for a range of private equity and venture capital funds in Europe and the Middle East. We have substantial experience of funds formation, carry structures and investment work.
  • Investment trusts: We have extensive experience advising on investment trusts in the UK both in providing ongoing advice to the trusts as well as providing advice on investment programmes.
  • Islamic funds:  We have specialist expertise in advising on Shariah compliant Islamic private equity, venture capital and real estate funds. We have acted on a number of private equity and investment funds including those involved with Shariah compliant hotels and also property development both in the UK and internationally.
  • Regulatory aspects: We have a recognised and dedicated financial services regulatory capability.  Our financial services lawyers are also active members of the investment funds team providing expertise and practical advice on regulatory matters affecting the structure, documentation and marketing of funds, as well as FSA authorisations for investment managers/advisers and ongoing day-to-day advice.
  • Tax: Our tax team is integral to our funds practice, advising on the most tax-efficient structures (including corporates, LLPs limited partnerships and unit trusts). We act for significant clients in a number of sectors and jurisdictions, and offer innovative solutions to deal with issues arising out of specialist investment opportunities.