Investment management

We have extensive knowledge in the structuring and restructuring of EU, UK and Italian investment funds. Our advice focuses on fund formation, fundraising, rules and PPMs, side letters, investment and advisory agreements, placement marketing and offers including negotiations with international and institutional entities including family offices and high net worth individual/ ultra high net worth individuals. We also assist with regulatory and compliance issues, the formulation of co-investments, exits, liquidations and wind downs.

In addition, our team advises in connection with AIFMD (Alternative Investment Fund Managers Directive) on rules and implementation, establishment and regulation of AIF and AIFM, management and marketing passports, cross border activities, EU and Extra-EU jurisdictional surveys, third countries and temporary regimes.

Our practice includes assistance with alternative banking vehicles and structures, establishment of credit/debit funds and issues of debt, illiquid and distressed asset structures and management, the private debt market and borrowing and lending of funds.

Our team regulated intermediaries including banks and insurance undertakings in structuring and offering products and services and has capital market experience in securitisation relating to RMBS, CMBS and healthcare, as well as IPOs on alternative markets.

Members of our team are called upon to act as an arbitrator in proceedings related to funds, insurance, banking and capital market issues. We also advise on fund related transactions such as secondary disposals of LP interests and co-investments. We also regularly advise managers on the terms of their participation in carry and co-investment arrangements on joining or becoming fund management groups.

In the US, we are well versed in the qualifications necessary for exemption from the registration requirements of the Securities Act, the Investment Company Act and the Commodity Exchange Act.

Recent work

  • Acting for an ESCO in reshaping the group at EU level and in structuring investment funds aimed at green building, retrofitting and energy saving.
  • Acting for an Italian management company in establishing a debit/credit fund.
  • Advising 'Be Finance', an Italian leading credit broker, in the securitisation of tax receivables.
  • Assisting a leading international banking group in the reorganisation of their Italian branch under CRD IV.
  • Acting on a £20m secondary sale of co-investments in a major UK private equity fund.
  • Advising a seed investor on a seed investment into a Cayman debt fund.
  • Advising a seed investor on its participation in an EU trade receivables fund and its associated investment in the UK LLP manager.
  • Advising the Fine Art Fund Group on structuring co-investment arrangements.
  • Advising an investor in a UK private equity firm on the shareholders' agreement governing its co-investment obligations, carry participation and funding obligations.
  • Advising on the terms of a limited partnership agreement governing co-investment arrangements between various funds of funds and a UK fund manager.
  • Advising LPs on their participation in UK and US limited partnerships, side letters and deeds of adherence including advice on tax issues.

 

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