Practice/Industry Group Overview
We have broad experience in the funds industry and international investment community, working with individuals, fund managers and institutions alike. We combine this knowledge with our international tax structuring capability to provide a unique and comprehensive legal service for our clients, who are principals, managers and investors across the spectrum of funds and investment structures.
We advise on the most appropriate vehicle and jurisdiction and create funds for individual investors, or investor groups, as well as devise structures for funds aimed at international distribution to both private and institutional investors.
Our services encompass advice on all aspects of the creation of investment vehicles, middle and back office functions, as well as regulatory issues, administration and compliance.
A critical, but continually overlooked aspect of structuring a fund is to combine commercial expertise with cutting edge tax advice for fund managers, investors and principals. This is where our investment management team can help - offering tax and legal structuring on both sides of the Atlantic.
We negotiate master and netting agreements, confirmations and prime brokerage arrangements. Our experience extends to the underlying investments, including derivative products.
With offices in London, New York, Greenwich Connecticut, Geneva, Hong Kong and the BVI, we have a wide-angle lens on fund creation across jurisdictions for a tax-diverse range of investors and principals. We advise fund administrators, principals and investors on every aspect of tax planning, including conversion of fund management firm to LLP status where beneficial and structuring employment agreements.
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.
In the UK, we provide specific advice as to most appropriate offering vehicles and listing of funds in various markets, including AIM and the new specialist funds market.
Where funds are distressed or facing insolvency, we provide advice on issues affecting rights, obligations and duties, in conjunction with our litigation, insolvency and regulatory lawyers.
Banks come to us for guidance on leverage and lines of credit to funds and we have the capacity to act as "in-house counsel" for the funds themselves.
- Advising UK resident hedge fund start ups on the establishment of managed account arrangements and offshore hedge funds including master feeder hedge fund structures.
- Advising a private equity start-up in the Far East on the establishment of a private equity funds of funds.
- Advising a US fund of funds on the establishment and offering of interests in a new commodity pool.
- Assisting a Swiss bank on the regulatory aspects of offering different investment products to UK-resident individuals.
- Advising an investment manager and PIPES transaction arranger on general fund management, regulatory and corporate issues.
- Acting for a major financial institution in the process of putting in place structures to enable North Americans and Europeans to invest into a global investment fund.
- Advising hedge fund manager, Winton Capital Management Limited, on the sale of a trading advisory business to an AIM-listed purchaser.
- Advising a leading multi family office in relation to the tax efficiency of investment products offered to their client families.
- Advising a major family office on the restructuring of investment holding and management arrangements into offshore investment funds with hedge, long only and private equity strategies.
- Advised the sponsor of a new fund investing synthetically in funds of hedge funds through a tax-efficient derivative strategy. We assisted with product design, offering materials and negotiated with consultants and derivative counterparties.