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Investment fund formation

In order to succeed in an increasingly international, heavily regulated and technology-enabled industry, asset managers must reinvent themselves continuously. Challenges include capitalizing on opportunities arising from fast-growing international markets, developing innovative new funds, ensuring regulatory compliance and managing risk. Having been at the forefront of investment fund product development and regulatory interpretation for the industry since the 1980s, we bring you an innovative and proactive approach to working on fund formation.

Investment fund formation advice and support

We provide fund managers and sponsors pursuing asset strategies of all kinds with a full range of services globally. These extend from the initial creation of a fund management or advisory business and formation of its first fund, to advising on the most sophisticated tax, securities, derivatives and transactional matters for clients managing significant portfolios.

Our team can guide you in every aspect of the fund formation process. Our comprehensive approach brings together our colleagues from across practice areas – Corporate, Tax, Securities – to help anticipate issues before they arise and to allow you to take advantage of new opportunities.

An experienced investment fund team

We advise on all types of public and private, open-ended and closed-ended, listed and unlisted funds for institutional and retail investors including:

  • UCITS funds, Non-UCITS Retail Schemes and Qualified Investor Schemes
  • investment companies and investment trusts
  • private equity funds, venture capital funds and leveraged buyout funds
  • hedge fund strategies including long-short equity funds, global macro funds, quantitative strategy funds, arbitrage funds
  • levered and unlevered credit funds, distressed debt funds, opportunistic credit funds
  • real estate funds, mortgage securities funds and timber funds
  • infrastructure funds
  • physical commodities funds
  • emerging market assets
  • charity funds

We advise on all types of fund structures and prepare all documentation necessary to achieve a successful fund launch. Our advisory services include:

  • structuring onshore and offshore funds, including master funds, feeder funds, parallel funds, friends and family funds, blocker corporations and “pass-through” entities, as well as funds excluded from the Investment Company Act of 1940 under sections 3(c)(1), 3(c)(5) and 3(c)(7) and Regulation S offering
  • structuring funds to account for a wide array of asset strategies including equities, debt, commodities, real property and timber
  • document preparation including prospectuses, private placement memoranda and limited partnership agreements, management, advisory and sub-advisory agreements, side letters, subscription agreements, prime brokerage agreements, placement agent agreements, depositary agreements, custody agreements, administration agreements and other documents necessary to have a successful fund launch
  • preparing investment adviser operating agreements, advising on tax and compensation matters, designing employment and non-compete agreements, succession planning and regularly providing counsel on conflicts of interest and other similar matters
  • regulatory requirements pre-launch such as FCA authorisation, registration as an investment adviser, commodity pool operator or commodity adviser, assessing passporting and private placement regimes globally, and other regulatory matters including the Alternative Investment Fund Managers Directive (AIFMD)
  • all aspects of national, state, local, domestic and international tax

Contact our investment fund team

If you would like any further information or need advice on investment funds, please contact our legal team.

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