Our investment funds practice is broad based, covering both FCA authorised funds as well as unregulated funds such as property and private funds. We also have experience in certain niche type funds including charity funds, investment funds created under particular statutes and private investment vehicles.
Our business is built on relationships. We are pleased that our long standing asset management clients see us as their trusted go-to adviser on investment fund matters and we enjoy adapting our knowledge and expertise to assist new clients.
In order to support our clients we offer a topical webinar programme, briefings, bespoke in-house training as well as playing an active role in industry associations.
FCA authorised funds
We have a very strong focus and expertise in the FCA authorised funds sector. We advise clients on the different types of UK authorised fund structures including authorised unit trusts, open-ended investment companies (OEICs) and authorised contractual schemes. We advise across the full spectrum of regulatory types of authorised funds including, UCITS, NURS, QIS, MMF and CAIF types. We have been involved in the new LTAF structure, with various webinars and briefings on this topic.
We cover all aspects for FCA authorised funds from establishment (including preparation of all relevant fund documentation and relevant FCA forms), implementing changes during the life of the fund, including regulatory changes due to the AMMS and impact of Brexit, change of service provider fund mergers, fund terminations and wind-ups. We support clients develop their fund offerings and how they bring such funds to market, including negotiating with platforms and drafting distribution agreements. We have recent experience of working on fund authorisations which have specific ESG criteria as well as impact investment funds.
Alternative investment funds
We act for the managers and promoters of funds that are not FCA authorised funds covering, property, venture capital and private equity (including EIS and SEIS) funds. We have particular experience acting in relation to funds targeting tax exempt investors including charity funds.
We advise on the full life cycle for such, from initial structuring to the establishment of the management or advisory entity, the formation of the fund vehicle, first and subsequent closings, fund deployment and winding up. We advise on both onshore and offshore structuring, management and advisory agreements and the preparation of investor documentation including investment memorandums, limited partnership agreements, subscription documents and side letters, as well as depositary and administration agreements.
Carrying out legal due diligence on alternative funds is a regular part of our work, acting for investors in such funds, whether a large charity investor or a fund of funds. We produce a fund report tailored to the needs of the investor, highlighting any key issues and will then seek to negotiate amendments to the fund documentation where needed via amendments to subscription documents or side letters.