Private equity and venture capital funds
We are a market leader in the formation, marketing and ongoing operation of all types of private equity and venture capital funds, including secondaries funds and fund of funds. We act for a broad cross section of private equity managers, from well-established managers with several funds to new start-ups and from larger funds with a global investor base to smaller funds with a more restricted UK investor base. We also act for limited partners on their investments into funds. Our diverse practice means that we have exceptional market knowledge and unparalleled experience in advising on the legal structures and terms of private equity funds.
- Fund formation: We are able to take new and
experienced managers through the process of raising a private
equity fund, from forming an appropriate management vehicle and
obtaining authorisation from the Financial Services Authority, to
establishing a tax-efficient fund structure and marketing the fund.
We advise management teams on all aspects of the structuring and
terms of their incentive arrangements.
We are recognised by clients for our fund formation expertise and our ability to manage complex cross-border projects. A substantial proportion of our work is international in nature and we increasingly lead fund formations where there is little or no actual UK nexus, and act for international clients in marketing their funds. - Restructuring: We have carried out a good deal of restructuring work as a result of the credit crunch, acting for both general partners and limited partners, as well as advisory boards of limited partners, on potential fund restructurings, various secondary transactions and dealing with defaulting investors and no fault divorce provisions. We have also acted for several new managers looking to invest in distressed and turnaround opportunities.
- Ongoing advice: Our role does not end with fund formation; we advise managers on ongoing issues between fund raisings, including assisting with the day to day operation of funds where legal input is necessary.
