LEGAL
Investment Funds
Global investment funds offering covering all aspects of the design, establishment, distribution, investments and operation of managed investment schemes and other products
Search our PeopleContinuing market volatility is likely to impact the performance of investment funds for some time, creating opportunities and challenges for fund managers as well as institutional investors alike.
Ashurst covers a wide range of investment strategies and has expertise in listed and unlisted funds, alternative investments, secondary fund transactions, co-investments alongside funds, management spin-outs, carried interest schemes, sovereign wealth funds and pension funds. Whatever your needs, we can deliver tailored and pragmatic advice on all legal aspects of fund management and investments.
Establishing strong foundations
We provide cost-effective guidance on all aspects of setting up, structuring and managing of funds.
Practical investment advice
Our lawyers deliver the expert advice to guide your institutional investment decisions.
Integrated expertise
Our partner-led teams collaborate with Ashurst's extensive network of tax, regulatory, transactional and finance experts to support you holistically.
How we can help
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Private Equity Funds
Managing a private equity fund is not for the faint-hearted
Read morePrivate Equity Funds
Managing a private equity fund requires a deep understanding of specific industries and the potential financial performance of individual businesses over the medium to long term. Fund managers also need to have a comprehensive knowledge of market practice.
Ashurst delivers valuable insights and innovative solutions across the private equity lifecycle. We advise on all types of private equity funds, from single country venture capital funds to the largest international buyouts. We are continually negotiating fund terms with leading institutional investors and have an excellent knowledge of market practice, understanding the key factors which drive decisions. Our investment funds team can provide you with tailored advice across the spectrum of private equity activity, from fund formation through to investment and exit. We have extensive experience acting for leading institutional sponsors and investors in relation to private equity funds.
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Infrastructure Funds
Infrastructure funds that invest in public assets and services can be an attractive addition to institutional investors’ public equity portfolios
Read moreInfrastructure Funds
Infrastructure funds investing in both public and private assets, particularly in relation to renewable assets, can be an attractive addition to any portfolio. For fund managers, setting up an infrastructure fund requires an expert understanding of the infrastructure sector's unique challenges and opportunities.
Ashurst's infrastructure funds legal service covers fund structuring, formation, investment and exit. The infrastructure funds we act on invest in the full range of infrastructure assets, including renewable energy, oil and gas. Our holistic approach through our global network means our lawyers continually advise fund sponsors, investors, principals, financiers and contractors on some of the world's most significant infrastructure projects and infrastructure funds.
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Credit and Debit Funds
Market conditions are mixed for credit funds and collateralised loan obligations (CLOs)
Read moreCredit and Debit Funds
Market conditions are mixed for credit and debt funds. While these investments remain attractive for some, the supporting economic and regulatory conditions remain tight. Given the complexity of structuring credit and debt funds, obtaining sound expert advice is essential.
Our highly experienced, multi-disciplinary investment funds team included credit and debt fund specialists, combining global expertise and local knowledge. We advise on strategies encompassing junior and mezzanine funds as well as senior direct lending funds. We have expertise, which includes tax and regulatory issues, in regulated and unregulated fund structures, investment funds, offshore investment companies and acquisition finance. Our experience extends across the full range of fund structures including those based in Luxembourg, Ireland, the Channel Islands and the UK. We also have particular experience in the formation of credit funds, including direct lending funds, in the European market.
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Real Estate Funds
While volatile economic conditions have put the global property market under pressure in recent times
Read moreReal Estate Funds
While volatile economic conditions have put the global property market under pressure in recent times, most real estate funds have performed well over the past decade. These funds have been considered attractive due to their ability to offer transparency, portfolio diversification, liquidity, dividend-related income, and protection against inflation.
Ashurst delivers expert advice on establishing, investing, restructuring, and operating real estate funds. We advise on open-ended and closed-end real estate funds, utilising all typical fund vehicles, corporate vehicles, and limited partnerships across multiple jurisdictions. We advise on the full range of real estate funds, from multi-investor to club deals on an opportunistic, value add, core-plus or core basis. In addition, we advise on all types of joint ventures for real estate clients and equity clients, including both leveraged and unleveraged ventures, those with local authorities, regeneration agreements, private clubs of investors and two-party ventures.
For expert legal updates and insights from across the global real estate market, see our Real Estate Hub.
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Listed Investment Funds
While listed funds can offer substantial returns
Read moreListed Investment Funds
While listed funds can offer substantial returns, they can also be subject to considerable market volatility. Fund managers can gain peace of mind by obtaining expert legal advice whenever developing, launching, or restructuring a listed investment fund.
Ashurst advise some of the market's largest, most complex, and high profile listed investment funds. Our team has expertise in the launch, development and reconstruction of listed investment funds across the globe. This includes investment trusts, IPOs, and REITs, as well as offshore investment companies. We also advise investment banks in their capabilities as financial advisers and bookrunners on listed investment company transactions.
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Secondary Funds
The secondaries market is becoming recognised as a liquidity tool
Read moreSecondary Funds
Once a last option resort for exiting, or reallocating capital for LPs while allowing GPs to continue managing high-quality assets, the secondaries market is becoming recognised as a liquidity tool, showcasing a growing market for manager-led deals and more individualised liquidity options.
Ashurst's investment funds team have experience and knowledge of key issues relating to secondary transactions and secondary funds. In particular, this expertise covers secondary transactions on private investment fund portfolios and secondary transactions on portfolio companies, including the formation of a new fund when required.
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Managed Accounts and Co-Investments
Managed accounts and co-investments often go hand in hand with core funds and can be an option to bridge a funding gap
Read moreManaged Accounts and Co-Investments
Managed accounts and co-investments often go hand in hand with core funds and can be an option to bridge a funding gap. They can provide a fund manager with greater control over their investment portfolio while developing and improving skills, expertise and knowledge on the investment side.
Ashurst offers extensive experience acting on managed accounts and co-investments. These arrangements have many different forms, ranging from simple management agreements to complex fund structures, tailored to suit the specific needs of the fund managers and investors.
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Fund Finance
Fund financing is a growing sector that presents an opportunity to generate investment returns by providing loans to private market funds
Read moreFund Finance
Fund financing is a growing sector that presents an opportunity to generate investment returns by providing loans to private market funds, including credit funds, private equity funds, real estate funds and infrastructure funds. The market for lending to funds is likely to grow significantly in the years ahead as the size of private market funds also grows.
Ashurst delivers integrated, tailored, and cost-effective advice that covers all aspects of fund finance. Our global investment funds team and global finance team work for many of the world’s largest banks, funds, and other industry participants. We advise on a variety of financing structures, including subscription finance, secondaries financing, and asset-backed, hybrid and general partner facilities. Our lawyers have a long track record of successfully managing large, complex multi-jurisdictional transactions.
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Australian Funds
Australian investment funds face a challenging near-term future amidst ongoing global economic instability
Read moreAustralian Funds
Australian investment funds face a challenging near-term future amidst ongoing global economic instability. At the same time, new areas of opportunity are likely to appear for funds in areas such as the energy transition, public infrastructure and technology sectors.
Whether you are a fund manager, trustee or service provider, Ashurst can deliver advice across the full spectrum of investment funds. We can also support you on all aspects of the design, establishment, distribution and operation of managed investment schemes and other fund products. Our team covers listed and unlisted fund matters as well as wholesale and retail funds. We are experts in dealing with new offerings in the fintech space. We also have deep experience advising on superannuation law and practice.
Funds Insider Issue 9
This edition focuses on hot topics across a wide range of practice areas of particular interest to private capital clients.
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Legal development New ESMA Questions & Answers on its Guidelines on Funds' Names Using ESG or Sustainability-Related Terms and Updated CSSF FAQ on SFDR
19 Dec 2024
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Legal development CSSF Alerts Investors To Greenwashing Risks In Green Finance
09 Dec 2024
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Legal development Autumn Budget 2024: Taxation of Carried Interest for UK Executives
01 Nov 2024
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Legal development New guidance on the practical application of SFDR published by ESAs - update of Q&As
01 Aug 2024
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Legal development Luxembourg is expanding its legal framework for dematerialised securities - Introduction of new Blockchain IV bill of law
30 Jul 2024
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Legal development France at a Crossroads: Navigating Through Post-Election Turbulence
French elections 2024: as far right won first-round victory, is instability bound to become the new normal?
04 Jul 2024
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Legal development Investment Funds: US Regulators propose new KYC requirements
24 Jun 2024
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Legal development What will SFDR 2.0 look like according to the regulators that matter? Joint ESAs opinion on the assessment of the SFDR
24 Jun 2024
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Our works, awards & rankings
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News Ashurst advises BNP Paribas on its entry into exclusive negotiations with La Banque Postale to establish a partnership for the distribution of a mobility offer
20 Dec 2024
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News Ashurst advises Patrimonium on financing for Vorndran Beteiligungs-GmbH
19 Dec 2024
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News Ashurst advises MEAG on Investment in Data Centre Platform with four Data Centres located in Frankfurt and Zurich
17 Dec 2024
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