The investment management industry currently faces unprecedented regulatory change on a global basis. No other law firm is better placed to address these challenges for investment management clients than Clifford Chance.
The industry includes a wide range of participants, from corporates, financial institutions and sovereign wealth funds to individuals, each managing very different and often diverse assets in accordance with very different strategies. The needs of a global private equity fund, for instance, are very different from those of a start-up hedge fund manager.
However, both face the same demands for superior performance from their investors. Coupled with the new world of increased regulation with its extra-territorial application, and the increasing requirements of investors for a more institutional approach, an investment manager's job is harder than ever.
Our understanding of each part of the investment management industry, coupled with our global network of expertise, allows us to tailor our advice to a client's exact needs while accessing the very latest market thinking and advice from around the world, whether under Dodd-Frank or in relation to AIFMD or EMIR.
We advise on fund formation, licensing, tax, transactional and M&A, as well as on contentious matters. We also advise on regulation affecting the investment management industry across the financial markets, including on all the up-to-the-minute developments. With experienced lawyers from our international network, we can offer a global or local solution as you require, including advice on the impact of extra-territorial rules in each jurisdiction.
Our clients include the world's leading asset management companies, alternative investment funds, private equity funds, insurance companies and private banking businesses. They range in size from household names with a five-continent footprint to start-up or spin-off funds.
With more change on the horizon for the investment management industry, it is essential that industry players select advice from those that specialise in their sector and understand their business and its drivers. Our lawyers focus only on investment management law, and have the industry knowledge to address your immediate needs – and to help predict your next challenge. We provide the legal innovation you can't live without.
Our global regulatory team is advising on and/or assisting with restructuring, reorganisation, amending fund documentation and/or license application in relation to AIFMD implementation for numerous asset manager clients across the globe, including clients based in Europe, the US and Asia.
- We advised Equistone on the Equistone Partners Europe Fund IV fundraising, Equistone's spin-out from the wider Barclays group, the establishment of the internal Equistone partnership arrangements and on the impact of the spin-out on the manager's three existing funds.
- We acted for HOPU Investment Management (a PRC private equity firm), on the fund establishment and regulatory aspects of a private equity fund, which will make China-related investments in various sectors including but not limited to consumer, resources (energy, mining, consumer, and agriculture) and financial services.
- We advised International Finance Corporation (IFC) on its Russian Bank Opportunity Fund. This target $1 billion fund was formed to offer an opportunity for select investors to participate in the continuing investment program of the IFC in the Russian Federation's financial sector.
- We advised AXA Real Estate Investment Managers in the setting up of the €2 billion pan-European debt fund Commercial Real Estate Senior 1 (CRE1) and in the various subsequent closings.
- We advised Credit Suisse on the sale of its ETF (exchange traded funds) business to BlackRock in the context of the integration of Credit Suisse's asset management operations into its larger private banking and investment banking arms.
- We advised Macquarie Bank Limited and the existing management team on the sale of MGPA Limited, a private equity real estate investment advising company, to Blackrock, Inc.
- We advised several clients who were among the first group of international hedge funds selected into Shanghai's pilot program on "Qualified Domestic Limited Partners". This program for the first time allows international hedge funds to access domestic Chinese investor capital by setting up a RMB-denominated feeder fund in Shanghai, which will be converted into USD and invested into offshore master funds.
- We advised a group of investment professionals on their spin out from Duet Private Equity Limited (Duet) in order to form DRC Capital, an independent investment advisor and asset manager in the real estate debt sector.