Asset Management & Investment Funds

Simmons & Simmons has a highly specialised international asset management and investment funds team. We have experts in fund formation, financial services regulation, trading documentation (including prime brokerage and derivatives documentation), corporate structuring and transactions, litigation, taxation and employment regulation. We have an in-depth understanding of the asset management industry. Recognised by the legal directories and the industry as being one of the leading firms in the sector, we advise: 

Sector Focus

We have an alliance with leading US firm Seward & Kissel LLP for hedge fund and asset management work. The alliance combines the strength of pre-eminent hedge fund and asset management practices in London, New York and Hong Kong to offer a top tier combined service for hedge funds and their managers around the world. Clients have immediate access to full service hedge fund and asset management expertise: from fund formation and management, to all advisory services such as regulation, derivatives, corporate structures, tax, litigation, employment, IP, finance, government investigations and transactional services.

  • Awarded Employment Law Firm of the Year and Investment Funds Law Firm of the Year at the Asian Legal Business Law Awards 2014
  • Best European Law Firm of the Year HedgeWeek Awards 2013 and The Leading Law Firm at the Hedge Fund Journal Awards 2013 – this is the 3rd year running that the firm has won this double accolade 
  • we advise 37 of the top 50 European hedge fund managers and 16 of the top 20 US hedge fund managers by AUM
  • we advise 13 of the top 20 Global Asset Management firms and 15 of the Top 20 European Asset Managers by AUM
  • we advise on the full range of legal and regulatory issues for asset management firms of all types internationally.

Experience

The following are some examples of our recent transactions:

Anacap Financial Partners LLP

  • advising on its acquisition of Cabot Financial from Citigroup Capital UK Limited and Barclays Private Equity

Apax Europe V Fund

  • advising on the acquisition of PCM Uitgevers, one of the leading Dutch newspaper and book publishers

Armajaro

  • advising in relation to its range of hedge funds and on the launch of a multi-strategy fund in the form of an SPC

Aspect Capital

  • advising on the launch of a range of CTA products, including offshore hedge funds, UCITS funds, single-investor funds and managed accounts

Attestor Capital

  •  advising on the launch of a new distressed debt hedge fund and seeding arrangements

BlackRock

  •  advising in relation to its range of hedge funds and on the launch of the BlackRock European Hedge Fund

BlueBay

  • advising on the launch of an emerging markets fixed income hedge fund
  •  conversion to an LLP

BlueCrest Capital Management

  • advising in relation to its range of hedge funds, the group re-organisation and establishment of operations in Switzerland and on the launch of the BlueCrest Alignment and Bluestar Funds

Brevan Howard

  • advising in relation to its range of hedge funds, the group re-organisation and establishment of operations in Switzerland and on the launch of the Brevan Howard Macro FX and Credit Value Funds

Boussard & Gavaudan

  • establishing Boussard & Gavaudan Funds PLC, an Irish domiciled version of their Cayman fund

Capula Investment Management

  • advising on the launch of the Capula Tail Risk Fund, which has become a market-leading convexity fund

Edoma

  • advising on the launch of a new event-driven hedge fund with a team spinning out from an investment bank proprietary trading desk

Finisterre Capital

  • advising on their range of hedge funds and matters regarding the acquisition of a majority stake in Finisterre by Principal Financial Group

Gilde Participaties

  • advising Gilde and other shareholders in the management buy-out of Grozette, Axxicon, Hevea, Curtec, Bakkerij Bart and Johma Signature

Lansdowne Partners

  • advising on the launch of the Lansdowne Europa Fund and the conversion of the Lansdowne Developed Market Funds to a master-feeder structure

Mandarin Capital Fund

  • advising on the minority investment in GVS, a leading Italian manufacturer of automotive, medical and industrial microfilters

Oak Investment Partners

  • advising on a number of transactions, including the MBO and subsequent sale of iTouch, the equity financing of Plastic Logic and the investment in and restructuring of the QED and Protean groups

Sun Capital Partners

  • advising and assisting affilitates of Sun Capital Partners, Inc on the Hong Kong, Chinese, Korean, Malaysian and Indian aspects of their acquisition of the Performance Fibers Business from Honeywell International Inc.

Tyrus Capital

  • advising in relation to their group re-organisation and establishment of operations in Monaco

Verrazzano Capital

  • advising on the launch of two Irish domiciled long-short equity hedge funds.

WHARD Stewart 

  • advising on the launch of a macro fund investing in emerging market currencies and interest rates with a team spinning out from an investment bank proprietary trading desk.

Winton

  • advising on the listing of a new share class in Winton Futures Fund on the Irish Stock Exchange 

A leading life sciences private equity house

  • acting for a leading life sciences private equity house on an auction process

A range of clients

  • advising a range of clients, including independent fund managers as well as fund management arms of global banking groups, on private equity and real estate fund formation and related carried interest and co-invest incentive arrangements
  • advising institutional investors on their commitments to private equity and real estate funds
  • advising various clients on restructuring their private equity fund management businesses, including by way of mergers and joint ventures.

Specialist Expertise

The core asset management team is based in London and is led by 80 partners and supported by 105 associates and 30 other legal staff. The wider international team operates primarily from our network of international offices.

The focus of our practice is on the following key areas:

Fund structures

  • Hedge funds – advising hedge fund managers on the full range of issues relevant to the launch and management of hedge funds and funds of hedge funds.
  • Private equity funds – advising financial institutions and independent private equity managers on the full range of legal structuring and implementation issues relating to the formation of private equity funds and funds of private equity funds, and in relation to investing in private equity funds.
  • Real estate and infrastructure funds – advising on all forms of property fund (closed- and open-ended, corporate and partnership, onshore and offshore) including specialist tax structuring.
  • Listed closed-ended funds – advising asset managers and fund sponsors in relation to the launch and restructuring of closed-ended funds (including investment trusts).
  • Retail funds – advising asset managers on the launch, restructuring, promotion and operation of UK unit trusts and open-ended investment companies (OEICs), UCITS funds (including Luxembourg and Irish funds) and other funds available for promotion to the public.
  • Exchange Traded Funds (ETFs) – advising on the full range of issues relevant to the launch and management of ETFs.

Regulatory

We advise Asset Management & Investment fund firms on the full range of financial services regulatory matters, including advising on all aspects of compliance with applicable regulatory requirements as well as strategic regulatory issues relating to such matters as business reorganisations and start-ups, fund marketing and short selling, often involving a cross-border element.

Derivatives

We advise the user side of the derivative market on products including bespoke structures and high-volume products as well as general advice on the full range of exchange-traded and over-the-counter products (eg ISDAs and repurchase agreements).

Corporate M&A

Focusing on mergers and acquisitions, ownership structures and IPOs of client businesses in this sector, we have significant experience of buying and selling asset management companies and businesses (including strategic stakes) and private equity transactions.

Tax and other issues

We regularly involve our specialists in tax, litigation, property, employment, intellectual property, IT, data protection and insurance law to advise our clients.