Regulated Funds

Our regulated funds practice is one of the most extensive and internationally integrated in the market, with specialist teams in the UK, Luxembourg, Dublin, Paris, Frankfurt, Hong Kong, Singapore, Dubai and Abu Dhabi.

We provide comprehensive legal advice on the formation, management, and regulation of all types of regulated fund structures – from LTAF, ELTIF and Lux Part II funds to highly liquid UCITS and ETFs. Our teams also advise on a wide range of other local regulated fund structures (such as ACS, NURS, PAIFs and CAIFs in the UK, France and Hong Kong) and are well-placed to provide our international clients with on-the-ground market insight and practical guidance.

Core services

Our regulated funds team advise on the full lifecycle of regulated funds - from initial concept and structuring, through to regulatory approvals, launch and ongoing operation, to restructure or closure. We act for a broad range of clients, including global institutional managers, boutique fund houses, wealth managers, integrated investment arms of financial institutions, depositaries, custodians, and administrators.

Our services include:

• Fund formation and structuring: Designing and implementing fund structures, establishing new funds and sub‑funds, liaising with regulators and obtaining all necessary approvals, and advising on ongoing governance and compliance.
• Product design and development: Assisting clients in developing innovative fund products and solutions, including new strategies, wrappers and access routes to markets and market segments.
• Fund restructuring: Advising on the restructuring, amalgamation and migration of funds within and across jurisdictions, ensuring consistency with local and international legal and regulatory requirements.
• Marketing and distribution: Guiding clients on cross‑border marketing, fund registrations and notifications, and reviewing and negotiating distribution, platform and intermediary agreements.
• Service provider arrangements: Drafting and negotiating the full range of service agreements, including fund management, depositary and custody, administration, accounting and investor agreements.
• Regulatory compliance: Advising on all aspects of regulatory compliance – from anti‑money laundering and liquidity management to investment and borrowing restrictions – helping clients navigate an increasingly complex and fast‑moving regulatory environment.

Our experience

We have extensive experience advising a broad spectrum of market participants, including some of the largest retail investment fund managers, distributors, and institutional investors. We have a deep understanding of the regulatory frameworks governing regulated funds and maintain strong relationships with industry associations and regulatory bodies enabling us to deliver practical, commercially focused advice tailored to our clients’ objectives.

Many of our lawyers have first-hand industry experience gained through in-house roles or secondments, giving us a clear understanding of the operational and commercial pressures our clients face. Combined with our established international network, this allows us to provide seamless cross-border support and help clients manage the complexities of operating across multiple jurisdictions.

Explore our regulated funds expertise