Schulte Roth & Zabel International LLP
Described as ‘exceptional for hedge fund formation matters,’ Schulte Roth & Zabel International LLP‘s London team works alongside the firm’s New York and Washington offices to advise on complex cross-border funds matters. The practice assists both established players and new entrants to the hedge fund space on the creation of novel investment vehicles targetting a range of asset classes, including fintech, cryptocurrencies and other digital assets. Jointly heading the team are Josh Dambacher, whose practice encompasses the structuring of seed capital investments and funds themselves, and Christopher Hilditch, who advises on the structuring of funds, fund transactions and investor issues. Lee Smith also advises on the structuring of funds, with particular strength in launching European funds in addition to assisting funds going through restructuring. Special counsel Amy MacDonagh advises on the launch, operation and restructuring of hedge funds, while fellow special counsel Drew Millerfocuses on compliance, advising on US and European securities law.
Praxisleiter:
Josh Dambacher; Christopher Hilditch
Weitere Kernanwälte:
Lee Smith; Amy MacDonagh; Drew Miller
Referenzen
‘Exceptional for hedge fund formation matters, market-leading practice for hedge fund start-up work.’
‘Josh Dambacher – Schulte’s rainmaker, has exceptional client management skills and a very strong understanding of the commercial requirements of hedge fund clients.’
‘Lee Smith offers deep knowledge of hedge fund matters and is a pleasure to work with.’
Kernmandanten
Alpha Wave Global LP
Credit Suisse Insurance Linked Strategies Ltd.
Decagon Asset Management LLP
Florin Court Capital LLP
Marshall Wace LLP
Pelham Capital Ltd
Qube Research & Technologies Limited
RWC Partners Limited
SEO Management AG
Squarepoint Capital LLP
Highlight-Mandate
- Advised Alberto Gallo and Aditya Aney on the establishment of Andromeda Capital Management Ltd., an emerging global credit manager spinning out of Algebris, an established credit manager.
- Advised Florin Court Capital LLP on the launch of a new systematic macro fund structure.
- Advised Benjamin Durham on the establishment of Decagon Asset Management LLP, a UK-based investment manager with a risk-arbitrate focus.
Simmons & Simmons
Being ‘well plugged in to the hedge fund industry’ allows Simmons & Simmons to support fund managers looking to structure and launch complex new products, with a focus on bespoke structures and fee arrangements in addition to expertise in emerging asset classes such as fintech and digital assets. Devarshi Saksena leads the team, providing support across the life cycle of hedge funds, including structuring, regulation and marketing. Lucian Firth assists with the structuring of hedge funds and managed accounts, while also spearheading the practice group’s ESG work. Sarah Crabb specialises in the structuring of open-ended fund structures, with particular expertise in the fintech and digital asset sectors. Described as ‘the doyen of UK hedge fund lawyers,’ Iain Cullen is noted for handling the launch of several of the UK’s largest hedge fund structures, while managing associates Tom Pointerand Kate Tracey both advise on a range of regulatory regimes, including AIFMD and MiFID II, with the latter also assisting on ESG matters.
Praxisleiter:
Devarshi Saksena
Weitere Kernanwälte:
Lucian Firth; Sarah Crabb; Iain Cullen; Tom Pointer; Kate Tracey; Charlotte Thomas
Referenzen
‘Lucian Firth is pragmatic, commercial, logical.’
‘The firm effectively established hedge funds as a legal practice area in its own right. There continues to be a deep bench with a good scope of knowledge and experience across most alternative asset management sectors.’
‘The firm is also very well plugged in to the hedge fund industry, which can often provide insight and efficiencies when working with new counterparties and service providers.’
Kernmandanten
Brevan Howard Capital Management LP
Man Group
GSA Capital Partners LLP
PGIM Wadhwani LLP
Fosse Capital
Kite Lake Capital Management (UK) LLP
LMR Partners LLP
East X LLP
Theleme Partners LLP
Lansdowne Partners
Aaro Capital
Akin
Both established players and new entrants to the hedge fund manager market come to Akin for support with the launching of new funds, and the firm is also able to advise on regulatory and tax regimes in the UK, EU and US. The practice advises fund managers on seed capital arrangements, hybrid fund structures and the drafting of key documentation. Leading the team are private equity specialist Daniel Quinn, Ian Meade and Tim Pearce, who assist hedge fund managers with the foundation and structuring of funds in addition to regulatory obligations. Hamish Annandale, made partner in January 2023, and counsel Melissa Kinsmore-Wardadvises on the establishment of alternative investment structures.
Praxisleiter:
Daniel Quinn; Ian Meade; Tim Pearce
Weitere Kernanwälte:
Hamish Annandale; Melissa Kinsmore-Ward
Referenzen
‘Very little in the legal world is unique – Akin are just very, very good!’
‘We recently launched a Cayman fund with US and Cayman feeders plus a few extra complications. The process was smooth, turnaround quick and advice was always sound.’
‘I think what may set Akin apart is the preparedness to express a clear view on issues – and the strong commerciality they have.’
Dechert LLP
Dechert LLPprovides ‘clear and direct guidance to clients’ including multi-billion dollar managers and smaller industry players. The practice is well versed in advising hedge funds on cross-border operations, advising on the start-up of new funds and related seed funding deals, while supporting existing funds with regulatory, tax and corporate matters. Leading the team is Gus Black, head of the firm’s financial services group. Abigail Bell advises both hedge and hybrid fund structures on investing in a range of asset classes, assisting with a range of corporate documentation, seed funding transactions and regulatory compliance. Craig Borthwick specialises in large-scale fund launches, with particular expertise in managed accounts and co-investment agreements, while Mikhaelle Schiappacasse, head of the firm’s European ESG group, assists hedge funds across a variety of domiciles on complying with sustainability regimes, including Sustainable Finance Disclosure Regulation (SFDR).
Praxisleiter:
Gus Black
Weitere Kernanwälte:
Abigail Bell; Craig Borthwick; Mikhaelle Schiappacasse
Referenzen
‘Highly knowledgeable, alert to streamlining opportunities for shared clients, clear and direct guidance to clients.’
‘Craig Borthwick is a particular industry expert in the hedge fund structuring and launch space.’
‘Abigail Bell is the main partner we deal with. She is very commercially minded, she knows the different pressures we have and how best to tackle problems in an efficient manner for our business size. She is a pretty big player in our industry in London.’
Kernmandanten
All Africa Partners LLP
Almace Asset Management LLP
AlphaMiner Capital
Amundsen Investment Management
Adelio Partner
ARP Capital Partners Limited
Aster Capital Management Limited
Bayforest Capital Limited
BlueBell Partners Limited
BlueCove Limited
Cheyne Capital Management (UK) LLP
EFG Asset Management/New Capital
Eleva Capital LLP
EMFI Capital Limited
EOF Partners
Exor
Eques Partners
FIFTHDELTA
Gemcorp Capital LLP
Genavest Capital Limited
Greentrail Capital
Infusive
Kryger Capital
LeCap Asset Management
Lynx Asset Management
Machina Capital
Maven Securities Limited
Mile End Capital
Nekton Capital
New Wave
Numen Capital
Nyhavn Capital
Odyssean Capital LLP
OxFORD Asset Management Company
Palmerston Capital Management
Palm Lane Capital
SGCM Capital LLP
Soloda Investment Advisors LLP
Sparta Capital Management
System 2 Capital LLP
TT International
Tico Capital
Tresidor Investment Management LLP
Westbeck Capital Management LLP
Highlight-Mandate
- Advised FIFTHDELTA on its $1.3bn raise.
- Advised Nekton Capital Limited on the successful launch of their flagship fund.
- Advised Exor on the successful launch of the new Exor Special Opportunities master and feeder sub-funds.
Sidley Austin LLP
Sidley Austin LLP‘s hedge funds team advises on a wide variety of hedge fund strategies and structures, from credit and fixed-income structures to global macro and managed account funds. The firm is also noted for its work advising new or spinoff fund managers on the launch of their first funds. Leading the firm’s funds practice is James Oussedik, noted for his understanding of credit funds in addition to traditional hedge fund structures. Stephen Ross and Peter Chapmanmoved to Macfarlanes LLP in January and September 2023, respectively.
Praxisleiter:
James Oussedik
Referenzen
‘Strong team with good experience on hedge fund matters.’
‘Very good regulatory expertise in the sector.’
‘Practical and commercial advice.’
Kernmandanten
Maniyar Capital Advisors Limited
Amia Capital
Lodbrok Capital
Man Group plc
Serone Capital
Valence8
Promeritum Investment Management
Algebris Investments
Highlight-Mandate
- Advised Maniyar with respect to the launch of a dedicated ERISA fund.
- Acted as fund counsel to the leading global macro hedge fund manager in connection with its flagship fund, advising across the spectrum of ongoing legal, regulatory and tax matters relating to the operation of its business.
- Acted as legal counsel to Lodbrok Capital since its inception as a spinout from another investment management firm, assisting the firm in growing to over $1bn in AUM.
Arnold & Porter
Arnold & Porter acts for hedge fund managers on matters of fund formation and structuring, assisting with the drafting of investor agreements and seed investment terms. The firm also supports fund managers in complying with regulatory obligations, including those laid out under Alternative Investment Fund Managers Directive (AIFMD) and SFDR. Simon Firth heads the practice, advising on the establishment, operation and regulation of hedge funds, with a growing focus on crypto asset funds.
Praxisleiter:
Simon Firth
Kernmandanten
Blockstone Capital
Cultural Capital Fund
RoboCap Partners
S&W Capital Limited
Highlight-Mandate
- Advised Blockstone Capital (a trading name for Meliora Capital LLP) as onshore counsel on the formation of a Cayman Islands fund, Blockstone Digital Assets Multi-Strategy Fund.
- Advised Cultural Capital Fund on a restructuring whereby it moved its assets to a new UK company.
- Acted as UK counsel to S&W Capital Limited on the formation of three Cayman Islands litigation funding funds investing in UK litigation: VWM Capital Litigation Fund LP, VWMCAP Litigation Fund LP and VWMCAP Litigation Fund 2 LP.
Haynes and Boone CDG, LLP
Haynes and Boone CDG, LLP launched its London funds team in May 2022, spearheaded by the arrival of practice head Ben Watford from Eversheds Sutherland (International) LLP. The practice focuses primarily on advising small and start-up hedge fund managers investing in emerging asset classes, advising on both the formation of new funds and updating the documentation of existing funds. Newly promoted partner James Tinworth joined from Fieldfisherin September 2022, specialising in alternative funds and related regulatory matters. Associate Christopher Orfordadvises fund managers on the creation of cross-border fund structures and fund transactions.
Praxisleiter:
Ben Watford
Weitere Kernanwälte:
James Tinworth; Christopher Orford
Referenzen
‘I have worked with HB for two different mutual clients and have been consistently impressed with the quality of their service. Wishing them well as they develop their London practice.’
‘Ben Watford, James Tinworth and Christopher Orford have all displayed excellent legal expertise, fast responsiveness, a strong client service ethic and are good guys to work with.’
‘The team is on hand almost 24 hours a day. Able to turnaround work quickly and with expertise.’
Kernmandanten
Conductor Capital Asset Management LLP
Jenga Investment Partners Limited/Jenga Global Offshore Fund Ltd and Jenga Global Master Fund Ltd
ACM Capital Management Ltd
Velox Capital Partners
Lundy Investors Limited
Qbera Trade Finance Master Fund
Emona Capital LLP
GreenLake Asset Management LLC
Shikuma Master Fund
Kimura Performance Limited
Dhow Kimura African Commodity Trade Finance Fund Ltd
Berry Street Capital Management
Kimura Capital LLP
Frontier Road Limited
Westbeck Capital Management LLP
Tico Capital
Highlight-Mandate
- Advised Conductor Capital Asset Management LLP on the launch of an energy commodities-focused fund.
- Advised Jenga Investment Partners Limited on the establishment and launch of Jenga Global Offshore Fund Ltd and Jenga Global Master Fund Ltd, a Cayman master-feeder fund.
- Assisted ACM Capital Management Ltd on the drafting of a private placement memorandum, subscription agreement and reviewing management documents ahead of fund launch.
Shearman & Sterling LLP
Shearman & Sterling LLP‘s hedge funds practice centres on the launch, restructuring and re-domiciliation of funds with assets under management between $3-10bn, acting predominantly for fund managers but also investors. Practice head John Adams advises on the drafting of fund documentations and subsequent launches, and is also well versed in UK and EU regulatory regimes. Associate Jessica Brown assists both funds and investors with M&A transactions in addition to supporting the formation and ongoing operation of funds.
Praxisleiter:
John Adams
Weitere Kernanwälte:
Jessica Brown
Kernmandanten
Prosperity Capital Management
TT International
Attestor Limited
TRG Management LP
Maverick Capital LP
Steadfast Management LP
Red Kite Management
Orbimed Advisors LLC
Highlight-Mandate
- Advised Prosperity Capital Management on the potential restructuring and re-domiciliation of multiple hedge funds.
- Advised Attestor Limited on multiple matters relating to its flagship hedge fund, as well as its various investing entities and downstream deals.
- Advised Orbimed Advisors LLC in relation to its two UK-listed funds, Worldwide Healthcare Trust PLC, and the Biotech Growth Trust PLC.
I'm a seasoned expert in the field of legal advisory services for hedge funds, with a robust understanding of the intricacies involved in fund formation, structuring, regulatory compliance, and related matters. My expertise spans a wide range of asset classes, including fintech, cryptocurrencies, digital assets, and traditional investment vehicles. Allow me to provide a detailed breakdown of the concepts mentioned in the article you've provided:
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Kanzleien (Law Firms):
- Tier 1: These are top-tier law firms renowned for their excellence in handling complex cross-border fund matters, particularly in hedge fund formation.
- Tier 2: These firms provide expert support to both established players and newcomers in the hedge fund market, offering advice on regulatory and tax regimes along with fund structuring.
- Tier 3: These firms focus on fund formation, structuring, and compliance for hedge fund managers, often catering to smaller or startup firms investing in emerging asset classes.
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Law Firms Mentioned:
- Schulte Roth & Zabel International LLP: Known for its exceptional hedge fund formation practice, with expertise in various asset classes including fintech and digital assets. Notable lawyers include Josh Dambacher, Christopher Hilditch, Lee Smith, Amy MacDonagh, and Drew Miller.
- Simmons & Simmons: Known for bespoke structures and fee arrangements in hedge funds, specializing in emerging asset classes like fintech and digital assets. Key figures include Devarshi Saksena, Lucian Firth, Sarah Crabb, Iain Cullen, Tom Pointer, Kate Tracey, and Charlotte Thomas.
- Akin: Offers support to hedge fund managers in launching new funds and advises on regulatory and tax regimes in the UK, EU, and US. Notable personnel include Daniel Quinn, Ian Meade, Tim Pearce, Hamish Annandale, and Melissa Kinsmore-Ward.
- Dechert LLP: Provides guidance on cross-border operations, fund startups, regulatory compliance, and tax matters for hedge funds. Leading figures include Gus Black, Abigail Bell, Craig Borthwick, and Mikhaelle Schiappacasse.
- Sidley Austin LLP: Specializes in a wide variety of hedge fund strategies and structures, including credit funds and managed accounts. Key practitioner: James Oussedik.
- Arnold & Porter: Offers support in fund formation, structuring, and regulatory compliance for hedge fund managers. Led by Simon Firth.
- Haynes and Boone CDG, LLP: Focuses on advising small and startup hedge fund managers investing in emerging asset classes. Led by Ben Watford, with support from James Tinworth and Christopher Orford.
- Shearman & Sterling LLP: Specializes in fund launches, restructuring, and re-domiciliation for mid-sized hedge funds. Led by John Adams, with support from Jessica Brown.
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Key Concepts:
- Hedge Fund Formation: The process of establishing a hedge fund, including legal structuring, regulatory compliance, and drafting fund documentation.
- Regulatory Compliance: Ensuring adherence to laws and regulations governing hedge funds, including Alternative Investment Fund Managers Directive (AIFMD) and Sustainable Finance Disclosure Regulation (SFDR).
- Asset Classes: Various categories of assets in which hedge funds invest, such as traditional securities, fintech, cryptocurrencies, digital assets, energy commodities, and others.
- Cross-Border Operations: Activities involving hedge funds that span multiple jurisdictions, requiring compliance with diverse regulatory frameworks.
- Fund Structures: The legal framework governing the organization and operation of a hedge fund, including master-feeder structures, hybrid fund structures, and managed accounts.
- Seed Capital Investments: Initial investments made to support the launch or early operations of a hedge fund.
- Compliance and Regulatory Matters: Advising on and ensuring compliance with securities laws and regulations in different jurisdictions, such as US and European securities law.
- ESG (Environmental, Social, and Governance): Integration of environmental, social, and governance factors into investment decisions and processes.
By delving into these concepts, it's evident that these law firms possess comprehensive expertise in catering to the diverse needs of hedge fund managers operating in today's complex financial landscape.
