Sovereign wealth and institutional investors  

A&O Shearman’s global institutional investor practice provides unparalleled guidance and counsel on investment strategies across all the major asset classes for both upstream and downstream investments.

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We work with sovereign wealth funds (SWFs), government-owned entities, central banks, pension funds, insurance companies, development finance institutions (DFIs), family offices, and high-net-worth individuals, and are advisers to the 10 largest institutional investors in the world.  

Advice across all major asset classes  

Our lawyers handle traditional and alternative investments across private debt, private equity, real estate, infrastructure, energy (including renewables), hedge funds, and managed accounts.  

We represent investors in traditional fund investments, co-investments, separate managed accounts, funds of one, single asset funds, joint venture funds, secondary transactions, and other bespoke investment structures.  

Over decades we have created a global team of dedicated funds experts in the key financial centers across the U.S., Europe, the Middle East, Africa and Asia-Pacific. Together they have unmatched experience navigating the most important market trends and tackling the broadest spectrum of legal and regulatory issues affecting institutional investors.


Representative matters

  • Global sovereign wealth funds on their venture capital, private equity and real estate investments and co-investments across a wide range of industries, including healthcare/biotech, private equity, private debt, technology, energy transition, media, infrastructure and real estate. 
  • Mubadala Investment Company PJSC and Mubadala Capital in numerous transactions, including the pending acquisition, together with members of Fortress management, of Fortress Investment Group.   
  • Temasek Holdings in its investment in NYSE-listed Virtu Financial and in connection with Virtu’s acquisition of NYSE-listed KCG Holdings. 
  • A Dutch public pension fund on its co-investment with an Asia focused infrastructure fund, in several water treatment facilities in China.


  • Canada Pension Plan Investment Board (CPPIB) in its USD6.1 billion acquisition of Pattern Energy, and as a member of a consortium of investors led by Energy Capital Partners in its acquisition of Calpine Corporation, the largest generator of electricity from natural gas and geothermal resources in the United States. 
  • CDPQ on its USD5bn acquisition and financing of interests in three of DP World’s flagship assets in the UAE.  
  • A Middle Eastern sovereign wealth fund on its partnership with TAQA and ADNOC under the Masdar brand. 

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