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Alternative Investments

Today, alternative investments have become an integral part of institutional investor portfolios. In the current low-interest environment, there is high demand for illiquid assets such as real estate, private equity, private debt, loan portfolios, energy and infrastructure investments, ships and aircraft.

We provide comprehensive advice in this field from initial structural plans right up to exit. Our Alternative Investments Group pools all the necessary expertise and supports you in your investments on a global scale, be it foreign investments in German assets or supporting German investors in other countries.

Our scope of advice includes in particular:

  • asset expertise and market intelligence in all fields
  • advice on regulatory, tax and corporate law aspects (on the investment itself, as well as on fund structuring and documentation)
  • banking law advice on structuring the various financing products, loan documentation or syndication options relating to loan funds in the interests of lightening your balance sheet
  • due diligence
  • end-to-end transaction advice on buying and selling via share deals or asset deals
  • capital-market transactions, e.g. securitisations or investments in stock exchange-listed alternative assets
  • additional advice on specialist areas as necessary, e.g. employment law, antitrust law or IP

Our clients include infrastructure funds and private equity funds, asset managers, banks, hedge funds, insurance companies and pension funds, as well as companies and corporate groups whose activities focus on alternative assets.

Our German Alternative Investments Group comprises lawyers from all the relevant legal fields: financing, regulatory law, M&A, project financing, energy & infrastructure, tax law, capital markets law, real estate law, real estate financing and public law and is part of our global Alternative Investments Group.

Highlight Deals

REDAVIA

REDAVIA

a Munich-based solar energy company, on its innovative financing structure. The contractual structure, which has been used very rarely in the market so far, enables the company to finance, jointly with crowdfunders, venture capitalists and institutional investors, solar plants according to project-specific requirements, initially in three African states.
ENERCON’s sole shareholder AWS

ENERCON’s sole shareholder AWS

on the establishment of a Joint Venture with energy service provider EWE. This is the largest German onshore wind deal to date.
Global Tech 1

Global Tech 1

A syndicate of eight banks on the refinancing of offshore wind park Global Tech I with a volume of more than half a billion euros. The new financing was provided by Société Générale, SEB, KfW IPEX-Bank, BayernLB, Rabobank, ING, ASN and Kommunalkredit Austria.
American Tower

American Tower

a global communications infrastructure leader, on its agreed EUR7.7bn acquisition of Telxius Towers from Telefónica S.A. The deal comprises approximately 31,000 existing communications sites in Germany, Spain, Brazil, Chile, Peru and Argentina.

Cerberus

Cerberus

on the takeover of HSH Nordbank. As part of the acquisition a portfolio of the bank’s non-performing loans, including shipping and real estate portfolios, with a nominal value of several billion euros were sold to independent investors. This deal marks the first successful privatisation of a German state bank.

Viridium Group

Viridium Group

on the EUR2.5bn sale of the so-called "Millennium Portfolio" of Generali Lebensversicherung AG to Commerz Real. It has been the largest real estate transaction in Germany for the last 10 years. The Portfolio comprises 26 office, 14 residential and 9 retail properties with a total rental space of more than 352,000 square meters in premium locations of the top 7 cities in Germany: Berlin, Dusseldorf, Frankfurt am Main, Hamburg, Cologne, Munich and Stuttgart as well as Leipzig and Unterhaching.

IGIS Asset Management and Hana Financial Investment

IGIS Asset Management and Hana Financial Investment

on the acquisition and the financing of the acquisition of the Trianon skyscraper in Frankfurt from US investor North Star. (Volume: approx. 400-500m)

IONITY

IONITY

– a joint venture between Daimler, Ford, BMW and the Volkswagen Group with Audi and Porsche – on the framework agreement to install high power-chargers for electric cars at Eni service stations.

Oak Hill Advisors and Värde Partners

Oak Hill Advisors and Värde Partners

on their acquisition of a USD1bn portfolio of shipping loans from Deutsche Bank.

Commerzbank

Commerzbank

on a Japanese operating lease transaction including a call option (JOLCO) with Deutsche Lufthansa AG in respect of two Airbus A320-214 aircraft registered in Germany.

News & insights

hydrogen drop

Publications: 02 JULY 2021

Clean hydrogen in Europe: The only way forward is together

Clean hydrogen is a central piece of Europe’s Green Deal goal of reaching climate neutrality. 

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solar plant

News: 04 MAY 2021

Allen & Overy for the first time brings together crowdfunding, venture capitalists and institutional investors in one financing structure

Novel financing structure for REDAVIA GmbH Promotion of photovoltaic technology in African states

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Berlin rent cap

Publications: 15 APRIL 2021

Federal Constitutional Court overturns "Berlin rent cap"

The Federal Constitutional Court (decision of the Second Senate of 25 March 2021, Ref. 2 BvF 1/20, 2 BvL 4/20, 2 BvL 5/20) has ruled that the so-called “Berlin rent cap” is unconstitutional due to…

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real estate property

Publications: 26 FEBRUARY 2021

Higher Regional Court judgement: risk-sharing between landlord and tenant as a result of the pandemic-related closures

On 24 February 2021, the Higher Regional Court (Oberlandesgericht) of Dresden (judgment of 24 February 2021, case no. 5 U 1782/20) took a stand on risk-sharing between landlord and tenant as a result…

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