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.
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Key contacts Alternative Investments
Highlight Deals
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
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
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
– 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
on their acquisition of a USD1bn portfolio of shipping loans from Deutsche Bank.
Equitix
on its acquisition of a portfolio of PFI/PPP and renewables assets (onshore and solar) owned by NIBC in Belgium, France, Germany, Spain and the UK.
The financing banks
in connection with the acquisition of Autobahn Tank & Rast Holding GmbH by a consortium led by the infrastructure arm of Munich-based financial group Allianz of Terra Firma Capital Partners and a fund managed by Deutsche Asset und Wealth Management.
DEME Group
on the EUR 1.6bn acquisition, construction and financing of the Merkur offshore wind farm. – Renewables Deal of the Year – PFI AWARDS 2016; European Offshore Wind Award 2016 – IJ Global 2017
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
Publications: 26 FEBRUARY 2021
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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News: 29 JANUARY 2021
Advising Capital Bay on successful launch of two new real estate funds
Allen & Overy has advised Berlin-based Capital Bay Gruppe (Capital Bay) on the successful launch of the "Commercial" and the "Residential" real estate funds for existing properties in Germany and…
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Publications: 21 DECEMBER 2020
Covid-19 Update: Act to further shorten the residual debt discharge procedure
Effects on the Commercial Lease Law
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Publications: 18 DECEMBER 2020
On 13 December 2020, the Federal Chancellor and the Prime Ministers of the Federal States again decided, in view of the current development of the Covid-19 pandemic, to impose far-reaching measures…
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