

Fund formation and asset management
Fund managers and institutional investors face increasing challenges. These include:
- Market volatility and global economic uncertainty
- Rising inflation and interest rate fluctuation and their effects on costs
- Greater regulatory and reporting obligations
- The adoption of technology and using data in the race to remain competitive
Allen & Overy have a dedicated global fund formation and asset management group dedicated to finding innovative solutions to such complex problems. We lead the market, with a full-service offering that our fund manager and institutional investor clients find invaluable. We provide market-leading expertise combined with commercial sensibility, and as a result build long-standing relationships with our clients.
We have asset management, tax and regulatory professionals in the major financial centres. Our global coverage, local knowledge and responsiveness means we offer expertise in the key fund and asset management regions, with teams in the U.S., the UK, and Luxembourg. We have expanded our teams in the Middle East, Asia and Australia. We have strong relationships with law firms in the key offshore jurisdictions for the industry.
We support and advise clients on areas including:
- Fund establishment across all the main asset classes, working with our sector experts, and covering both retail and alternative investment fund structures.
- Drafting, negotiating and managing fund investments, IMAs, custody and prime brokerage agreements.
- Putting in place regulatory compliance programmes for asset managers operating globally.
- Managing corporate and financing transactions involving asset managers, underlying assets and fund transfers, and dealing with distressed investments and restructuring.
- Working with lenders, borrowers and sponsors at all levels of Private Credit capital structures.
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Great Fund Insights

Great Fund Insights is a global resource providing practical insights into legal and regulatory developments affecting fund managers and institutional investors across Europe, Asia, Africa, the Middle East and the U.S. These insights are regularly updated by our global funds and asset management group to highlight the key trends in the alternative investment industry.
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News and insights

Publications: 05 October 2023
Continuation funds provide valuable source of liquidity in uncertain markets
With assets hard to price, managers of closed-ended funds face a difficult choice when they reach their investment horizon. Here we explore the dynamics of one potential solution – continuation…

Publications: 05 October 2023
Creative exit strategies drive higher returns for sponsors
With dual-tracks largely off the menu for the time being, we explore the risks and opportunities inherent in alternative exit strategies, including synthetic IPOs and sales with ‘stapled’ debt.

Publications: 06 July 2023
Middle Eastern sovereign wealth funds reshape global M&A terms
Flush with cash and increasingly sophisticated, Middle Eastern SWFs are investing across a broader range of assets and markets than ever before. But a landmark EU regulation presents challenges for…

Publications: 06 July 2023
Public-to-private deals present a target for arbitrage funds
Investment bankers report more take-private deals as macro conditions supress equity prices. This is set to spark activity among arbitrage funds – particularly in markets with favourable regulatory…
Recognition
Allen & Overy Luxembourg handles fund structuring and establishment matters, in addition to ongoing regulatory and compliance work, for the full range of fund types, particularly within the alternative space.
Legal 500, Investment Funds (Luxembourg)
In one highlight, a group reviewed over 50 investment management agreements for various pension funds and sovereign wealth funds for investments totalling over £30bn.
Legal 500, Investment Fund Formation and Management
Clients describe the team as "very strong, with a deep bench of lawyers; they are very responsive and proactive.
Chambers & Partners, Investment Funds
Demonstrates a particularly strong real estate and regulatory practice. Additional strength in infrastructure and debt funds.
Chambers & Partners, Investment Funds
Solid player in the Netherlands investment funds market.
Chambers & Partners, Investment Funds (The Netherlands)
Allen & Overy has an excellent team. They are very responsive and solution-oriented.
Chambers & Partners, Investment Funds
The 'highly technical and approachable' team at Allen & Overy Luxembourg excels in the structuring and ongoing operation of Luxembourg regulated and unregulated funds for institutional and noninstitutional investors.
Legal 500, Investment Funds (Luxembourg)
Regularly advises high-end regional and international clients on a range of investment products. Recognised by a number of sources for its impressive sovereign wealth fund expertise. Has extensive capabilities in open and closed-ended funds, Shari'a-compliant structures and private equity investments.
Chambers & Partners, Investment Funds (Middle East)
Sizeable investment funds practice endorsed for its capabilities regarding high-value real estate funds. Has considerable experience advising on multi-jurisdictional mandates. Dedicated practitioners are located in many key offices across the globe.
Chambers & Partners, Investment Funds
Large investment funds team with dedicated practitioners situated in many key offices around the world. Acknowledged for its capabilities regarding high-value real estate funds, with experience assisting on numerous cross-border matters.
Chambers & Partners, Investment Funds