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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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Foreign Investment Controls

News and insights

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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.