Institutional Managers

Asset management firms have undergone significant change in the last few years and the pace of change looks set to continue for the foreseeable future. Firms have been presented with a number of challenges to which they have had to respond by modifying products, operations, distribution channels and how they manage their suppliers and their people. Simmons & Simmons have a market leading Institutional Managers team with unparalleled knowledge and expertise of the industry helping firms negotiate the impact on their businesses of regulatory change in areas such as:

UCITS V
AIFMD
FATCA
MiFID II
Conflicts of Interest
Market Abuse
RDR
EMIR
Remuneration
Outsourcing

We are very well positioned to advise on issues, challenges and opportunities that affect firms. We have specialists who advise on fund formation, regulation, derivative documentation, employment, corporate restructuring, M&A, tax, real estate and risk management.

Experience

A Major Global Asset Manager
  • advising one of the world’s largest asset management groups on a major reorganisation of its UCITS management company functions across 6 European jurisdictions.
Henderson Global Investors
  • advice on several European backed closed-ended funds investing in UK real estate with a combined value in excess of £400m.
Invesco Perpetual
  • advising Invesco Perpetual on the launch of Invesco Perpetual Diversified Returns Investment Series ICVC.
JP Morgan Cazenove
  • advising on the placement of 48.5m shares in Jupiter Fund Management on behalf of TA Associates Management (10.6% of Jupiter’s issues share capital and TA Associate’s entire shareholding in Jupiter).
Natixis Global Asset Management (NGAM), an EU UCITS Management Company
  • advising on the launch of NGAM Investment Funds UK ICVC, a UK open ended investment company with NGAM SA acting as its Luxembourg based authorised corporate director, the first UK fund to use a passported UCITS management company (ACD).
SEDCO Capital
  • advising this Saudi Arabian-based asset manager and one of the world's leading providers of Shariah-compliant investment solutions, on the launch of a one-stop-shop investment platform of Shariah-compliant funds domiciled in Luxembourg and regulated as a specialised investment fund. The platform is targeted at professional and institutional investors and comprises sub-funds managed in compliance with Shariah guidelines by a range of specialist third party investment managers, in addition to SEDCO Capital itself.

Specialist Expertise

Fund Formation

We advise asset management firms based worldwide on the establishment of investment fund vehicles in various onshore and offshore jurisdictions including the UK, Ireland, Luxembourg and the Cayman Islands. Our market-leading team advises on all types of fund structure such as private equity, real estate, infrastructure, debt, hedge funds, UCITS and other regulated fund products. 

Regulatory

We advise asset management firms on the full range of financial services regulatory matters, including advising on all aspects of compliance with applicable regulatory requirements as well as strategic regulatory issues relating to such matters as business re-organisations, AIFMD platforms and other fund marketing and distribution arrangements, often involving a cross-border element. 

Derivatives

We advise the “buy side” of the derivatives market on products including both bespoke structures and high-volume products as well as general advice on the full range of exchange-traded and over-the-counter products (e.g. ISDAs and repurchase agreements). The team advise on practical steps to be taken to implement EMIR obligations including reporting and clearing.

Corporate M&A

Focusing on mergers and acquisitions, corporate registrations and IPOs of client businesses in the asset management sector, we have significant experience of buying and selling asset management companies and businesses (including strategic stakes) and capital raising transactions. 

Tax and other issues

Asset management is at the heart of the firm’s practice and our lawyers in many specialist areas such as tax, litigation, property, employment, intellectual property, IT, data protection and insurance law regularly advise our asset management clients.