Investment Funds
The Investment Funds Practice has worked with the managers of hedge funds and private equity funds to help them establish and structure their onshore and offshore investment vehicles to best meet their strategy and requirements of their Investors. The Practice also assists domestic mutual fund houses in India on all aspects of mutual fund governance.
The Practice advises on all aspects of the life of an Investment fund including formation, restructuring and closure both in distressed and planned scenarios. The Practice also has experience in fund litigation matters, having previously advised both fund managers as well as Investors in distressed or closure scenarios.
The Practice has unique experience and depth in advising funds on the BVI, Cayman Islands, Cyprus, Singapore and India structures and provides managers with quality advice in these jurisdictions.
Investment Fund Formation
We work both directly with investment managers and with international law firms to establish both onshore and offshore fund structures for clients ranging from large institutional managers to start-up managers with seed capital. The Practice is experienced in providing funds structured using all forms of investment vehicles, including companies, trusts, limited partnerships, unit trusts and segregated portfolio companies and are at the forefront of designing innovative structures, including to deal with mixed liquidity portfolios.
Fund Restructuring
Our core experience is in dealing with changes to a fund's structure during the lifecycle of a fund. These are usually necessitated by an expansion in the fund or a liquidity issue within the portfolio. Such changes are often complex and require a careful consideration of existing rights of investors and obligations of the fund, its directors and agents.
Manager and Administrator formation
We provide advice and assistance in establishing onshore and offshore fund manager or administrator structures. This includes advising on the licensing requirements and ongoing obligations for domiciled and non-domiciled managers and administrators and advising on their service contracts with the funds.
Distressed Funds
We have advised many high profile funds, managers and investors in distressed situations. These include:
- the use of gates, suspension of redemptions and suspension of NAV calculations;
- issues arising out of the downsizing of portfolios and, in particular, the effect on the quality and balance of the portfolio for continuing investors;
- taking advantage of a fund's constitution to formulate restructuring;
- advising on the creation of alternative legal structures to deal with adverse liquidity conditions including the implementation of side-pocket structures and other techniques for isolating distressed portfolio assets;
- planning for solvent liquidations;
- handling potential conflicts and disputes between investors, funds, investment managers, administrators, brokers, custodians and other agents;
- generally managing the risk of disputes with investors and advising on Investor rights.