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Investors United Kingdom Investment Funds

Wilson Sonsini Goodrich & Rosati

“You Promised What?!” Warranties and Disclosure in the UK and the U.S.

Determining “certainty of asset” is a key element of any investment. When an investor takes a minority position as it does in a typical venture or growth capital investment, the approach to ascertaining certainty differs...more

A&O Shearman

UK Financial Conduct Authority Confirms Date for Opening of Overseas Funds Regime Gateway to New Schemes

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The Financial Conduct Authority has updated its webpage on the Overseas Funds Regime to confirm that it will open the gateway to new schemes on September 30, 2024. From that date, new schemes (schemes not in the Temporary...more

Goodwin

Recent Updates in the UK Venture Fundraising Landscape - August 2024

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As venture fund formation lawyers, we take a keen interest in helping our clients raise capital for their funds. If you are currently fundraising or expect to do so soon, we have pulled together a summary of some key recent...more

Latham & Watkins LLP

Private Wealth Investors Deliver a Fundraising Boost

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In a challenging fundraising environment, private wealth investors are filling the gap, aided by investment platforms, intermediaries, and evolving legal structures. In recent years, inflationary pressures, interest rate...more

A&O Shearman

Great Fund Insights: ESMA Guidelines on funds’ names: Tell me your fund name, I’ll tell you your fund strategy

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On 14 May 2024, ESMA published its final guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). As a result, the use of certain environmental, social and governance (ESG) or...more

Morgan Lewis

UK FCA Proposes Reinstating ‘Payment Bundling’ for Investment Research and Trade Execution

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Acknowledging that high-quality, easily available investment research supports deep capital markets, listed companies, and economic growth, the UK Financial Conduct Authority (FCA) recently issued a consultation paper...more

Cadwalader, Wickersham & Taft LLP

UK Spring Budget 2024

Key Tax Measures The Chancellor of the Exchequer delivered the United Kingdom (“UK”) Spring Budget for 2024 on 8 March, 2024.  The Budget was delivered against the backdrop of an anticipated general election in the summer...more

A&O Shearman

10 lessons in sustainability regulation

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Creating an effective regulatory framework will be critical to deliver Net Zero. But does that mean more – or less – regulation? From trade agreements to taxonomies, carbon adjustment mechanisms to corporate sustainability...more

Paul Hastings LLP

AIFMD Refresher: Regulatory Reporting under Article 24

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The AIFMD contains numerous ongoing obligations that apply to sponsors and funds long after fundraising has completed. As part of our AIFMD refresher series, this article summarizes one of the key AIFMD ongoing requirements...more

Skadden, Arps, Slate, Meagher & Flom LLP

European Commission Consults on Changes to the SFDR Regime

The European Commission recently launched two consultations — a public consultation and a targeted consultation (collectively, the Consultations) — seeking stakeholders’ feedback on potential changes to the Sustainable...more

Dechert LLP

New Luxembourg-UK Double Tax Treaty Will Introduce Key Changes Including Access to Treaty Benefits for CIVs / Investment Funds

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Following the Luxembourg parliament’s ratification of the new Luxembourg-UK double tax treaty (“DTT”) on 19 July 2023, the new DTT should take effect in 2024. The UK ratified the new DTT on 7 June 2022....more

Skadden, Arps, Slate, Meagher & Flom LLP

To Change or Not To Change: FCA Considers Updates to the UK Regulatory Regime for Asset Management

On 20 February 2023, the UK’s Financial Conduct Authority (FCA) released a discussion paper titled “Updating and Improving the UK Regime for Asset Management” (Discussion Paper), seeking industry feedback on potential changes...more

BCLP

FCA finalises its rulebook for the new UK authorised open-ended fund to invest in illiquid assets: the Long Term Asset Fund (LTAF)

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The FCA’s Policy Statement published on 25 October 2021 provides feedback to its May 2021 consultation (the Consultation) and sets out the final rules and guidance for the new authorised open-ended fund regime to invest in...more

Dechert LLP

UK Qualifying Asset Holding Companies: How Will the Proposals Impact Debt Funds?

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The structure is a simplified version of how a typical European fund might be established in Luxembourg where currently we would typically use a downstream Luxembourg SARL or securitisation vehicle as the intermediate...more

Dechert LLP

UK Life Sciences and Healthcare Newsletter - June 2021: Medicinal Cannabis in the UK: Fund Structuring, Investment and Listing...

Dechert LLP on

The value of the global medicinal cannabis market is projected to reach US$62.7 billion by 2024, with over US$22 billion of that market generated by Europe and an estimated excess of £2 billion likely to be generated in the...more

A&O Shearman

Opportunity and optimism: Review of the UK funds regime - a call for input by the UK government

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As part of its March 2020 Budget, the UK government announced that it would undertake a review of the UK’s funds regime. Since then, the UK government has gone on to publish a series of consultations and documents, committing...more

World Law Group

2021 Venture Capital Guide - England & Wales

World Law Group on

World Law Group member firms recently collaborated on a Global Venture Capital Guide that covers more than 30 jurisdictions on investment approval processes, typical investment sectors and investment structures on Venture...more

Katten Muchin Rosenman LLP

ILPA Releases Deal-By-Deal Model LPA

Earlier this year the Institutional Limited Partners Association (ILPA) released a Delaware-law based Model Limited Partnership Agreement (Model II LPA) for use by private equity fund sponsors wishing to implement a...more

Dechert LLP

UK Life Sciences and Healthcare Newsletter - September 2020: Life Sciences Investing Has Had A Good Bull Run - Will Covid-19 Upset...

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Sponsors of life sciences funds have, over the past 5 years, enjoyed a steady but significant run of positive fund raising. Similarly, capital deployed into life sciences companies has increased steadily over this period,...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2020

Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more

Dechert LLP

Dechert on ESG - An Overview for Asset Managers

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ESG is not a new phenomenon, but its significance for asset managers is growing. With continued media scrutiny of sustainability and environmental pressures, "millennials" forming a greater proportion of the investing...more

Latham & Watkins LLP

Fund-to-Fund Transfers on the Rise as Deal Flow Slows

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Negotiating market price, fund economics, management and other investors, documents, and approvals are key to leveraging fund-to-fund transfers. Following significant fundraising activity, sponsors have substantial capital...more

Akin Gump Strauss Hauer & Feld LLP

Upper Tribunal Overturns Decision on Tax Treatment of Management Fee Rebates

The Upper Tribunal (UT) has found that amounts paid by Hargreaves Lansdown (HL) (an investment platform service provider) to its customers, which represented rebates received from investment fund managers, were “annual...more

Latham & Watkins LLP

English High Court Confirms the Strict Duty of Full and Frank Disclosure

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English High Court confirms that without notice applicants are under an onerous duty to satisfy the requirement of full and frank disclosure. In the recent cases of Fundo Soberano de Angola & ors v. Jose Filomeno dos...more

Proskauer Rose LLP

Proskauer’s Second Annual Survey on Trends in Private Credit Markets

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We are delighted to share with you the results from our second annual Trends in Private Credit survey. This year’s survey was conducted via web from January 9th to February 9th 2018. In this report, we will share...more

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