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SJ Berwin
Hedge Funds
investment fund structuring and formation; derivatives and capital markets; financial services regulation; and tax structuring.
Our clients are international, based in Switzerland, Bermuda, France, Germany, Spain and the USA, as well as the UK.
London
Our London hedge funds group is one of the market leading hedge funds practices offering a wealth of experience and expertise in all the transactional aspects of hedge funds. We advise on all the core areas of the hedge fund industry, with a particular focus on the following fields:
Hedge Funds
We are frequently involved in seed capital deals (where we act for several dedicated seed capital providers, as well as advising funds and managers on seeding arrangements) and in advising managers on the effect on their businesses of consolidation in the hedge fund industry. We also advise on distribution arrangements, with a strong focus on the regulatory environment across Europe and its effect on capital raising.
Structured Products
Our structured products group is an integral part of the hedge funds team and brings with it interdisciplinary expertise in derivatives, capital markets, banking and hedge funds. We advise on the full range of products, from bespoke equity derivatives structures to multiple issuance note programmes, as well as principal protected and capital guaranteed products. The group advises on products linked to various underlying assets (including hedge funds, funds of hedge funds, hedge funds baskets, hedge funds indices and managed account structures).
Our advisory activity covers guiding hedge fund managers on capital raising through such products, on the structuring of products to fit investor needs and sectors of the market (covering the retail market and the institutional market, such as pension funds), providing transactional support on structured product offerings and advising structured product providers directly.
Germany
The German hedge funds group has established itself as the clear market leader. Germany opened up its market to hedge fund products on a broad scale in 2004. Our group, which was already closely involved in the drafting of the new investment fund regulations, has advised on the first single, as well as the first independent, fund of hedge funds to be established under the new regime. In addition, the group has established the first investment stock corporation, a new structure similar to a Luxembourg SICAV designed specifically for independent hedge fund managers. The group is also regularly instructed by German asset management companies to support them in obtaining the necessary licences for hedge fund management.
The group serves all kinds of industry participants and has extensive experience in structuring complex and innovative alternative investment products.
Spain
The Spanish hedge funds group has substantial expertise in all the legal facets of hedge funds (including tax, corporate, regulatory, competition and labour) and is the market leader in Spain.
The group has close links with the hedge fund industry. It advises companies in connection with the marketing of hedge funds; the setting up of their management/advisory structures; on the draft Royal Decree on the regulation of hedge funds and its impact upon the hedge funds industry.
There is increasing interest in the Spanish market within the hedge funds industry. Our close involvement in the development of the hedge
Hedge Funds
funds industry in Spain means that we are in an unrivalled position to advise on all aspects of the industry.
France
In France, the regulatory framework has slowed the growth of domestic hedge funds. Recent developments, however, have signalled a change in attitude on the part of the French authorities. Such developments mean there will be a significant growth in the hedge funds industry in France. The French hedge funds group has the resources and the expertise to help clients create these new funds.
Italy
Italy was one of the first European jurisdictions to regulate hedge funds back in 1999 and, since then, Italian players have been very active in this market. The newly-established Italian hedge funds group comprises lawyers with significant experience in the field and has the resources to advise on fund structuring and formation, regulatory issues, contracts and financial instruments, as well as taxation and off-shore issues.
A Full-Service Firm
Our Corporate Department
SJ Berwins leading pan-European corporate department advises on seed and other investments in hedge funds, the listing of hedge fund-related companies, including on AIM and in Dublin, shareholders arrangements relating to the funds and the managers of funds and various joint venture arrangements.
structuring of the management function; the offshore funds regime; taxation of financial instruments; structuring performance and incentive fee arrangements and the use of tax-transparent trading entities.
The team has excellent links with both the European and national competition authorities and has lawyers based in London, Brussels, Munich, Paris and Madrid. It has also developed an extensive network across Europe of lawyers familiar with the time-critical needs of the arbitrage community.
Contact details
We look forward to developing your business with you: London Office Victoria Younghusband T +44 (0)20 7111 2545 E victoria.younghusband@sjberwin.com Ajay Pathak T +44 (0)20 7111 2270 E ajay.pathak@sjberwin.com Munich office Achim Ptz T +49 (0)89 89 0 81 0 E achim.puetz@sjberwin.com Paris office Benjamin Aller T +33 (0)1 44 346 346 E benjamin.aller@sjberwin.com Milan office Arturo Meglio T +39 (0)2 36 57 57 01 E arturo.meglio@sjberwin.com Scandinavian enquiries Carl Nisser T +44 (0)20 7111 2396 E carl.nisser@sjberwin.com
www.sjberwin.com Berlin Brussels Frankfurt London Milan Munich Paris Turin Madrid
SJ Berwin
SJ Berwin LLP is a limited liability partnership registered in England no OC313176. It is regulated by the Solicitors Regulation Authority. A list of the members of SJ Berwin LLP is open to inspection at 10 Queen Street Place London EC4R 1BE, its principal place of business and registered office. Any reference to a partner in relation to SJ Berwin LLP is to a member of SJ Berwin LLP .
SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Milan, Munich, Paris and Turin.
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