What does a first time GP of a new Private Equity or Venture Capital Fund need to think about?
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The Long Term Asset Fund: a new UK fund type for alternative assets
The UK Government and the FCA have given strong impetus to the creation of a new UK fund vehicle, the Long Term Asset Fund or LTAF. The LTAF seeks to solve three problems. First, ordinary investors are largely unable to access the higher investment returns connected with alternative assets, such as private equity, private debt,…
How can UK fund managers market in the EU post-Brexit?
How can UK fund managers market in the EU post-Brexit? With the Brexit transitional period over, UK alternative investment fund managers (AIFMs) looking to market alternative investment funds (AIFs) in the EU find themselves subject to a quite different regulatory environment. While sub-threshold UK AIFMs have never had access to the EU Alternative Investment Fund…
Working with a host AIFM: what you need to know (Osborne Clarke)
Launching a new fund is difficult. Launching a fund in the wake of a global pandemic – coupled with years of Brexit uncertainty – makes the task even more challenging. But one thing that can smooth that journey is working with a host alternative investment fund managers (AIFMs). Separate regulated firms that will act as…
Co-Investment structures: 7 top tips for GPs and LPs (MJ Hudson)
Guest contributor: Mark Silveira, Counsel – Law, MJ Hudson Introduction Co-investment is where an LP makes an additional, separate investment in a target company parallel to the main fund (the Sponsor Fund) in which, typically, the LP is itself an investor. Why use co-investment structures? Co-investments enable the GP to make investments which it…
An introduction to Cayman Private Equity Funds (DMS)
Guest contributor: Amber Ramsey – Executive Director, DMS The Cayman Islands are the world’s fifth largest financial center and the pre-eminent offshore jurisdiction for private equity fund formation. It has been a natural choice for institutional investors and fund managers, for several reasons: Regulatory environment – Its government and its regulator, the Cayman Islands Monetary…
Guernsey – The Connected Jurisdiction (Carey Olsen)
Guest contributor: Tom Carey – Partner, Carey Olsen. When establishing your fund, factors driving the choice of domiciliation are mostly driven by the funds’ investors, regulatory marketing limitations and costs of operating the fund. In the margins of the decision a mostly overlooked consideration is the question of the quality and reliability of the location’s…
Luxembourg: what’s driving success? (Carne)
Luxembourg: what’s driving success? The preferred European jurisdiction for private equity and private debt investment structures Guest contributor: Luc De Vet, Carne Group, European Alternative Investment Funds Leader Introduction Luxembourg holding and finance vehicles have been used for many years in structuring investments in private equity and private debt (hereafter together referred to as…