Our funds management practice spans the full spectrum of funds work.
This encompasses fund formation and capital raising, fund operations and asset servicing, fund-related M&A and distressed fund work-outs and insolvencies. Over the past decade, our team has been involved in some of the most innovative and complex fund-related transactions, covering a range of asset classes and industry sectors.
How we can help
Fund formation and capital raising
We advise on all aspects of the design and formation of funds, including retail and wholesale funds and stapled groups, both listed and unlisted, across a broad range of asset classes and investment strategies. This includes advising on the optimal structure, including fees, profit sharing arrangements, employee incentive arrangements, exit strategies, management arrangements, corporate governance and regulatory compliance.
We act for both listed and unlisted funds (including retail and wholesale funds, stapled groups, property and infrastructure funds, private equity funds and hedge funds) raising capital in the equity and debt capital markets. We advise on all aspects of IPOs, capital raisings, private placements, rights issues and hybrid and structured products. We design and manage due diligence processes and prepare offer documentation, including information memoranda and product disclosure statements, and assist in the negotiation of subscription agreements and other investor documentation.
Fund operations and asset servicing
We assist fund managers to amend fund constitutions, change responsible entities, document fund financing, undertake PDS rollovers, advise on marketing and advertising restrictions, prepare for members' meetings, and deal with voting exclusions and corporate governance and regulatory issues.
We have deep experience advising both funds and their service providers. We assist on custody, investment and asset management, investment administration and outsourcing matters in a range of transactional and non-transactional contexts, including conducting due diligence and advising on investment and business acquisitions; preparing custody, administration and investment management services agreements; advising on issues in relation to the custody of assets; assisting with the establishment of 'managed investment trusts' and the preparation of service agreements in relation to the management of assets held in such trusts. Our deep understanding of the operational and regulatory aspects of our clients' funds management businesses underpins our expertise in larger scale funds transactions in this highly regulated sector.
Financial services regulation
Funds, financial services providers and issuers of financial products operate in a complex regulatory environment in Australia. We help them to chart their way, advising Australian and offshore clients on all aspects of Australian financial services regulation, including financial services licensing and licence compliance generally; ASIC regulatory requirements; breach reporting and applications for exemption; market rules and disclosure; and the application of client money and trust account provisions. For more information on our financial services regulation practice, visit our Financial Services Regulation pages.
Australia has one of the world's largest superannuation industries. We are a key advisor on all aspects of superannuation and superannuation-related law and practice, including the establishment and restructure of superannuation funds; legal compliance; successor fund transfers and replacement of trustees; litigation; liaison with regulators such as APRA, ASIC and the ATO; and tax. For more information on our superannuation practice, visit our Superannuation pages.
M&A and investments
We advise local and offshore institutional investors on all aspects of their direct and indirect investments in all asset classes. Services provided include legal and tax due diligence reviews of and negotiations with Australian and offshore private equity funds, real estate funds, infrastructure funds, hedge funds and equity and debt funds; legal and tax structuring (including consortium documents for direct investment opportunities); advising on the complex investment rules that apply under the superannuation regulatory regime; and advising on applicable licensing, disclosure and compliance requirements of the Australian financial services regime.
We also advise on the following transactions:
- the reallocation of funds through take-private transactions;
- the acquisitions of funds management businesses;
- management internalisations;
- asset sales and divestments; and
- fund mergers and restructures.