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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Offshore firm Ogier has advised real estate investment company Invescap Holdings on the establishment of the first-ever Jersey incorporated limited partnership (ILP).
The legislation permitting ILPs was introduced in May this year, but the Invescap (Villette) ILP was the first such partnership to actually launch.
Ogier worked on the ILP alongside City firm Stephenson Harwood. Partner Neil Murray provided advice on financing aspects, including a shariah-compliant element, which used shariah asset-backed certificates as part of a shariah-acceptable structure and funding arrangement.
Meanwhile, Ogier partner Dan Richards provided advice on the structure, corporate, regulatory and finance matters.
The deal was Ogier’s first completed piece of work for Invescap, although the firm has previously advised on uncompleted deals.
The ILP structure can be used as an investment vehicle, a joint venture for investment, or a management vehicle. It has a separate legal personality distinct from that of its partners and unlimited legal capacity to enter into contracts, while also being a body corporate.
Richards said the structure allowed for a high degree of flexibility, similar to that provided by a limited partnership, while providing investors with the security of a corporate entity.