Funds

News

Proskauer City partner joins flood of global exits to Kirkland

Kirkland & Ellis has taken on a funds partner from Proskauer Rose’s London office, a day after securing a 20-strong team hire from its rival’s Los Angeles operations. Andrew Shore, who is making the move to the Gherkin, has been a partner in Proskauer’s fund team since 2017 when he was promoted. News of the […]

O’Melveny loses City funds duo to Akin Gump

Akin Gump Strauss Hauer & Feld is hiring two funds partners from O’Melveny & Myers ahead of the latter firm’s proposed tie-up with Allen & Overy. The Lawyer can reveal that Aleksander Bakic and Daniel Quinn are joining Akin Gump as its first dedicated UK-qualified private equity funds partners in the City. Akin Gump currently […]

Thiha Tun

Akin funds partner resurfaces at Dechert

Funds partner Thiha Tun has left Akin Gump Strauss Hauer & Feld for Dechert’s City office, the latest in a number of lateral hires for the firm. Tun is a former Bingham McCutchen partner, and was previously at Herbert Smith Freehills where he made partner in 2005. When Bingham was on the cusp of its […]

Kathryn Cecil

Fried Frank invests in fund finance with Linklaters hire

Fried Frank Harris Shriver & Jacobson has hired its latest new joiner in London, bringing on board its first dedicated fund finance lawyer in the City from Linklaters. The US firm has hired managing associate Kathryn Cecil, who will join as a partner. Her arrival on Monday coincides with that of Milbank Tweed Hadley & […]

Fieldfisher

Fieldfisher debuts stand-alone funds firm to skirt panel conflicts

Fieldfisher has debuted a new firm that will focus exclusively on the hedge fund market and work with businesses in the alternative investment management area. Located at 1 Mayfair Place, a hedge fund hub, specialist firm Cummings Fisher has been launched to deal with derivatives and investment funds and will be helmed by Claire Cummings, […]

Analysis

Featured Briefings

Challenging an IVA on the grounds of material irregularity

By Simon Clark, Gawain Moore In Gertner v CFL Finance Ltd [2018] the Court of Appeal found that there had been a material irregularity at the creditors’ meeting convened to consider the debtor’s IVA proposals. The lender’s breach of the good faith principle between creditors was sufficient to revoke the IVA on grounds of material irregularity.

India: a farewell to book value-driven shares valuation

Currently, Income Tax Act, 1961 (IT Act) provides for imputing income in the hands of the transferor/transferee if the transaction of transfer/receipt of unquoted shares is not at fair market value (FMV). As far as the recipient is concerned, when a person receives, inter alia, unquoted shares of a company for a consideration which is […]

India: PCE for bonds rationalised

On 18 May the Reserve Bank of India issued a circular on ‘Partial Credit Enhancement to Corporate Bonds’ which rationalises the existing “Guidelines on Partial Credit Enhancement to Corporate Bonds by Banks”… …The introduction of two ratings by the Circular will provide comparable rating statistics for the bonds, thereby offering more comfort to the banks. […]

Foundations – recent offshore developments

This article first appeared in the JEP Wealth Management Review. By Josephine Howe It has been possible to establish a Jersey Foundation since the introduction of the Foundations (Jersey) Law in 2009. Since that time there have been approximately 300 Jersey Foundations incorporated. Following the introduction of foundations into Jersey law, many other offshore and […]

India – start-ups can issue convertible notes

On 10 January 2017, the Reserve Bank of India (RBI) notified the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifteenth Amendment) Regulations 2016 (Amendment), amending the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations 2000 (Regulations)… … The Amendment opens up […]

Investment funds expertise is Guernsey selling point

Guernsey expertise is being increasingly called on for investment funds that are not even based in the island – which Ogier Group Partner Craig Cordle says is an endorsement of the skill and ability of Island lawyers and administrators. The latest statistics from the Guernsey Financial Services Commission (GFSC) show the fifth consecutive quarter of […]

Enforcing foreign judgments in Switzerland – a Q&A

Dieter A Hofmann and Oliver M Kunz Treaties Is your country party to any bilateral or multilateral treaties for the reciprocal recognition and enforcement of foreign judgments? What is the country’s approach to entering into these treaties and what if any amendments or reservations has your country made to such treaties? Switzerland is party to […]

Switzerland: venture capital investment Q&A

By Luc Defferrard, Maurus Winzap and Florian Gunz Niedermann 1. What are the main characteristics of the venture capital market in your jurisdiction? Venture capital and private equity The term “private equity” is used broadly and there still is a tendency to combine “private equity” and “venture capital”. However, the level of sophistication has increased […]

The shareholders are revolting

In scenes that took us back to the ‘shareholder spring’ of 2012, April 2016 saw several instances where shareholders revolted against perceived boardroom excess by voting against proposed remuneration packages for executives. ‘Last chance saloon’ In particular on 14 April 2016 almost 60% of BP’s shareholders voted against a £14m pound pay package for its CEO. Since then […]

India: FDI liberalisation in the ARC sector

Close at the heels of the announcement made in the Union Budget in February 2016, the Government released Press Note 4 of 2016 dated 6 May 2016 (Press Note 4) liberalising foreign entry norms in asset reconstruction companies registered with the Reserve Bank of India (RBI) (ARCs) by allowing 100% foreign direct investment (FDI) under the automatic route in […]

Rebates: a hidden danger for invoice discounters

Debtors do not have to inform invoice financiers of agreed rebates according to a recent case in the Court of Appeal which upheld an earlier High Court decision. Funders will be expected to make their own enquiries; should they fail to do so, it is at their own peril. The case involved a claim by the financier (Bibby […]

LMA publishes template broker letter

The LMA has recently announced the publication of its own form of insurance broker letter for use on real estate finance investment transactions. Broker letters are used to provide comfort to lenders that the obligors are complying with their insurance obligations under the loan agreement, and that the lender (or agent, on syndicated transactions) will be made aware of any issues that arise with […]

Register now to The Lawyer to access our latest news stories, read selected briefings from key firms and gain essential careers insight to help you make the most of your current and future roles.

Contact Us: if you have any questions regarding your subscription, call us on +44 (0)20 7292 3716 or email us at customerservices@thelawyer.com

Register now

Having problems?

Contact us on +44 (0)20 7292 3716 | email: customerservices@thelawyer.com

If you are looking for our Jobs site, please click here