What with all the talk of financial apocalypse, more and more firms are following their clients to emerging markets.
Take Addleshaw Goddard, for example. A fund it advises recently made a string of shopping centre acquisitions in Brazil’s largest city, Sao Paulo. Deals of this kind require lawyers to include all the standard provisions covering tax, what to do if fund managers get kidnapped etc.
That’s right. “These funds have specific matters relating to their continuity if they lose key people,” said the partner who closed the deal.
The choppy financial waters of the City don’t look quite so perilous now, do they?