FUNDS AND INDIRECT REAL ESTATE

Transcription

1 FUNDS AND INDIRECT REAL ESTATE

2 INTRODUCTION They offer proactive client support and take a commercial and pragmatic approach. They re efficient in their execution of transactions. A well-balanced firm that looks to ensure the client experience is good. CHAMBERS UK 2015 Addleshaw Goddard s Funds and Indirect Real Estate (FIRE) group is one of the market leading practices in the UK. The team, comprising individuals with a combined 60 years of transactional experience from magic circle and tier 1 practices, prides itself on its approach and expertise applied to all matters, recognising that the global private funds and indirect real estate markets are continually evolving and increasingly challenging for its clients. The team advises fund sponsors, managers / GPs and a wide range of investors (including fund of funds, sovereign wealth and public/private pension funds) through the maze of legal, tax, jurisdictional and regulatory issues associated with establishing, operating and investing into funds as well as ensuring that all structures appropriately reflect best industry practice at the relevant time. The FIRE group advises on deals across a diverse range of sectors, with particular focus on and expertise in the real estate sector. What differentiates the team from its competitors is the innovative and commercial approach to the work and the relationships that it builds with its clients. On each transaction the team seeks to better understand the client s business, their commercial ambitions and financial goals. In doing this the team can offer: an ability to assist with deal origination and identification of joint venture partners opportunities to place secondees into appropriate client teams transparent working practices enabling us to deal with any legal/commercial issues efficiently and in an timely manner flexible charging structures, recognising deal risk where applicable To complement the real estate funds work undertaken by the FIRE group, the team also delivers a fully integrated indirect real estate solution for private/public property companies, institutional investors and global investment managers. The FIRE group advises on all aspects of corporate real estate transactions, whether it be complex development joint ventures or cross border acquisitions/disposals of real estate holding structures. training and market information relevant to the clients that it acts for. We believe we provide a legal service which truly differentiates us from our competitors. If we are not yet working together, or you want to know more about any aspect of our approach, we would be delighted to hear from you. 3

3 SUPPORT DURING THE FUNDRAISING LIFECYCLE PHASE 1 PHASE 2 PHASE 3 PHASE 4 PHASE 5 PHASE 6 PHASE 7 FUND DESIGN MARKETING THE FUND LEGAL DOCUMENTS ANCILLARY LEGAL DOCUMENTS INVESTOR NEGOTIATIONS ESTABLISHMENT AND CLOSING POST-CLOSING SUPPORT Launching a private investment fund is demanding. To help manage time, costs and resources, the FIRE group would support you throughout the entire process. No fund is the same and we do not take a one size fits all approach. Our phasing of any fundraise will be customised to your requirements and be adopted to fit the type of product being launched. Selection of optimal fund structure. Determine fund jurisdiction and regulatory regime. Tax analysis of structure at fund/investment level. Stress testing operational viability. Market insight to ensure that marketing materials are prepared in line with target investors. Developing key terms of the fund. Global regulatory input into marketing documents and roadshow support. Verification. Drafting fund vehicle documentation tailored to meet commercial, sector and investor specifics. Reflect industry guidelines, if applicable (e.g. INREV, ILPA). Benchmarking terms against similar funds. Fund management agreements. Investment management/ advisory agreements. Depository agreements. Subscription agreements. Negotiating fund documentation with investors and legal counsel. Advice on market practice and industry standards. Establishment of all fund vehicles. Full support with closing process. Preparation of side letters and MFN process. Production of fund compliance and/or operating manuals. Providing regular legal updates. Virtual data room to store fund documents. 4 5

4 WHO WE ACT FOR They have a real proactive desire to understand the business and get under its skin. CHAMBERS UK

5 INDIRECT REAL ESTATE Evolving markets, the diversity of sector participants and the need to drive returns means that indirect real estate transactions are increasingly complex to put together. The FIRE group supports its clients on corporate wrapped acquisitions and disposals, investment and development joint ventures and related or standalone management and financing arrangements. The team work quickly, efficiently and cost effectively, seamlessly operating alongside the Firm s other specialist teams to provide an integrated indirect real estate solution. Addleshaw Goddard s FIRE group has market leading experience and expertise to deliver projects to meet all sector and client demands. We are able to do this as: we understand real estate businesses and how they operate we integrate ourselves so that we serve as an extension of our client s deal teams we have extensive experience of working alongside the whole range of sector participants Fantastic in really cutting through all the detail and focusing on the point. CORPORATE TAX REAL ESTATE we have a comprehensive understanding of the deal process, from cradle to grave; we work across the structuring and financing of deals throughout the operational phase and to the ultimate exit. CHAMBERS 2015 INDIRECT REAL ESTATE We are advisers you can rely on. We understand the landscape in which our clients operate, and will provide pragmatic and solution driven legal advice. REGULATION PLANNING / CONSTRUCTION FINANCE 8 9

6 OUR TEAM Lee Sheldon - Partner +44 (0) lee.sheldon@addleshawgoddard.com Stewart Womersley - Partner Anna Heaton - Partner +44 (0) (0) stewart.womersley@addleshawgoddard.com anna.heaton@addleshawgoddard.com Jonathan Powling - Partner +44 (0) jonathan.powling@addleshawgoddard.com They are well co-ordinated as a firm; the various work strands work well together. They deliver within the timescales dictated. They take initiative on transactions and make sure that all of the bases are covered. CHAMBERS UK 2015 Michael Harris - Associate +44 (0) michael.harris@addleshawgoddard.com Helen Martin - Associate helen.martin@addleshawgoddard.com Paul Kang - Associate +44 (0) paul.kang@addleshawgoddard.com Jonny Brooks - Associate +44 (0) jonny.brooks@addleshawgoddard.com 10 11

7 aglaw.com Aberdeen, Doha, Dubai, Edinburgh, Glasgow, Hong Kong, Leeds, London, Manchester, Muscat, Singapore and Tokyo* * a formal alliance with Hashidate Law Office 2017 Addleshaw Goddard LLP. All rights reserved. Extracts may be copied with prior permission and provided their source is acknowledged. This document is for general information only. It is not legal advice and should not be acted or relied on as being so, accordingly Addleshaw Goddard disclaims any responsibility. It does not create a solicitor-client relationship between Addleshaw Goddard and any other person. Legal advice should be taken before applying any information in this document to any facts and circumstances. Addleshaw Goddard is an international legal practice carried on by Addleshaw Goddard LLP (a limited liability partnership registered in England & Wales and authorised and regulated by the Solicitors Regulation Authority and the Law Society of Scotland) and its affiliated undertakings. Addleshaw Goddard operates in the Dubai International Financial Centre through Addleshaw Goddard (Middle East) LLP (registered with and regulated by the DFSA), in the Qatar Financial Centre through Addleshaw Goddard (GCC) LLP (licensed by the QFCA), in Oman through Addleshaw Goddard (Middle East) LLP in association with Nasser Al Habsi & Saif Al Mamari Law Firm (licensed by the Oman Ministry of Justice) and in Hong Kong, Addleshaw Goddard (Hong Kong) LLP, a Hong Kong limited liability partnership pursuant to the Legal Practitioners Ordinance and regulated by the Law Society of Hong Kong. In Tokyo, legal services are offered through Addleshaw Goddard s formal alliance with Hashidate Law Office. A list of members/principals for each firm will be provided upon request. The term partner refers to any individual who is a member of any Addleshaw Goddard entity or association or an employee or consultant with equivalent standing and qualifications. If you prefer not to receive promotional material from us, please us at unsubscribe@addleshawgoddard.com. For further information please consult our website or