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Investment Funds


Expertise > Global Expertise > Investment Funds
Our Investment Funds practice is characterised by technical excellence, responsiveness and price transparency.

Overview

We advise on all aspects of the life of a BVI or Cayman fund including formation, restructuring and closure, both in distressed and planned scenarios. Our funds lawyers sit side-by-side with the funds team from our associated funds services business allowing us to provide integrated legal and administrative support to our funds clients. We have also established the only dedicated offshore regulatory practice providing regulated clients with essential legal support.

We pride ourselves on being able to offer bespoke services to our clients whether institutional or boutique managers. Our size, collegiate atmosphere and flexible teams allow us to work across departments and offices. We do the work in the location that is most suitable to the client, and are able to provide time zone and language-appropriate service to clients around the world.
 

Services


Harneys’ Investment Funds team is committed to providing clients with the following services:
  • Hedge fund establishment and restructuring
  • Private equity, venture capital and real estate fund establishment and restructuring
  • Offering memorandum or prospectus preparation and review
  • Preparing constitutional documentation – memorandum and articles of association of a company or the memorandum and articles of limited partnership for a limited partnership
  • Fund structuring advice including significant expertise in dealing with distressed funds
  • Manager and administrator formation
  • Manager and administrator transfers of control
  • Advice on portfolio company acquisitions and disposals
  • Advice on regulatory compliance issues including sanctions, FATCA and AIFMD
  • A dedicated Japan funds team – including provision of trustee function for unit trusts and the only native Japanese offshore lawyer who can assist clients in Japanese and English

 

 

 

Related

Distressed Funds

Harneys has been at the forefront of the development of offshore jurisprudence in the area of distressed funds and has acted on one side or another of the major hedge fund litigation matters to emerge in Cayman, BVI and Bermuda in recent years.Read More

FATCA

Our FATCA practice group provides practical and legal advice on the implications of FATCA and similar forms of automatic exchange of tax information.Read More

More Information

Our investment funds team works with onshore counsel and managers of offshore funds to help them establish and structure offshore investment vehicles to best meet their strategies and the requirements of their investors.


Hedge Fund and Private Equity Fund Formation

We have over 25 years of experience establishing offshore hedge and private equity funds. In Cayman our burgeoning funds team fields a number of highly respected experts with deep experience in Cayman funds law, while in the BVI we are the unquestioned leader in the establishment of fund structures.

We work directly with managers and with leading onshore law firms to establish BVI and Cayman Islands fund structures for the largest institutional managers through to start-up managers with seed capital. We are experienced in providing funds structured using all forms of investment vehicle, including companies, limited partnerships, unit trusts and segregated portfolio companies and are at the forefront of designing innovative structures, including to deal with mixed liquidity portfolios. We are also highly experienced in advising on the issues surrounding the use of side letters for individual investors.

Fund Restructuring

One of our core strengths is our experience in dealing with changes to a fund’s structure during the life of a fund. These may be necessitated by a planned expansion in the fund or a liquidity issue within the portfolio. Such changes are often complex and require a careful consideration of existing rights of investors and obligations of the fund, its directors and agents. Restructurings commonly involve the creation of side pockets to isolate the effect of individual asset illiquidity.

We have been involved in many of the largest and most complex restructurings and cases arising out of recent market events including advising on many issues coming out of the Madoff affair and other high profile fraud cases involving BVI and Cayman funds. We have deep expertise in the formulation of strategies that provide solid legal and commercially viable solutions for funds, managers, investors and liquidators to deal with the challenges posed by distressed or failed investment funds.

Manager and Administrator Formation

We also provide advice and assistance to those wishing to establish a fund manager or administrator in the BVI and the Cayman Islands and to established managers and administrators wishing to provide services to BVI and Cayman Islands funds. This includes advising on the licensing requirements and ongoing obligations for domiciled and non-domiciled managers and administrators and advising on their service contracts with the funds.

Manager and Administrator Transfers of Control

We are increasingly asked to advise on the sale of regulated managers and administrators alongside leading onshore law firms. We have experience in dealing with all aspects of the transfers, including the regulatory, legal and commercial issues involved in such transfers. Examples include the sale of the Key Asset Management Group to Swedish Bank SEB (advised by Norton Rose and Slaughter & May respectively) and the sale of two regulated managers to an Andorran Bank.

Regulatory Consents and Fund Investments

We advise on all aspects of investment funds business, including obtaining regulatory consents and advising on and issuing opinions in relation to transactions entered into by funds, including ISDA agreements and structured investments. A high profile example of such advice was the cashbox underwriting scheme used for a fundraising by Misys plc where we advised ValueAct Capital (a BVI domiciled hedge fund) alongside Freshfields, Allen & Overy and Ashursts.

Contacts

Jonathan Culshaw
Jonathan Culshaw

Managing Partner
Hong Kong
Marco Martins
Marco Martins

Managing Partner
Cayman Islands
Ross Munro
Ross Munro

Partner
London
Sean Scott
Sean Scott

Partner
London
Junko Shiokawa
Junko Shiokawa

Partner
Hong Kong
Oliver Bell
Oliver Bell

Partner
British Virgin Islands
Lewis Chong
Lewis Chong

Partner
Vancouver
Patrick Colegrave
Patrick Colegrave

Partner
Cayman Islands
Aki Corsoni-Husain
Aki Corsoni-Husain

Partner
Cyprus
Ian Gobin
Ian Gobin

Partner
Cayman Islands
Philip Graham
Philip Graham

Partner
British Virgin Islands
Lisa Pearce
Lisa Pearce

Partner
Singapore
Matt Taber
Matt Taber

Partner
Cayman Islands
Kristy Calvert
Kristy Calvert

Partner and Chief Representative
Shanghai
Jonathan Addo
Jonathan Addo

Counsel
British Virgin Islands
Christopher Hall
Christopher Hall

Counsel
London
Shari Hawke
Shari Hawke

Counsel
Singapore
Bronwyn King
Bronwyn King

Counsel
Hong Kong
Marc Parrott
Marc Parrott

Counsel
Hong Kong
Natalie Bell
Natalie Bell

Senior Associate
British Virgin Islands
 Jonathan  Bernstein
Jonathan Bernstein

Senior Associate
Cayman Islands
Fiona Chandler
Fiona Chandler

Senior Associate
London
Thomas Dugdale
Thomas Dugdale

Senior Associate
London
Ayana Hull
Ayana Hull

Senior Associate
British Virgin Islands
Val Lam
Val Lam

Senior Associate
Hong Kong
Mirza Manraj
Mirza Manraj

Senior Associate
Hong Kong
Jonathan McLean
Jonathan McLean

Senior Associate
Cayman Islands
Carolynn Vivian
Carolynn Vivian

Senior Associate
Cayman Islands
Janeen Al-Jadir
Janeen Al-Jadir

Associate
Cayman Islands
Shelley do Vale
Shelley do Vale

Associate
Cayman Islands
Cristine Lam
Cristine Lam

Associate
Hong Kong
Joanne Lau
Joanne Lau

Associate
Hong Kong
Rodrigo Loureiro
Rodrigo Loureiro

Associate
Sao Paulo
Elina  Mantrali
Elina Mantrali

Associate
Cyprus
James  McKnight
James McKnight

Associate
Hong Kong
Elkie Rose
Elkie Rose

Associate
Cayman Islands
Kimberly Seagojo
Kimberly Seagojo

Associate
British Virgin Islands
Catharina von Finckenhagen
Catharina von Finckenhagen

Associate
Cayman Islands
Hideki  Hashiguchi
Hideki Hashiguchi

Director & Japan Representative
Tokyo
Maria Pia Buchi
Maria Pia Buchi

Consultant
Sao Paulo
Publications

Webinars

Video: Directors' duties in the BVI 
Webinar: The BVI Incubator and Approved Funds 
The BVI’s Approved Manager regime: “Regulation light” for fund managers 

Articles & Updates

Will Brexit have an impact on offshore financial services? 
Cayman Islands: CRS notification and reporting deadlines extended 
Cayman Islands to introduce LLPs 
A comparison of Cayman and US funds 
New Cyprus-India Treaty for the Avoidance of Double Taxation 
CIMA fund annual return update 

Guides

Taking security over shares in a Cayman Islands company 
Investment Funds in the Cayman Islands 
Cayman Islands: Obtaining a Mutual Fund Administration License 
An Introduction to Automatic Exchange of Information for Cayman Islands Investment Funds 
Limited Liability Companies in the Cayman Islands 
Updated Policy on Audit Waivers for Cayman Funds 

Recent Experience

Harneys advises LeniGas Cuba on reverse takeover of Knowlton Capital Inc 
Harneys advises on the first global real estate crowdfunding platform in China 
Harneys advises on £1.1 billion sale of property management portfolio 
Harneys acts in Monarch Pointe litigation 
Cayman company gets Chapter 15 protection in the US