Private investment funds are investing more capital than ever and the funds themselves are larger than ever. The industry’s success comes against a backdrop of evolving market trends, increasing regulatory and tax compliance and the rise of ESG. In relation to structuring, fund-raising, making deals, managing exits, maintaining investor relations and dealing with the press, investors and their advisers are faced with unprecedented challenges and opportunities.

This practical new edition, edited by Tom Alabaster at Ropes & Gray, features contributions by leading industry specialists on a wide range of issues arising at all stages of a private investment fund‘s life cycle. Topics covered include formation and structuring, regulatory matters, deal-level considerations, environmental concerns, as well as jurisdictional/offshore matters, their jurisdictional differences and choice drivers (such as Ireland and Luxembourg). The guide also sets out and explores the particular issues presented in relation to listed funds, energy funds, secondary transactions and GP-led recapitalisations.

As a result, this publication provides a wide-ranging and practical guide to the legal, regulatory, tax and commercial elements of establishing and operating private investment funds. Practitioners and other industry participants are likely to gain significant benefit from applying its contents within their own environment.

Contents:
Introduction to investment funds: structures and key drivers
Tom Alabaster, Ropes & Gray
The fund-raising process
Folakemi Greene and Soloman Wifa, Willkie Farr & Gallagher (UK) LLP
Investor side letters
Gavin Anderson, Debevoise & Plimpton
Private equity co-investment
Amy Rigdon, Latham & Watkins
Transactional issues for funds
Tom Evans and Huw Thomas, Latham & Watkins
Integrating ESG into your fund
Melissa Bender, Eve Ellis and Michael Litternberg, Ropes & Gray
GP-led recapitalisations: key drivers and roadmap to a successful transaction
Alex Chauvin and Isabel Dische, Ropes & Gray
A refresher on LP secondaries transactions
Alex Chauvin and Isabel Dische, Ropes & Gray
The UK and EU ESG landscape
James Bee, Paul Davies, Anne Mainwaring and Denisa Odendaal, Latham & Watkins
When funds go bad – fund-related disputes
Jumana Rahman, Latham & Watkins
The regulation of alternative investment fund managers and advisers in the UK and EU
Lisa Cawley, James Roslington and Adam Skinner, Kirkland & Ellis International LLP
Listed investment funds
Jonathan Baird, Hogan Lovells International LLP
Investment funds in the energy sector
Matteo Matteucci, Gide Loyrette Nouel LLP
Cayman Islands
Ed Pearson and Caroline Williams, Walkers
Guernsey
Tom Clipstone, Richard Doyle and Amy Williamson, Ogier
Jersey
Matt McManus, Ogier
Ireland
John Gallagher and Jennifer Murphy, Maples Group
Luxembourg
Adrian Aldinger and Camille Bourke, Arendt & Medernach