An increasingly common structure used in Private Funds (alongside other sectors) is the regulatory hosting model. However, the model has recently come under scrutiny from regulators, and decisions in the courts should also cause regulatory hosts and those using the models to be careful to ensure the structures and processes in place protect the fund […]
When continuation funds are used Typically, continuation funds are used in two situations: where a manager is unable or unwilling to realise assets at (or near) the end of a fund’s term, perhaps because those assets are problematic or distressed and there are no, or few, willing buyers prepared to pay the price being sought; […]
National law firm Freeths has advised Frontier Development Capital (FDC) on a further fundraising round for its SME-focused lending fund, FDC Debt LP. New commitments from cornerstone investors British Business Investments and West Midlands Pension Fund take the fund over the £100m mark, paving the way for further investment in regional small and medium sized […]
As part of its ongoing review of the UK funds regime, HM Treasury published on 27 April 2023 a consultation on the potential introduction, scope and design of a tax regime for a new unauthorised contractual scheme fund structure referred to as the Reserved Investor Fund (Contractual Scheme) (RIF) (the Consultation). Read the consultation here. […]
This note covers the key changes to limited partnership law under the forthcoming Economic Crime and Corporate Transparency Bill (the “Bill”). The changes are relevant to fund managers which use English limited partnerships (“ELPs”) or Scottish limited partnerships (“SLPs”) in their fund structures. Exactly when these changes will come into force is not yet clear, […]
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