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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In the United Kingdon, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for eight years. These partners are highlighted below and throughout the editorial.
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United Kingdom > Scotland > Finance > Investment funds > Law firm and leading lawyer rankings



Index of tables

  1. Investment funds
  2. Leading individuals
  3. Next generation lawyers

Leading individuals

  1. 1
    • Douglas Armstrong - Dickson Minto WS

Next generation lawyers

  1. 1

Who Represents Who

Find out which law firms are representing which Investment funds clients in Scotland using The Legal 500's new comprehensive database of law firm/client relationships. Instantly search over 925,000 relationships, including over 83,000 Fortune 500, 46,000 FTSE350 and 13,000 DAX 30 relationships globally. Access is free for in-house lawyers, and by subscription for law firms. For more information, contact


CMS's market-leading practice has built up an impressive roster of clients, which consists of names such as Aberdeen Standard Investments, Lloyds Banking Group and Baillie Gifford.  Its team covers every stage of the funds lifecycle across a wide range of structures, including unit trusts and OEICs, listed funds and private funds, among many others. Karagh Gilliatt and Aidan Campbell have been advising a number of authorised fund managers, including T Bailey Fund Services and Liontrust Fund Partners, on regulatory issues arising from the implementation of MiFID II and have been liaising with the FCA on the establishment of research payment accounts for authorised funds. In addition, Gilliatt and others acted for Baillie Gifford in the establishment of a new fund, Baillie Gifford Long Term Global Growth Investment Fund, and also a subsequent scheme of arrangement. Gilliatt co-heads the practice with Colin Lawrie, who has expertise in private equity funds and Scottish limited partnerships. Wendy Colquhoun and real asset funds expert Tara Walsh (who focuses on the UK and cross-border real estate and infrastructure sectors) are other recommended individuals.

Dickson Minto WS is widely recognised as a market-leader in the investment funds arena, and it has a strong following from funds managed by Scottish and London-based fund managers, such as Aberforth, Artemis, BlackRock and Schroders. It has a particular sweet spot acting for listed investment trusts; it advises 85 of these clients. Douglas Armstrong and Bruce Minto lead the team, which is becoming increasingly active in funds mandates across a wide variety of alternative asset classes, including healthcare, student accommodation, debt and infrastructure, with a recent particular focus on REITs. OEICs and private funds have been other areas of growth. Recent highlights included advising Henderson High Income Trust Plc and Threadneedle UK Select Limited on their merger, and acting for Hg Capital Trust Plc in its £80m limited partnership investment in the Hg Mercury Two Fund. Andrew Todd, Colin MacNeill and Duncan Christison are other active practitioners.

In addition to forming and launching funds, Brodies LLP provides day to day operational and regulatory advice (among other matters) to its UK and international fund manager clients. Senior solicitor Barbara Jamieson, who joined from Martin Currie Investment Management in January 2018, has experience of regulatory projects involving AIFMD, UCITS V and MiFID II, among others. Andrew Akintewe leads the team, which also has a significant investor-side practice, where the work includes assisting clients with negotiating the terms of fund investments and portfolio management. The group's areas of expertise span multiple fund structures, including private equity buyout funds, real estate funds, debt funds and listed funds. Paul McLaughlin is knowledgeable about the uses of LLPs, general partnerships and Scottish limited partnerships. As a full-service firm, its funds team is well-supported by practitioners in areas such as tax and corporate, enabling it to cover all manner of issues. Karen Fountain is leading a cross-practice team, which is acting for midmarket private equity fund manager Promethean Investments LLP in the circa £150m capital raising of its third limited partnership fund, as well as the structure and operations of the management group. In 2017, Fountain and others advised The Scott Trust and Guardian Media Group Plc (GMG) on GMG's launch of a £42m venture capital fund, GMG Ventures. Another recent highlight for the team involved assisting Blackstone with establishing a joint venture with a UK residential property investment company.

Burness Paull LLP's 'strong and experienced team' is 'very knowledgeable and thorough in its advice' to international fund managers, investors and banks on private funds and partnership issues. In addition to generating its own work, the firm's first-rate reputation in the funds market sees it attract mandates from City and international law firms. Practice head Alan Soppitt is experienced in fund structuring, fund finance work and asset-backed funding for pension schemes. Soppitt is also particularly knowledgeable about the use of Scottish limited partnerships in private fund vehicles and other structures. Paula Kennedy is at the forefront of the advice to investors in LP-side matters, which is an area of growth for the firm. Soppitt acted for Scottish Enterprise in the launch of the £100m Scottish European Growth Co-investment Programme with the European Investment Fund. Andrew Christie, who made partner in 2017, was the firm's lead adviser to Ardian Private Equity on the Scottish law structuring and financing aspects of its acquisition of a $2.5bn secondary portfolio of assets owned and managed by Mubadala Capital (which included limited partnership interests in predominantly North American buyout and growth funds and direct investments).

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