Investment funds in Cayman Islands

Maples Group

With the largest practice in the Cayman Islands, Maples Group maintains an accordingly strong market share, advising a myriad of world-leading private equity funds and single-manager hedge funds on a considerable volume of new fund registrations, downstream-spend deals, and capital market transactions. The group is headed up by newly-appointed global head Michael Richardson, a trusted adviser to numerous investment managers and financial institutions on big-ticket establishments and restructurings. Global managing partner Jonathan Green specialises in trust structures and hedge fund formations, while global private equity chair Iain McMurdo focuses on all manner of fund matters and resulting downstream transactions, an area in which Sheryl Dean is also a key port of call for some of the firm’s largest clients. Gwyneth Rees is a seasoned practitioner who serves as the global relationship client for some of the biggest asset managers in the market, advising on a steady stream of high-value fund launches. Christina Gordon, who was promoted to partner in December 2021, is recommended for the breadth of her expertise spanning registered mutual funds, hedge funds and private equity funds. Other key names to note include Jeremy Bomford, Tim Coak, Lee Davis and Stephen Watler. Jon Fowler and Philip Millward have retired.

Practice head(s):

Michael Richardson


‘Great people across various jurisdictions.’

‘Gwyneth Rees is a true, trusted partner for us.’

‘Their breadth of practice and knowledge are unmatched. There just isn’t anything that we have ever proposed to do in Cayman that Maples hasn’t done before.’

‘Gwyneth Rees is very responsive, client oriented, extremely knowledgeable, and very diligent. She is wonderful to work with!’

‘Andrew Keast is very professional, responsive, and always pleasant to work with.’

‘They have a high level of expertise in advising on the set up offshore fund structures. Additionally, they are able to provide a service to assist investment managers operating Cayman fund vehicles with meeting local regulatory requirements.’

‘I think the depth of team and deep experience is a major factor that sets Maples apart from others in the field.’

Key clients

Bain Capital

The Blackstone Group


Man Group



Advent International

Neuberger Berman

CVC Capital Partners

TPG Capital

Work highlights

  • Advised Blackstone on Blackstone Growth (BXG) Funds, the largest first-time growth equity vehicle in history.
  • Advised Clayton Dubilier & Rice on its successful bid to acquire Morrisons.
  • Advised Ares Management on its recent IPO.


Walkers‘ sizeable investment funds practice is routinely engaged by a stellar roster of blue-chip asset managers, which turn to the team for its eminent capabilities in big-ticket financings, listings, SPAC launches, and other fund formations. Global managing partner Ingrid Pierce is particularly noted for her niche expertise in advising funds on managing distress in volatile markets. Cayman managing partner Tim Buckley‘s recent highlights include multi-billion-dollar business combinations and SPAC IPOs, while Caroline Williams‘ diverse work encompasses private equity fund formation and portfolio investment deals. Rolf Lindsay is noted for his expertise in alternative investment funds and all associated transactions, while Melissa Lim is experienced in a diverse range of investment fund structures, including technology and venture capital funds, cryptocurrency funds, and unit trusts. Other key figures in the practice include cross-border M&A specialist Jason Allison, capital markets-focused Andrew Barker, PE fund specialist Theo Lefkos, and private funds expert Bicrom Das. Senior counsels Christine Ballantyne-Drewe and Matt Bernardo are also recommended. Caroline Heal has left the practice, while Ed Pearson has relocated to the firm’s London office.

Practice head(s):

Ingrid Pierce; Tim Buckley; Rolf Lindsay; Caroline Williams; Melissa Lim

Key clients


Athletic Greens International Inc.

BroadPeak Global

EPIC Private Equity LLP

Vector Capital

ProKidney LP


Reckitt Benckiser Group plc

Goldman Sachs Asset Management

MoonLake Immunotherapeutics AG

COVA Acquisition Corp.

Apollo Global Management, Inc

Queen’s Gambit Growth Capital

Work highlights

  • Acted for Goldman Sachs Asset Management (GSAM) on the $5bn listing on the London Stock Exchange of Petershill Partners plc and its portfolio, a PE asset manager operated by GSAM.
  • Acted as Cayman Islands counsel to COVA Acquisition Corp., a special purpose acquisition company listed on NASDAQ, on its definitive agreement to merge with mobility technology company ECARX Holdings.
  • Acted as Cayman Islands counsel to Apollo Strategic Growth Capital on its $5.3bn business combination with American Express Global Business Travel.


A significant number of market-leading fund managers turn to Ogier for its expertise in a range of transactional and regulatory matters, including new formations, mergers, and AML compliance reviews. Practice chair James Bergstrom has decades of experience in the space, with recent highlights including a run of high-value private equity fund establishments. Nick Rogers is also noted for his expertise in private equity matters, where he coordinates the team’s efforts on a host of fund formations. Giorgio Subiotto spearheads the firm’s Latin American practice, while Bradley Kruger heads up the digital, blockchain and fintech desk. Joanne Huckle‘s regulatory expertise makes her a key port of call for clients seeking assistance with AML regime compliance, particularly in the private equity realm. Justin Savage specialises in corporate governance, whereas Emma Sutherland is best known for her experience in hedge and private equity structuring. Counsel Barry McEwan is noted for his Middle Eastern focus, and senior associate Gemma Cowan joined the team from Mourant in 2022. Dave Sherwin has left the practice.


‘Brad Kruger is intelligent, practical, responsive, and easy to work with.’

‘Giorgio Subiotto has been a valued partner for many years. He is always ready to attend our specific needs and find creative solutions. He is a loyal adviser and is more than happy to really jump onboard to solve our problems.’

‘Very skilled attorneys with innovative solutions and approach.’

‘The Ogier team led by Nick Rogers is truly first rate. Excellent communication, knowledge, and value.’

‘Each individual is a true expert in their field offering a very powerful, professional and detailed service.’

‘Joanne Huckle is attentive and stays on top of firm related matters, we are grateful to have her on the account.’

Key clients

Banco BTG Pactual S.A.

Maven 11 Capital B.V.

Van Eck Associates Corporation

Longitude (Cayman) Ltd.

Redwood Capital Management, LLC

Work highlights

  • Advising Banco BTG Pactual S.A on a range of transactions.
  • Advising Van Eck Associates on a range of fintech and crypto matters.
  • Advising Longitude on a range of investment fund transactions.


Roundly praised by clients for its ‘top-notch practical advice‘, Campbells is particularly well-versed in venture capital fund formations, ranging from technology and emerging economy-focused entities to fintech and crypto-asset funds. Practice chair Alan Craig advises various funds on a host of corporate and financing transactions, while Simon Thomas‘ expertise lies in the establishment of private equity funds and related investment vehicles. Richard Spencer, who heads up the firm’s fintech and blockchain practice, variously advises on the launch of crypto hedge funds and other tokenised investment fund products. Senior associate Jennifer Reilly is praised by clients for her ‘smart, responsive, and creative‘ approach to fund formation and restructuring matters, and fellow senior associate Aoife Tuohy is also recommended.

Practice head(s):

Alan Craig


‘The investment funds team is easy to work with, quite responsive and provides practical business solutions for clients.’

‘Simon Thomas has consistently provided quality practical advice to our mutual Cayman clients. He has been a go-to Cayman funds attorney for us for several years now.’

‘Top-notch practical advice.’

‘Super responsive, good coordination, and very collaborative.’

‘Jennifer Reilly is smart, responsive, attentive and creative.’

Key clients

Shunwei Capital


Ribbit Capital

Bullfrog Capital

Kaszek Ventures

Aleph Ventures

Magnetic Capital

Sierra Climate Fund

Avalanche Ecosystem

Long Run Capital

Cross Coin

Tiger Global Management

Work highlights

  • Acting as Cayman Islands legal counsel in respect of the establishment of the $11bn fund, Tiger Global Private Investment Partners XV, L.P.
  • Represented Ribbit Capital in connection with the formation of fintech-focused Ribbit Capital VII, L.P. which secured $1.15bn in commitments.
  • Worked with Ava Labs on the launch of Blizzard, a $200m fund focused on development and innovation on the Avalanche ecosystem.

Carey Olsen

Lauded for its ‘top-notch responsiveness and market knowledge‘, Carey Olsen is regularly engaged by some of the market’s leading institutional investors and asset managers for assistance with high-value fund formations. The practice is jointly led by office managing partner Nick Bullmore, noted for his expertise in fund financing, and Jarrod Farley, roundly praised for his ‘extremely knowledgeable and very commercial‘ approach to both regulated and unregulated investment funds. Counsel Dylan Wiltermuth is a seasoned corporate adviser with ample experience in private equity and listed fund work. Senior associate Shane Westin and ‘responsive and detail-oriented‘ associate Emily Cornhill are also recommended.

Practice head(s):

Nick Bullmore; Jarrod Farley

Other key lawyers:

Dylan Wiltermuth; Shane Westin; Emily Cornhill


‘The team are incredibly responsive and very calm under pressure.’

‘Jarrod Farley is extremely knowledgeable and very commercial.’

‘Jarrod Farley and Shane Westin have been providing us with great legal advice for many years, they’ve always been extremely professional, efficient and helpful.’

‘Top-notch responsiveness and market knowledge.’

‘Pleasant to work with, very knowledgeable of their areas of practice and efficient.’

‘Emily Cornhill is very responsive and detail-oriented.’


Working closely with the firm’s finance and regulatory teams, Mourant‘s cross-disciplinary investment practice handles a steady stream of high-value formations and secondary transactions. Newly appointed funds head Catherine Pham is praised by clients for her capabilities in downstream transactions and fund structuring across a range of asset classes. Hayden Isbister, who regularly partners with onshore firms on matters involving private equity and hedge funds, is a key contact for US clients. Global investment fund co-chair Alex Last is well-versed in fund finance matters, while Neal Lomax‘s recent engagements include a number of multi-billion-dollar establishments and restructurings. Counsels Chris Nixon and Rhiannon Williams are also recommended. Gemma Cowan has left the practice.

Practice head(s):

Catherine Pham

Other key lawyers:

Neal LomaxRhiannon Williams; Alex Last; Hayden Isbister


‘Draw on deep experience to deliver advice cogently and quickly.’

‘Catherine Pham is a well-kept secret – a lawyer’s lawyer and commercial to boot. A class act.’

‘Strong subject-matter expertise and very honest and pragmatic in their approach to solving matters.’

Key clients

First Republic Investment Management, Inc.

Sun Life Capital Management

Capital Dynamics

Work highlights

  • Acted as Cayman counsel to form a venture capital fund-of-funds vehicle for First Republic Investment Management.
  • Advised Sun Life Capital Management on the creation of its Cayman partnership, SLC Management Multi-Asset Credit Fund LP.
  • Advised Capital Dynamics in connection with the launch of its Generation 2022 Fund.


Drawing on its cross-disciplinary ties with the firm’s technology group, Appleby regularly works on the establishment and structuring of a variety of funds in the digital assets space, particularly in the Asian markets. Practice head Sailaja Alla is highly experienced in the structuring, formation and operation of all manner of fund platforms. Christian Victory‘s capabilities in mutual funds and private hedge funds encompasses FATCA compliance, shareholder rights, and bespoke share classes, while Sheila Crosby, who joined the team from Maples Group in October 2021, is recommended for her knowledge of corporate governance and regulatory compliance matters.

Practice head(s):

Sailaja Alla

Other key lawyers:

Christian Victory; Sheila Crosby


Steered by corporate head Matthew Stocker and office managing partner Kevin ButlerConyers‘ interdisciplinary funds practice works closely with the firm’s litigation and restructuring teams on a host of high-value contentious and non-contentious matters. Nicholas Pattman‘s broad cross-border capabilities are mostly keenly concentrated on the Latin American jurisdictions, and Brazil in particular. Anna-Lise Wisdom, who joined the team from Appleby in February 2022, specialises in fund finance, and associate Matthew Harkness works with a mix of start-ups, family offices and established fund managers on the full scope of corporate and finance matters. Craig Fulton has left the practice.

Practice head(s):

Matthew Stocker; Kevin Butler

Other key lawyers:

Nicholas Pattman; Matthew Harkness; Anna-Lise Wisdom

Key clients

Harbour Energy

ICONIQ Capital

Lazard Asset Management

EIG Global Energy Partners

IFM Global Infrastructure Fund

IVY II Limited


Harneys acts for a wide array of investment managers on fund formations, restructurings and advisory matters. The team is headed up by Christopher Hall, a knowledgeable adviser whose recent engagements include multi-millio-dollar fund launches. Matthew Taber routinely leads on the formation of a variety of master and feeder fund structures, while Daniella Skotnicki works with a number of the firm’s biggest clients on high-value launches and fintech related matters. James Smith, who was promoted to partner in 2022, is particularly focused on Latin American mandates.

Practice head(s):

Christopher Hall

Other key lawyers:

James Smith; Matthew Taber; Daniella Skotnicki

Key clients

SkyBridge Capital

Ledger Prime, LLC

Work highlights

  • Acted as Cayman legal counsel with regard to the formation of a Cayman master and feeder fund structure for SkyBridge Capital to invest in a variety of cryptocurrencies and other digital assets, and blockchain technology generally.
  • Acted as Cayman legal counsel with regard to the formation of a Cayman master and feeder fund structure for LedgerPrime, LLC to invest in a variety of cryptocurrencies and other digital assets, and blockchain technology generally, with the master fund feeding into a Delaware fund.

Stuarts Walker Hersant Humphries

Praised by clients as a ‘very responsive team with wide knowledge‘, Stuarts Walker Hersant Humphries regularly handles a diverse array of new fund registrations and formations, including master feeder arrangements, distressed funds and Islamic funds. ‘SuperstarChris Humphries is well regarded for his expertise in crypto fund matters, while Jonathan McLean, who heads up the banking and regulatory department, is noted for his knowledge of virtual asset regimes. Corporate chair Megan Wright and senior associate Simon Orriss are also recommended.

Practice head(s):

Chris Humphries

Other key lawyers:

Jonathan McLean; Megan Wright; Sam Orriss


‘Very responsive team with wide knowledge on funds-related issues, including crypto funds.’

‘Chris Humphries is a superstar. One of the premier crypto fund attorneys, having worked in the space for many years.’

Key clients

GD International Ltd

Lbank Group SPC

ChainLink Capital Management, LLC

Mariner Investment Group

Lanal LLC

Disruptive Tech Strategies

The Serenity Fund

Newmarket Capital

Xtellus Pre-IPO Fund (2021) Cayman, LP

Orchard Way Capital Partners, LP

Work highlights

  • Advised on the establishment of a registered private fund in the Cayman Islands as a segregated portfolio for a venture capital fund backed by Lbank, a crypto asset trading platform.
  • Advised on the establishment of the $200m ChainLink Luna Fund under the Private Funds Act.
  • Acted for Mariner Investment Group LLC, advising on the set-up, administration and operations of various Cayman funds.

Bedell Cristin

Bedell Cristin‘s cross-disciplinary financial services practice acts for a varied roster of institutional investors on high-value fund formations, often with unique considerations, such as Shariah-compliant financing. Joss Morris is an experienced adviser who regularly advises on the launch of pension funds, sovereign wealth funds, and family office structures, among others. Stephen Nelson is a key port of call for private equity and digital asset fund managers seeking assistance with CIMA registration and licensing issues. Associate Kimberly Wood, who joined the team from Maples Group in November 2021, is also recommended.

Practice head(s):

Joss Morris

Other key lawyers:

Stephen Nelson; Laura Smalley; Kimberly Wood

Collas Crill

Collas Crill‘s interdisciplinary corporate, finance and funds team handles an accordingly broad array of fund sector matters, ranging from new formations to restructurings and regulatory reviews. Practice head Alan De Saram is noted for his expertise in investor-side advice, working with a mix of high-profile sovereign wealth funds and major institutional players on a litany of corporate and commercial matters. Various financial institutions turn to Natalie Bell for her capabilities in licensing and regulatory obligations, including anti-money laundering compliance and sanctions regimes. Associate Laura Oseland possesses key experience in corporate governance matters.

Practice head(s):

Alan De Saram

Other key lawyers:

Natalie Bell; Laura Oseland

Key clients

Mission Capital Management Services LP

IP Investment Management

Chanos & Company L.P

Harvest Private Wealth Thematic Fund SPC

HDH Master Fund

ARIA Fund Services (ARIA)

Apeira Capital Fund I GP, LLC

Work highlights

  • Acting as Cayman Counsel to Axiom Asia’s investment management business, Mission Capital Management Services L.P., on the establishment and launch of three new closed-end funds.
  • Advising Hong Kong and Singapore-based IP Investment Management on a restructure of its existing SPC fund structure, and moving the Cayman Segregated Portfolios.
  • Acting for Chanos & Company L.P to advise on consolidation of its group structure and operation of its Cayman funds.

Dillon Eustace

Drawing on its close ties with the firm’s Dublin office, Dillon Eustace is well placed to advise an international roster of hedge funds on the full scope of investment fund work, including regulatory and compliance concerns. Matt Mulry and Jonathan Law collectively possess decades of experience in the market, working with a host of asset managers and private investment funds on high-value structuring and financing matters.

Practice head(s):

Matt Mulry

Other key lawyers:

Jonathan Law

Key clients

StepStone Group

UBS Fund Services (Ireland) Limited

Crossroads Capital Management Limited


Deutsche Bank, Wealth Management Divisions across Cayman, NY and London

Loeb Smith Attorneys

Loeb Smith Attorneys‘ Cayman funds practice is underpinned by key ties with a wider global network of offices. Steered by the ‘outstandingGary Smith, the team is particularly adept at fund formations and launches involving Hong Kong, PRC, and US entities. Senior associate Elizabeth Kenny is noted for her wide-ranging capabilities across various asset classes.

Practice head(s):

Gary Smith

Other key lawyers:

Elizabeth Kenny


‘A top Cayman and BVI firm in the private fund area. They are client focused and have an outstanding amount of industry knowledge.’

‘Gary Smith is an outstanding attorney and runs a great organisation.’

‘Loeb Smith Attorneys is a firm of great calibre, delivering exceptional value as it provides top advice at a more reasonable cost.’