Investment funds in Ireland

A&L Goodbody

A&L Goodbody's 'impressive' team has had an active year advising on Brexit contingency planning, particularly the authorisation of Irish-regulated management companies and investment firms, and on the implementation of new money market funds regulations. In addition to seeing an increase of work in the ETF space, the team has advised on the establishment of a growing number of private equity and venture capital funds in Ireland. Practice head Brian McDermott's recent work includes acting on the establishment of Icavs and super-mancos, while Michael Barr has advised on the AIFMD and UCITS regulations. The team was strengthened at senior level by the arrival of the 'responsive and clued-in' Kerill O’Shaughnessy from Walkers and the promotion of Laura Butler, who has particular expertise in the structuring of real estate and private equity funds.

Practice head(s):

Brian McDermott

Testimonials

The team has a solid level of experience at partner level and they are willing to provide commercial guidance to assist the decision-making process.

Kerill O’ Shaughnessy has exceptional attention to detail and consistently goes beyond the brief to provide guidance.

Strong partners who are knowledgeable about their sectors and always available to assist.

Michael Barr and Laura Butler are strong communicators who are up to date in their sectors and always available to assist on short notice.

I like their proactive approach where engagement is based on knowledge and not on fees.

Stephen Carson and associate Nicola McCaffrey are proactive and have become valued partners as we have grown as a firm.

Kerill O’Shaughnessy always shows an exceptional level of commitment in executing transactions and a reassuring amount of client engagement from start to completion of project. A safe pair of hands in what can be quite a time-sensitive and regulatory burdensome environment.

Kerill O’Shaughnessy is responsive and well versed in the areas in which we seek counsel.

Kerill O’Shaughnessy is responsive, clued in and provides targeted solutions based on our business needs. He is also very approachable and a pleasure to deal with.

The team is well resourced and experienced.

Very client-centric, delivery-focused and pleasant to engage with.

They bring a clarity of thought and a practical approach to their advice, which  is very client friendly and easily understood by both lawyers and non-lawyers.

They are aware of the environment in which we operate and pay attention to all the detail. They understand us and our business, are very aware of our needs and work with us in achieving the best result possible.

Very straightforward to deal with. They have a no-fuss approach and are technically excellent.

Impressive full-service team offering expertise in all matters involving asset management in general. Versatile practice, accessible and easy to work with.

Kerill O’Shaughnessy is a great practitioner at the top of his game with deep knowledge of the sector. A great lawyer to deal with, able to make the complex and legalistic simple and understandable.

Key clients

HanETF

Carysfort Capital

WisdomTree Europe

Aviva Investors Liquidity Funds plc

Optimus Capital

M&G Investments

Zurich Invest

Gard AS

HSBC Global Asset Management

Marlborough Group

DWS

Work highlights

  • Advised Carysfort Capital and a large US private equity firm on the establishment of a QIAIF ICAV with two sub-funds.
  • Advised Aviva Investors Liquidity Funds plc on the approval of three of its sub-funds under the Money Market Fund Regulation, and on the operation of its large complex of Irish money market funds.
  • Advised Optimus Capital on the set-up of an Irish UCITS ICAV with three sub-funds.

Arthur Cox

The 'exceptional' team at Arthur Cox has been particularly active advising UK-based investment managers on the migration of their UCITS management companies to Ireland, as well as assisting with the establishment of Irish-domiciled funds. Other areas of expertise include advising on the conversion of EU money market funds to comply with new requirements. The team has also added a number of leading global asset managers to its strong client base. Kevin Murphy, who is experienced in the establishment, structuring and offering of investment funds, leads the practice jointly with Tara O’Reilly, who has notable expertise in exchange-traded funds (ETFs). The seven-partner team also includes Cormac Commins; Ian Dillon, who specialises in alternative investments; the 'excellent' Dara Harrington; and the 'highly regarded' Sarah Cunniff. Newly promoted partner Siobhán McBean has experience in domestic and cross-border fund mergers.

Practice head(s):

Kevin Murphy; Tara O’Reilly

Other key lawyers:

Siobhan McBean

Testimonials

Arthur Cox’s investment funds group represents a broad range of the Irish funds industry, which has translated to a unique ability to provide perspective on trends and best practices. They understand the business concerns of their clients and their legal advice is actionable and efficient.

Dara Harrington is always reachable and his advice is thorough and actionable. He is among the best lawyers that I work with.

The team’s responsiveness and industry knowledge are top-notch. They provide practical legal guidance, not just black letter law.

Sarah Cunniff makes us feel like we are her only client. She is always available and has invested in the relationship.

The team at Arthur Cox has been exceptional since our first meeting. After 12 years, we still have nothing but great things to say. All of the lawyers on the team are more than willing to work the extra hours to keep up with our business plans.

The team from partners to associates are highly qualified lawyers with expertise in their field but they also have a healthy level of practical business sense which is often difficult to get with prestigious law firms.

We hold Sarah Cunniff in the highest regard. She is exceptional and always willing to go the extra mile for us.

Associates Sarah O’Sullivan and Rachel O’Malley are notable members of the team.

Very knowledgable, strong cross-team interaction, prompt service.

Dara Harrington provides excellent service, and he has vast knowledge and a dedicated, pleasant manner in dealing with clients.

Arthur Cox and, in particular, Dara Harrington give us exactly what we’re looking for. Great counsel and very responsive.

Dara Harrington has great insight, solves problems well and provides practical and commercial advice. He knows what’s going on in the industry and keeps me well informed.

Associate Andrew O’Connor is one of the hardest working lawyers I’ve ever met. On top of that, he’s one of the nicest people you could ever deal with.

Arthur Cox has the deepest bench of senior expertise in the market and I find their associate team excellent also.

Ian Dillon is exceptional. His industry knowledge, coming from a place of extensive experience both in practice and industry, and in multiple jurisdictions, is excellent and I always find I get the solution in need, not just an analysis that leaves me working out the direction for myself.

Key clients

Allianz Global Investors

Amundi

Antarctica Asset Management

Arrowstreet

Bank of Montreal (BMO)

Blackstone

CBRE

Channel Capital

CIFC

Cohen & Steers

Colchester Global Investors

Delaware Investments

Dimensional Fund Advisors

Dodge & Cox

Egerton

Federated Investors

First Trust Advisors

Global Thematic Partners

Goldman Sachs

Gramercy Asset Management

Grantham Mayo Van Otterloo & Co. LLC

Gulf International Bank

Industrial and Commerce Bank of China Limited (ICBC)

Intertrust

Janus Henderson

KKR

Legg Mason

Los Angeles Capital

Macquarie

Maitland

M&G

Nuveen

Oak Hill Advisors

Oasis Asset Management

Overstone

Platinum Asset Management

Poste Vita

Shenkman Capital

State Street Global Advisors (SSgA)

Stone Harbor Investment Partners

Waverton

Western Asset

Work highlights

  • Advised Legal and General on the conversion of its money market funds in Ireland.
  • Advised KKR on the establishment of an alternative investment fund platform for a UK feeder fund.
  • Advising Legg Mason on adding seven new sub-funds to its flagship European UCITS fund.

Dillon Eustace

'Very knowledgeable in the Irish investment fund space', Dillon Eustace is noted for its strong client base of Irish domiciled funds and unique asset managers. The team has been highly active advising on ETFs and assisting credit, real estate and private equity managers with the establishment of Irish funds and Icavs. It has also expanded its client base of leading international investment managers to include a number of Indian asset management firms. Donnacha O’Connor leads the team, which also includes the 'highly regarded' Andrew Bates; Brian Higgins, who advises on the establishment and operation of UCITS management firms and AIFMs; the 'outstanding' Brian Kelliher; and Etain de Valera, who specialises in alternative investment. The team's strong junior ranks include the 'exceptional' Cillian Bredin and senior associate Grace O’Connor, who has experience in the structuring, establishment and regulation of mutual funds.

Practice head(s):

Donnacha O’Connor

Other key lawyers:

Cillian Bredin; Grace O’Connor; Andrew Bates

Testimonials

Commercially savvy, very experienced in dealing with the Irish Central Bank, deep understanding of the financial services industry.

Brian Dillon is the best in the business in Ireland.

Cillian Bredin is an exceptional partner.

I use many firms all over the world and Dillon Eustace is up there with the very best.

The team is very knowledgeable about the asset management industry. This enables them to advise us in a very practical manner.

Brian Higgins brings his vast knowledge and experience to the table in a practical manner – he understands that clients want to get matters concluded rather than engage in drawn-out discussions.

Dillon Eustace are seen as a market leader and we have found their knowledge and insight to be of huge benefit. They have a very strong team with knowledge spread across all the different levels within the organisation and areas of specialism which we dip into as required.

Andrew Bates is highly regarded. He is an industry expert and is usually our first port of call on any issues in this area.

Grace O’Connor and solicitor David Higgins are strong.

Unrivalled experience upon which to draw. Pragmatic, proactive team who deliver on time.

Brian Higgins is a respected figure in the Irish funds industry. He is well connected with the Irish Central Bank and with key industry influencers and always on top of all major issues in the investment industry.

Very knowledgeable in the Irish investment fund space including dealing with the regulatory authorities. They make themselves available as required by clients.

Cillian Bredin has a practical approach to matters where he can guide clients on legal and regulatory requirements while understanding the business impediments – he can accordingly suggest solutions.

Senior associate Sarah Cassidy and solicitor Carl Fitzpatrick are both very responsive and thorough.

Dillon Eustace are one of the leading financial services legal advisers in Ireland with a strong focus on funds. They are very approachable, responsive and knowledgeable.

They have a deep understanding of our needs and our business.

The team is very knowledgeable, has commercial acumen and provides timely advice. The depth of their industry knowledge is superb.

Brian Kelliher has been simply outstanding – he has worked to very tight deadlines, is very effective and co-operative, has deep insights into funds law and regulations, and gives practical suggestions.

Solicitor Kate Watchorn is very knowledgeable and responsive, and has a team spirit.

Dillion Eustace are very smart, commercial and responsive in their dealings.  They have a very good grasp of the applicable regulations as well as the local marketplace and its practices.

Cillian Bredin and Donnacha O’Connor are recommended.

Key clients

Aon Hewitt

AXA Investment Managers

ANIMA

BNY Mellon Asset Management

Algebris (UK) Limited

Legal & General Investment Management

Old Mutual

Mediolanum

Odey Asset Management

PIMCO

Swiss Capital Alternative Investments

Societe Generale

Lone Star

C-Quadrat

Polar Capital

GAM

Golden Tree Asset Management

Fiera Capital

Marshall Wace

Fidelity

DMS Investment Management Services (Europe) Limited

Tenax Capital Limited

Gamma Capital Management Ltd (UK and Iceland)

BlackRock Capital Investment Advisors (US)

Credit Suisse

Danske Bank AG

Kayne Anderson

Pinnacle Capital Partners

Roundhill Capital

Roundshield Capital Partners

Twelve Capital AG

Trium Capital

VanEck

BNP Paribas

Portfolio Advisors

Berkshire Partners

Payden & Rygel

Ambienta SGR

Avendus

Motilal Oswal Capital

DSP Investment Managers

Work highlights

  • Advised Heitman International on the establishment of an Irish fund to invest in the Irish real estate market.
  • Advised Motilal Oswal Capital on the establishment of a qualifying investor alternative investment fund (QIAIF) in Indian equities.
  • Advised Round Hill Capital on the establishment of an Irish collective asset-management vehicle (ICAV) with its joint venture partner, QuadReal Property Group, to fund the purchase of apartments in Dublin.

Maples Group

Maples Group's 'responsive, knowledgeable' team covers the full range of investment funds work, from the establishment, structuring and distribution of Irish investment funds to regulatory advice on MiFID and other key legislation, as well as a strong Brexit offering. The practice is particularly active in advising on the formation of Icavs and on authorisations for UCITS and AIF management companies. Team head Peter Stapleton counts leading international investors, promoters, fund managers and investment banks among his clients. Other key contacts include Stephen Carty, who has expertise in UCITS alternative investment funds and ETFs; Eimear O’Dwyer, who has experience in managed account platform structures and credit funds; Ian Conlon, who specialises in the Icav space; and the 'technically skilled' John Gallagher. The team's partnership ranks were bolstered by the promotions of Philip Keegan and Aaron Mulcahy in January 2019.

Practice head(s):

Peter Stapleton

Other key lawyers:

Eimear O’Dwyer

Testimonials

The team is proactive, responsive and provides advice in the context of the wider environment and regime. It does not shy away from disagreeing, which is refreshing and ultimately helpful.

John Gallagher and associate Jennifer Murphy are personable, straightforward and no-nonsense, with the addition of humour in times of need.

John Gallagher’s wider experience is invaluable and at times remarkable.

‘A responsive, knowledgeable team with a broad clientele.

John Gallagher is responsive, technically skilled and takes a commercial approach.

Key clients

7IM

Bain Capital

Marshall Wace

Blackstone Alternative Asset Management

Marine Capital Ltd

CVC Capital Partners

The Blackstone Group

Kohlberg Kravis Roberts & Co (KKR)

Life Funds EMEA AB

Deutsche Bank

Insight Investment

Lansdowne Partners

Tudor Capital

Nippon Value Investors

Sanderson International Value Fund

Nomura Investment Solutions plc

Innocap Investment Management Inc

UBS Asset Management (UK) Limited

City Financial Investment Company Limited

Principal Global Investors

Agilis Investment Management LLP

Willowbridge Associates Inc

Avestus Capital Partners

TPG Global

Citigroup

Credit Suisse

Morgan Stanley

Goldman Sachs

Brookfield Asset Management

Marine Capital Ltd

Life Funds EMEA

Tudor Capital

Agilis Investment Management LLP

Willowbridge Associates Inc

Brookfield Asset Management

Guggenheim Partners

IPM

Cardinal Capital Group

Domain Capital ICAV

Selwood Asset Management LLP

Portolan Capital Management

Invest AD

Sanlam Investment Management Holdings

Work highlights

  • Advised Marshall Wace Asset Management on the restructuring of its Irish operations to address the impact of Brexit, including the establishment of a new Irish regulated UCITS/ AIFM super-manco to assume management of its large Irish UCITS and AIF ranges.
  • Advised Guggenheim Partners Fund Management (Europe) on the establishment of a super-manco.
  • Advised Principal Global Investors on the establishment of MiFID investment firm in Ireland.

Matheson

Matheson's 'excellent' team counts numerous Irish-domiciled funds among its clients, as well as major global promoters and asset managers, and boutique and start-up fund managers. The practice advises on all aspects of Irish UCITS and AIF structures, and has recently seen an increase in work assisting with the establishment and authorisation of new management companies in Ireland. Tara Doyle, who is noted for her 'fantastic ability to think practically', heads the practice; Dualta Counihan has 'a wealth of experience in the sector'; Shay Lydon has been active advising clients on their Brexit contingency plans;  Philip Lovegrove has expertise in the ETF space; and Michelle Ridge has experience advising on the establishment of loan origination structures. Among the firm's junior partners, Donal O’Byrne stands out for his ‘money market fund specialisation’, while Barry O’Connor’s experience includes advising on the authorisation of Europe’s first AIFM. ‘Rising star’ senior associate Catriona Cole is also recommended.

Practice head(s):

Tara Doyle

Other key lawyers:

Dualta Counihan

Testimonials

The two-engagement partner structure means we can rely on obtaining senior-level advice on urgent issues arising on a timely basis, as well as facilitated access to Matheson’s advisers in a wide range of related practice areas, as necessary.

Barry O’Connor provides practical, solutions-focused advice and is very responsive. His thorough and up-to-date understanding of current Irish law and regulations and industry practice is impressive and reassuring to clients. Barry excelled in assisting us with the complex implementation of the EU Money Market Fund Regulation earlier this year.

There is good communication between different practice areas.

The level of knowledge amongst staff below partner level is very good.

Shay Lydon stands out for his knowledge of AIF structuring, facilitating interaction with the Central Bank of Ireland, and responsiveness to emails and calls.

Associate Eunan Hession is incredibly diligent and responsive.

Shay Lydon is passionate and involved in both the detail and the bigger picture, with both a commercial and regulatory understanding of the matters.

Donal O’Byrne stands out for his money market fund specialisation.

The extent of the partnership mentality of this team is unique. They actively partner with us on our goals holistically and they manifestly partner with all relevant component teams within Matheson to deliver us a comprehensive services. The breadth of their experience and depth of their bench is also special.

Dualta Counihan is technical par excellence. If you need to get right into the weeds on complex issues and come out quickly with a pragmatic and robust solution, Dualta Counihan is the right person to talk to.

Associate Catriona Cole is a rising star. Her active file management and the pragmatic application of her varied experience and competence yield effective results.

Matheson has been a key partner to us. They provide a holistic offering of professional services and we value them for their pragmatic solutions and on-point legal advice.’

Tara Doyle stands out for her key industry leadership and influencing style.

Michelle Ridge is key partner for funds and knowledge of our business.

Excellent team, they work well seamlessly and are always responsive.

Dualta Counihan is very knowledgable and a safe pair of hands, having a wealth of experience in the sector.

Strong teamwork, co-ordinated approach and responsive. In-depth market knowledge.

Shay Lydon is very knowledgeable and responsive. Strong client relationship management.

Donal O’Byrne never stops until he gets the right answer.’

Tara Doyle has the deepest knowledge I have ever come across and a fantastic ability to think practically.

Deep bench of high-quality partners covering all aspects of the Irish investment funds space, backed up with broader team resources.

Advice is excellent and accurate legally but also practical and commercial.

Oisin McClenaghan provides consistently solid practical legal advice and is available at short notice.

Key clients

Rockefeller & Co LLC

Goldman Sachs

JPMorgan

BlackRock

White Oak

Funding Circle

Hermes Investment Management

Aberdeen Standard Investments

Krane Funds Advisors, LLC

Man Group plc

Invesco

Pacific Capital Partners Limited

State Street Global Advisors Limited

Morgan Stanley

Neuberger Berman Europe Limited

Beechbrook Capital

Work highlights

  • Advised Rockefeller on obtaining authorisation of its first European fund range and approval of Rockefeller & Co, LLC to act as investment manager to Irish-regulated funds.
  • Advised Goldman Sachs on establishing and obtaining authorisation of its first European-based ETF fund range with seven initial sub-funds.
  • Advised Barings on the Central Bank’s regulatory approval for its UCITS to gain exposure to China A-shares.

William Fry

William Fry is 'an acknowledged leader in advising ETFs', assisting with the establishment of European ETF platforms and handling major acquisitions in that space. The team's strong client base includes leading global promoters of Irish-domiciled funds and fund service providers. As well as the establishment and regulation of UCITS and alternative funds, the practice has experience advising on the authorisation of UCITS management companies and AIFMs. The highly experienced Dan Morrissey leads the practice, while other key contacts include James Phelan, who is recommended for his 'exceptional understanding of the regulatory landscape' surrounding various types of investment funds; Vincent Coyne, who has particular expertise in alternative funds;  Patricia Taylor and John Aherne, who specialise in regulatory matters; and the 'knowledgeable' Sergey Dolomanov, who is noted for his strength in the ETF space.

Practice head(s):

Dan Morrissey

Testimonials

William Fry have one of the pre-eminent funds legal practices in Dublin and are an acknowledged leader in advising ETFs. One of the unique benefits of working with William Fry is the depth of ETF-specific knowledge and awareness down through all adviser levels.

The team is invariably responsive and friendly to work with. The partners have a comprehensive understanding of the regulatory regime within which we carry out business and can be relied upon to represent our best interests with the regulator.

We can be confident that James will push the boat out for us when called on to do so. He has an excellent understanding of the regulatory environment in which our business operates.

One of the advantages of working with William Fry as our external counsel is that they ensure we are provided with two-partner support.

Sergey Dolomanov is very knowledgeable and has particular expertise in ETFs. He understands our business and provides clear, well-informed and practical advice. His deep technical knowledge is complemented well by his clear communication style.

Associates Clodagh Ruigrok and Emma Hendrick both provide invaluable support. Clodagh is professional, has strong technical expertise and is always responsive and friendly. Emma is a much-valued member of the team.

Their historical understanding of the development of our product and business in Ireland cannot be matched elsewhere. They are always exceptionally responsive and friendly to deal with and, most importantly, always get the job done properly and on time. They are very successful at making me feel that they are just an extension of my own in-house team.

James Phelan is a vital resource. He can provide a commercial perspective, combined with a deep understanding of the rules.

I would not hesitate in highly recommending them.

James Phelan is an invaluable source of support. He is always willing to go the extra mile for us and his advice is always sensible and on point. He has an exceptional understanding of the regulatory landscape and an ability to convey legal knowledge in a genuinely useful way. James is a personable, friendly guy, as are all of his team. He is highly thought of across the board.

Lorena Dunne demonstrates attention to detail and deep knowledge of the history of our funds in Ireland. She is very personable to deal with and her analytical and technical abilities are invaluable, coupled, as they are, with a strong commercial focus. She is a longstanding and dedicated adviser to our Irish fund range.

Associates Hannah Cooney and Emma Perry never let us down and are at all times extremely personable to deal with and responsive.

Lorena Dunne and Paul Murray offer a very thorough and comprehensive cover of fund matters. They offer a great level of support and their experience with the use and operation of the Icav structure has been invaluable.

I have been impressed by William Fry’s expertise in the legal aspects of particular fund structures, such as UCITS. Their key strengths are knowledge and responsiveness.

Frys is a firm that continues to set the benchmark for funds advice in the industry.

Key clients

Architas Multi-Managers

ASR Levensverzekering N.V.

AXA

Bank of America Merrill Lynch

Barclays Bank Plc

BlackRock

BNY Mellon

Carmignac

Carne

City of London

Comgest

Davy

Harrington Cooper

Lazard Asset Management

Legal and General

Natixis Investment Managers

NTMA

Poste Vita

Sands Capital

SQN Capital Management

Temporis Capital

Work highlights

  • Advised BlackRock/iShares on the establishment of a number of innovative products.
  • Advised Legal & General on structuring and obtaining regulatory approval for a range of ETFs.
  • Advised BNY Mellon on the transition of its suite of money market fund to new fund types, as required by new EU regulations.

McCann FitzGerald

The 'highly knowledgeable' team at McCann FitzGerald has extensive experience advising on the authorisation of UCITS management companies, AIFMs, super-mancos and MiFID firms. The launching of investment funds is the practice's key focus, and it has been particularly active assisting with the establishment of private equity, real estate and environmental, social and governance (ESG) funds. The team also advises on Irish-domiciled ETFs, managed account platforms and closed-end funds. Practice head Mark White acts for major domestic and international fund managers and investors; Iain Ferguson's recent work includes advising the Irish state on a number of cornerstone investments; Darragh Murphy specialises in regulatory matters; and consultant Tony Spratt 'enjoys an excellent reputation', particularly in alternative funds. Consultant Anna Moran has experience advising on a wide range of funds, including real estate and money market funds.

Practice head(s):

Mark White

Other key lawyers:

Anna Moran

Testimonials

McCann FitzGerald is highly knowledgeable in the area of Irish Stock Exchange listings of investment funds as well as Irish incorporated UCITS. In the addition to its technical competence, the firm also has good connectivity to the Stock Exchange authority and the Central Bank of Ireland. Last but not least, the firm delivers timely, good quality advice.

Tony Spratt enjoys an excellent reputation in the area of investment funds. His reputation is well deserved given his vast experience and knowledge, his grasp and understanding of the fast-changing regulatory environment, and his ability to provide pragmatic and practical advice. He is always available and delivers his advice and work in a timely and competent manner. He is a joy to work with.

Key clients

ValueAct Capital

Nordea Asset Management

Metzler Bank

Urbeo Residential

Brookfield Asset Management

Aon Hewitt

Ardstone Capital Homes Limited

UBS Global Asset Management

Irish Life Investment Managers

Hewlett Packard

Insight Investment

Goodbody Stockbrokers

Equity Trustees Fund Services

Mitsubishi UFJ Trust and Banking Corporation

Fund Partners

AMP Capital

JO Hambro Capital Management

AMX/Willis Towers Watson

Findlay Park Partners

UBS Wealth Management – Zurich

Brandes

Pzena Investment Management, LLC

HFR Asset Management

Impax Asset Management

Davy

Irish State

UBS Investment Bank

Fairfax (Hamblin Watsa)

M&G Investment Management

Coupland Cardiff Asset Management

Dragon Capital Management

Investcorp Credit Management

ABC arbitrage Asset Management

Marathon Asset Management

Work highlights

  • Advised Brookfield Asset Management on the establishment of a new Icav which has been authorised as a QIAIF.
  • Acted for Urbeo Residential Fund Icav and Urbeo Residential Limited in relation to a joint venture arrangement with Starwood Capital and the Ireland Strategic Infrastructure Fund (ISIF) relating to the establishment of a build-to-rent residential property platform.
  • Advised HFR Asset Management on the establishment of a new sub-fund of its umbrella QIAIF unit trust.

Walkers

Walkers' 'strong' team counts leading global asset management firms and private equity and credit managers among its clients, advising on the establishment and maintenance of various types of Irish investment funds, including UCITS, QIAIFs and RIAIFs. The practice has also been active assisting asset managers with Brexit planning and regulatory issues. The practice is led by Nicholas Blake-Knox, who joined the firm in 2018 from Pimco and is recommended for his 'excellent understanding of Irish fund legislation and his in-house experience'. Sarah Maguire provides 'sage advice' on the establishment, authorisation and operation of a range of funds; Jennifer Fox has notable strength in the establishment of UCITS management companies and AIFMs, and in fund redomiciliations and mergers; and the newly promoted Eimear Keane has expertise in AIFMD and UCITS regulatory  requirements.

Practice head(s):

Nicholas Blake-Knox

Other key lawyers:

Sarah Maguire

Testimonials

The global reach of the firm is very attractive and the team in Dublin is very commercially-focused and forward-thinking in terms of developments in Irish law.

A client always wants to feel understood and, given Nicholas Blake-Knox’s experience, that is a given when dealing with him.

A strong investment funds team with significant industry experience.

Nicholas Blake-Knox is a pragmatic lawyer who gets to the core of legal and regulatory issues very quickly, offering a solution-orientated perspective for clients. He avoids creating legal and regulatory fear, thereby garnering trust with clients. His in-house experience shines through in his dealings with clients – he has been on the other side and therefore is capable of looking at the world through his clients’ lens.

The level of commercial awareness at this firm is very strong.

Sarah Maguire has excellent legal knowledge coupled with a practical approach to interpreting the law from a business perspective.

Responsive, commercially focused advice

Sarah Maguire has excellent knowledge of all fund regulations and guidance and has the ability to apply this knowledge in a very practical, commercially focused way. She is very responsive and ensures that projects are kept on track.

Expertise in Irish UCITS funds and investment and investment management law.

Sarah Maguire has expertise in investment law practice, specifically UCITS, QIAIFs and investment regulations. She provided very valuable counsel on the  establishment of new funds and we depended on her sage advice.

The team is highly professional and, most importantly, responsive.

Excellent cross-section of professionals. They have combined experience in a number of sectors that they are able to leverage to assist their clients.

Nicholas Blake-Knox has an excellent understanding of Irish fund legislation and his in-house experience gives him an edge.

Nick Blake-Knox does a great job of listening to what we really need and providing commercial feedback for it.

Young and efficient team.

Professional and kind.

Cross-industry knowledge.

Sarah Maguire is excellent – she provides quick response times and concise and commercial advice.’

Key clients

PIMCO

Morgan Stanley

Edmond de Rothschild

Skyline Umbrella Fund ICAV

Albemarle Asset Management Limited / Optima Asset Management LLC

Westwood Investment Funds plc

Clear Capital Management LLP

Ardevora Asset Management LLP

Kepler Partners, LLP

Kagiso Global Asset Management ICAV

W&W Asset Management (Dublin) DAC

Carne Global Fund Managers (Ireland) Limited (Primo UCITS Platform & RV Capital)

Lemanik Asset Management S.A., Dublin Branch

Cantor Fitzgerald Corporate Finance Ireland Ltd

DCI LLC

IBM Retirement Funds

Work highlights

  • Providing ongoing advice to Pimco on the operations of its range of UCITS funds and AIFs.
  • Providing ongoing advice to Edmond de Rothschild group on its Irish retail investor AIF ETF platform.
  • Advised Albemarle Asset Management on the establishment of ten sub-funds on two UCITS platforms.

Dechert LLP

Dechert LLP recently expanded its team of 'outstanding lawyers' with the hires of highly regarded new practice head Carol Widger and Ciara O’Leary, who has particular expertise in the ETF space, from Maples Group. The practice has notable experience advising global asset managers on Brexit planning and the establishment of management companies in Dublin, and has also been highly active advising on fund formation and restructuring, with particular strength in private funds. Other key contacts in the team include Declan O’Sullivan, who has extensive experience in UCITS and alternative investment funds; Jeff Mackey, whose practice covers credit, equity, money market and real estate funds; and national partner Mark Dillon, who has been particularly active in the management company space.

Practice head(s):

Carol Widger

Testimonials

A great firm of outstanding lawyers, with an extremely keen market knowledge and an outstanding roster of resources. They are business-oriented and have very good legal knowledge in the area of asset management.

Mark Dillon and Chris Christian (Boston) are outstanding lawyers. We can honestly call them our trusted advisers and guides in all matters relating to our Irish asset management practice.

Key clients

Apollo Global Management

Cheyne Capital

GQG Partners LLC

John Hancock Worldwide Investors Plc

Manulife Asset Management Series ICAV

Work highlights

  • Advised Manulife and John Hancock on the establishment of their new UCITS management company.

Mason Hayes & Curran LLP

The structuring and formation of UCITS funds is an area of focus for Mason Hayes & Curran LLP, but the team has also been highly active advising on M&A transactions in the investment funds area, particularly deals involving Irish management companies. The team also advises on alternative investments, including private equity, venture capital and real estate funds, and on the authorisation of UCITS management companies and AIFMs. Clients include leading asset managers, promoters and investors. The practice is jointly led by Conor Durkin, whose expertise includes the formation of UCITS and real estate funds, and Rowena Fitzgerald, who has significant experience advising investment managers on regulatory matters. Senior associate Sarah Cloonan advises on a variety of Irish-regulated funds.

Practice head(s):

Conor Durkin; Rowena Fitzgerald

Key clients

Fineco Asset Management dac

FAM Evolution ICAV

Conseq Invest plc

VentureWave Capital Limited

Appian Asset Management Limited

Hauck & Aufhäuser Privatbankiers AG

Leanort Unlimited Company

TREA Capital Partners S.V. S.A.

Tetrarch Capital Limited

Vermeer Investment Management Limited

Work highlights

  • Advised Fineco Asset Management on the establishment of a FAM series UCITS Icav.
  • Advised Heptagon Capital on the creation of a soft-close mechanism in respect of certain of the sub-funds established on the UCITS platform.
  • Advised VentureWave Capital on obtaining approval as a registered AIFM by the Central Bank.

Eversheds Sutherland

The 'innovative and commercial' team at Eversheds Sutherland has notable expertise in hedge fund formation, particularly for cryptocurrency funds, as well as advising on funds investing in SMEs and property and loan origination funds. It has also been active assisting with Brexit planning. Clients include asset managers and depositaries. The 'fantastic' Deborah Hutton, who joined the firm in June 2018 from an in-house role at Citibank Europe, leads the practice.

Practice head(s):

Deborah Hutton

Testimonials

The depth of knowledge, understanding of the market practice and familiarity with regulator expectations sets Eversheds apart. They are extremely responsive and commercial.

Deborah Hutton has industry experience that she can bring to bear. She is responsive, understands issues and delivers an opinion promptly. She is superb to work with and have on your side.

Deborah Hutton is fantastic.

The team is truly innovative and commercial. Their regulatory experience is unparalleled and they have expertise in new and novel assets classes and complex issues throughout the global custody chain.

Deborah Hutton is a powerhouse of knowledge and experience and a highly skilled negotiator. Deborah puts her clients first, is solution driven and is a trusted and commercially minded adviser.

Key clients

ClearBank Europe

Apex Group/ European Depositary Bank/ Deutsche Bank

Barometer Capital Management Inc

Westhill Atlantic Limited

Fibonacci Property ICAV

Link Market Services Trustees Limited

Nectar Capital LLP

Nanjia Capital ICAV

Carlyle Investment Management LLC

Allied Irish Banks, p.l.c.

Work highlights

  • Advised ClearBank Europe on the establishment of its headquarters in Ireland.
  • Advised Barometer Capital Management on the restructuring of a UCITS fund.
  • Advised Westhill Atlantic on the restructuring of a property fund.

LK Shields Solicitors

LK Shields Solicitors' 'pragmatic and commercial' team has been active in niche areas, including family office funds, life settlement funds and funds targeting US investors that are not domiciled in the US. In addition to advising on the formation of UCITS funds, the team has seen an increase in work in real estate, private equity, and credit and loan origination funds. Brexit planning is also a key area of expertise. The team was bolstered by the arrivals of Adrian Mulryan, who has extensive experience in the ETF space, from an in-house role and David Naughton from William Fry. David Williams has expertise in life settlement and property funds, and the 'fantastic' Trevor Dolan's practice covers structured UCITS, hedge funds, real estate and private equity funds.

Practice head(s):

Adrian Mulryan

Testimonials

Very good problem solvers who think outside the box to deliver solutions that work. Very good at mediating between parties.

David Williams assists in finding a way forward rather than reasons why not.

Succinct advice

They have a very good complement of backgrounds

Very pragmatic and commercial

Adrian Mulryan’s understanding of the business is exceptional.

Commercial awareness and the ability to convey the legal requirements in plain language. Affordable and practical solutions to issues. Approachable and available to help.

Trevor is a fantastic partner to our team and is our go-to for any questions relating to our activity in Ireland. He’s reliable and easy to engage with.

Senior associate Garry Wynne has built a great relationship with our in-house counsel. He is easy to engage with and always available to assist.

Key clients

Usonian Investments LLC

MUFG Fund Services (Ireland) Limited

Brown Brothers Harriman

Globaleye Pte Limited / AEON Funds ICAV

Corry Capital Advisors LLC / CCA Life Settlements Fund II ICAV

Aberdeen Standard Investments

Blueglen Investment Partners Ltd / Blueglen Funds ICAV

SS&C Technologies, Inc

TCA Fund Management Groups / TCA Special Situations Credit Strategies ICAV

Globaleye Pte Ltd / Aeon Funds ICAV

South River Global Funds plc

Work highlights

  • Advised Usonian Investments on the establishment of a UCITS fund.
  • Advising MUFG Fund Services on ongoing legal and regulatory obligations.
  • Advised Globaleye on the establishment of a UCITS fund.

Pinsent Masons LLP

Pinsent Masons LLP made its entry into the Irish market in summer 2017 and has established a 'responsive, agile and knowledgeable' funds team with experience in the structuring, formation and operation of UCITS funds and AIFs, as well as management companies. The practice has been particularly active advising fund managers on Irish authorisations and licensing applications as part of their Brexit strategies, while other areas of expertise include domestic and cross-border fund mergers and property funds. The 'very strong' Gayle Bowen, who joined the firm from Walkers, leads the practice.

Practice head(s):

Gayle Bowen

Testimonials

Responsive, agile and knowledgeable

Gayle Bowen mixes excellent technical knowledge with keen commercial acumen.

Senior associate Aongus McCarthy is knowledgeable and has a fine attention to detail.’

This firm is relatively new to Ireland but has built a strong level of expertise. The sharing of cross-jurisdictional expertise comes across strongly.

Gayle Bowen is very strong in leading the firm and building its profile locally and also in providing practical, solution-driven advice to clients.

Pinsent Masons are a relatively new entrant to the market and are really making a splash. Their funds team have excellent regulatory strengths.

Gayle Bowen and senior associate Marilyn Cooney are formidable in their approach to clients. They are keen, commercial, responsive and technically excellent.

A new firm in the Irish market, Pinsent Masons are enthusiastic, diligent and well connected. They have recruited a strong team who are proactive and keen to make a positive contribution.

Senior associate Aongus McCarthy is an outstanding young investment funds lawyer at the top of his game. Responsive and very knowledgable.

Gayle Bowen has great connections with the local regulator and influencers in the Irish market, and is always insightful with her opinions.

Key clients

Legal & General Asset Management

Insight Investment Management Limited

Elavon Financial Services DAC trading as US Bank Depositary Services

Carne Group

Dalmore Capital

Prescient Group

Equity Trustees

Quanta Capital

Prodigy Capital

Osmosis Investment Management Limited

Alpha Innovations

Fairwater Capital

Garraway Capital Management LLP

Candoris B.V.

Work highlights

  • Advised Legal & General Investment Management on its Brexit strategy planning.
  • Advised Dalmore Capital on the establishment of an Irish AIFM as part of its Brexit planning.
  • Advised Alpha Innovations on the establishment of a QIAIF Icav.