Gowling WLG advises investment managers and financial institutions on the life cycle of closed-ended listed funds with work encompassing fund formations, IPOs and secondary raises, reorganisations and liquidations. The team acts for new and existing fund managers on a continuous basis, with a strong share of the domestic IPO market; it also leverages the firm's wider regulatory and tax expertise. Practice head Nick Heather has longstanding relationships with major fund and investment managers, and is recognised for his commercial advice, while Oliver Riley focuses on the launch, structuring and reconstruction of onshore and offshore funds, working with a number of investment banks. Other key names include Kristian Rogers, who specialises in capital raisings and restructurings; and principal associate Kate Seabourne, who wins praise for her equity capital markets and corporate financing work.

Stephenson Harwood advises a wide array of closed-end listed funds, investment trusts and managers; alongside its longstanding fund clients, the group also recently won new instructions from major players including Investec and JP Morgan. The experienced team, led by the well-established William Saunders, has remained active, handling launches and IPOs, fund management M&A and an array of corporate governance and restructuring mandates; in a recent highlight, Alex Haynes advised on the high-profile change of management at Woodford Capital Trust, which became Schroders Capital Trust. Elizabeth Field is noted for her work on fund establishments and raisings, as well as corporate transactions and sponsor-side work. Senior associates Kate Longman and Alexa Whitehead are praised for their key roles in major matters, including high-value fund raisings and IPOs for a variety of open and closed-ended funds.

Travers Smith LLP handles complex fund life cycle matters for a variety of major investment funds, managers and financial sponsors, with work including fund launches and IPOs, secondary issues, restructurings and fund governance issues. The practice also works with clients on regulatory mandates including Brexit considerations and cross-jurisdictional compliance work. Of particular note is the team's relationships with institutional bank sponsors, and its growing portfolio of US-based fund managers seeking to launch in the UK. Practice head Aaron Stocks is an established authority on listed funds, advising major clients on the full spectrum of issues, with a particular specialism in IPOs and high-value placings. Will Normand focuses on closed-ended funds, advising funds and their sponsors on fundraisings, placings and secondary transactions.

Dentons provides a full-service offering to its listed funds clients, which include longstanding institutional managers including Aberdeen Standard, and several major REITs; the group advises on fund formations, launches, IPOs and a variety of corporate governance advisory matters. The team is divided between the firm's London and Edinburgh offices, with expertise in the Scottish market alongside strong cross-border capabilities. The team is jointly led by Guy Norfolk, who has notable relationships with Aberdeen Standard and Bailie Gifford; and Edinburgh-based Claire Armstrong, who advises funds on all aspects of formations and operations, with a particular specialism in closed-ended funds.

Hogan Lovells International LLP has strong fund listing capabilities and has listed funds across key domiciles including Luxembourg, the Channel Islands and Bermuda, as well as launching funds on key UK stock exchanges. The team benefits from the firm's US presence, advising clients on US regulatory and securities issues. The team advises a number of major fund managers and institutional investors on the launch and operation of funds active across a variety of alternative asset classes, including private equity, infrastructure, and renewable energy funds. Erik Jamieson leads the team, and advises issuers and underwriters on a variety of listings across international stock exchanges. Jonathan Baird is dual-qualified in the US and the UK, and provides non-US issuers with US securities and regulatory advice. Jeremy Pickles works on fund structurings and listings across a range of domiciles and asset classes.

Norton Rose Fulbright advises institutional investors and a growing portfolio of fund and asset managers on the full spectrum of issues relating to closed-ended listed funds encompassing fund formations, IPOs, secondary raisings and regulatory compliance issues. The team has particular expertise in working with infrastructure and renewable energy-related funds, and is led by Richard Sheen - a highly experienced practitioner who advises JP Morgan Elect and Starwood on fund launches, structurings and fund raising matters. Ian Fox is highly active in launch, structuring, and management work for a number of asset managers and investors, while Mark Lloyd-Williams has a notable focus on fund acquisitions and transactions. Senior associate Margaret Simcock advises on a variety of structuring, establishment and restructuring matters for asset managers, investors and funds.

Eversheds Sutherland (International) LLP advises fund managers and investment trusts on a variety of matters including fund formations and listings, investment strategies, financings and regulatory compliance work, with expertise across key fund domiciles including Hong Kong, Luxembourg, Singapore and Ireland. Ronald Paterson leads the team and has extensive experience advising fund managers on strategy and management issues, regulatory regimes and considerations, and the establishment of alternative fund types and structures across various asset classes. Principal associate Sarah Burnside heads up the Edinburgh financial services team, specialising in investment fund launches and restructurings for asset managers and institutional investors.

Slaughter and May advises investment trusts and asset managers on complex fund structures for investments in various industry sectors, as well as notably acting for the UK Government as a trusted adviser on sector investments. The team sits in the firm's corporate department, allowing it to advise across cross-border transactions, financings and asset manager M&A, as well as providing standalone regulatory advice. The team is led by Paul Dickson, who advises a variety of asset managers on bespoke fund structures, with a particular specialism in limited partnership arrangements. Nick Pacheco focuses on the financial institutions sector.