Investment funds in Netherlands

Allen & Overy LLP

Allen & Overy LLP's 'very strong and pragmatic' multidisciplinary practice is led by Ellen Cramer-de Jong  and tax specialist Godfried Kinnegim. Together with fellow tax specialist Rens Bondrager, the group can advise on all aspects of Dutch or international tax implications. The team serves an impressive array of clients across financial institutions, Dutch and foreign pension funds, and asset managers, and provides a comprehensive service from the structuring and establishment of funds onwards. It is also well placed to advise on related Brexit issues. Work also includes advising institutional investors on their participation in venture capitals and private equity funds. The firm also offers a range of tech solutions for clients via its Advanced Delivery & Solutions programme. Leonie Kraakman is highlighted for her blend of corporate and funds expertise.

Practice head(s):

Ellen Cramer-de Jong; Godfried Kinnegim

Other key lawyers:

Leonie Kraakman; Rens Bondrager

Testimonials

‘Multi-discipline, very strong and pragmatic.’

‘Highly involved and professional.’

‘Ellen Cramer is very creative in finding solutions that align our commercial interests with the ever changing financial legal framework. Not afraid to take a legal position. She is accessible and a very pleasant person to work with. ’

‘The team is very involved, well aware of recent developments and pro-active in informing us. Their advice is fast and of a very high standard. They do not limit themselves to what they are asked to do, but think along with you.’

‘Leonie Kraakman is the person I am very happy with. Cheerful and enthusiastic – not unimportant if you regularly call her. Intelligent and cooperative.’

‘The team is fast, accurate and proactive. Some other firms we work with need a bit more chasing on certain matters, but A&O is always very proactive.’

‘Leonie is fast, accurate and friendly. ’

‘Very knowledgeable, always available, swift action’

‘Ellen Cramer de Jong is a great partner to work with. She really knows us as a client and because of that has great added value.’

Key clients

5square

Achmea Investment Management

Aegon Asset Management

Annexum

Anterra Capital

BNP Paribas

Bouwinvest

Cambridge

Cervus Capital

Coöperatieve Rabobank U.A.

Credit Suisse

ILX

Incofin Investment Management

JP Morgan

Life Science Partners

LSP Advisory

M&G Investment Management

Manulife

Nederlandse Beleggingsmaatschappij voor Zeeschepen N.V.

NextEra Energy

NN Group

NN Investment Partners

Nordea Asset Management

Open Woningfonds N.V.

Private Debt Investments B.V.

Private Equity Investments B.V.

Rabobank Private Equity

Super Winkel Fonds N.V.

Tradeweb

Vendis Capital

Vesteda Investment Management

Work highlights

  • Advising on the transformation of the venture business of a listed foreign corporate from a captive fund to a non-captive co-investment structure.
  • Advise a large global financial institution on the structuring and establishment of a global debt platform which will be used for the roll out of a fund platform for other asset classes as well.
  • Advising NN, the large global insurance company, on its investments in private equity funds, infrastructure funds and debt funds.

De Brauw Blackstone Westbroek

The De Brauw Blackstone Westbroek team is considered 'the best you can get in the Netherlands' and Kees Groffen 'is an undisputed authority'. The team handles high-end transactions, disputes and regulatory enforcement matters, and also advises on related tax issues. It can coordinate cross-border matters utilising its network of offices in Brussels, Frankfurt, London, Shanghai and Singapore. It can also draw upon a best friends network elsewhere including the US. Clients benefit from the team's good connections with the Netherlands Authority for Financial Markets (AFM) and the practice also advises industry bodies such as the  private equity industry body Nederlandse Vereniging van ParticipatieMaatschappijen (NVP). Pensions expert, René Maatman advises companies, pension funds and pension providers, including asset managers and of counsel Minke Hoekstra is noted for her extensive experience. Senior associate Mariska Enzerink combines commercial/corporate support with regulatory structuring advice.

Practice head(s):

Kees Groffen

Other key lawyers:

Minke Hoekstra; Mariska Enzerink

Testimonials

‘We appreciate the practical approach and hands on mentality.’

‘This team is the best you can get in the Netherlands when it comes to investment funds. They have substantive knowledge and experience and rightfully have this reputation for many years now.’

‘Kees Groffen is the undisputed authority within this team. He is very approachable and knowledgeable. Furthermore, Kees is a hands-on lawyer who works pragmatically and comes up with real solutions.’

Minke Hoekstra also deserves special mention as with her extensive experience as in-house lawyer within asset managers, she is really able to think like her customers. ’

‘Responsive and practical.’

‘Kees Groffen has extensive knowledge and authority in the field, but at the same time is very practical. Mariska Enzerink is the rising star in Kees’ team and is a pleasure to work with: very responsive and knowledgeable. ’

‘The Investment funds practice of De Brauw is a team of very kind and knowledgeable professionals. They are constantly in close contact with supervisors and body industry groups and have always accurate knowledge of recent developments. ’

‘Apart from the state of the art knowledge, I very much value the accessibility of the individuals working in this team and their quick turn arounds if necessary. ’

‘I work with De Brauw in my capacity as legal & regulatory policy advisor. I am always very impressed by their willingness to put time and resources into the common good and advocating the interests of the sector. Both on the national and international level their knowledge is top-notch, and in international fora I am always very pleased to have them by my side. Few other Dutch firms would fit or survive in this top tier European league, but for de Brauw this seems like their natural habitat.’

‘The people I work with seem very genuinely interested in the subject matter, and very willing to put aside short term interests of their own firm for longer term interests of the sector as a whole. That is a quality that is to be truly admired. Special praise should go to Kees Groffen and Minke Hoekstra who take part in both national and international fora, but also ad hoc special sessions or questions. The time and energy they spend for the common good is to be lauded.’

‘The team offers excellent, sharp advisory services both in the area of corporate law and financial law which is an ideal combination. The team is able to think out of the box and suggest creative, innovative solutions new to the market place. Their close contacts with Dutch regulators add value to our day to day business as well as putting implementing entirely new solutions. This team puts the interests of their clients first instead of putting the focus on billing the client and maximizing billable hours.’

‘We highly appreciate working with Mariska Enzerink in particular and have been working very closely with her for many years. She is not only a top notch lawyer from a content perspective but she is also very easy to deal with, pragmatic, pro-active, committed and offers quick turnaround times. ’

‘What we value most from this firm is the fact that they provide very pragmatic advice and are able to help us think through most issues with both a legal and commercial lens. Prior to being formally appointed for a mandate, they are always available to assist us in the preliminary stage of a project without charging us trusting that we will come back to them if the project materialises. This is great added-value from the firm.’

‘Mariska Enzerink – very knowledgeable – very clear advice.’

Kees Groffen – always straight to the point and help addressing key issues very effectively.

Key clients

Achmea Investment Management

ACTIAM

Aegon Asset Management

Allianz Paraplufonds

APG Asset Management

ASR Vermogensbeheer

Avedon Capital Partners

Bouwinvest

CBRE Global Investors

DIF Management

NN Investment Partners

Prime Ventures

PGIM

Redevco Investment Management

Robeco Institutional Asset Management

SPF Beheer B.V.

Triodos Investment Management

Waterland Private Equity Partners

Pensioenfonds ING

Pensioenfonds Ahold NoUnivest

Work highlights

  • Drafting and negotiating fund (governance) documents for newly established (private equity, infrastructure, real estate etc) investment funds for both licensed and sub-thresholdmanagers, including for private equity boutiques Waterland and DIFManagement.
  • Advising Bouwinvest on the negotiations and entry into a large joint-venture in Paris student housing together with Ivanhoe Cambridge and Greystar
  • Advised DIF Management on the structuring and fund raising of a large infrastructure fund and private debt fund, both offered globally.

Houthoff

Houthoff is noted for its efficiency and for its skill in being able to provide the best lawyers to fit a client's needs. The highly rated Oscar van Angeren leads the team, and serves an array of funds clients, including private equity, hedge, real estate and retail funds. The team also advises asset managers, in addition to pension funds and other institutional investors. Sylvia Dikmans specialises in international tax planning, private equity and fund structuring, advising on both Dutch and Luxembourg tax law. Daan Horsthuis is highlighted for his extensive funds expertise; setting up investment funds and advising on areas such as  discretionary and fiduciary/integral asset management matters and regulations; he counts the Man Group among his clients.

Practice head(s):

Oscar van Angeren

Other key lawyers:

Sylvia Dikmans; Daan Horsthuis

Testimonials

‘The team is very involved in all requests made. They are very dedicated.’

‘Oscar van Angeren – Very dedicated, always happy to service. Daan Horsthuis – a very capable lawyer. Always very cooperative. Julia Nesselaar – always happy to look into solutions even in challenging times. Wouter Ekkelkamp – a very capable notary. Harm Plas – a very capable lawyer. Always very cooperative.’

‘This Houthoff team performs at top speed with worthwhile advice. The team has three levels; normal business at normal price, difficult advice and support at serious price and top quality from the Partner himself. The internal checks are efficient and fast, the services of the entire team are top.’

‘Houthoff has hired best in class lawyers. Yorick Kool is great for the day-to-day support, Daan Horsthuis supports with the Funds we’re building and has extensive knowledge of what’s doable and what’s not, Oscar van Angeren supports us with special advice and is the coordinator of the business. I know Oscar for years now. He has a fabulous memory of what we have discussed and agreed upon in the past. If any issues occur he is available and supports both clients and our own interests on a very integer basis. So to say: Oscar is fair; I appreciate this highly.’ 

Key clients

Man Group

CBRE Global Investors

Candriam Asset Management (previously Dexia Asset Management)

Hof Capital

A.S.R.

GLP Pte Ltd

Pension Fund for the Healthcare Industry (PFZW/PGGM)

Transport Industry Pension Fund

ABP (APG)

bpfBOUW

Work highlights

  • Advising A.S.R., one of the largest fund managers / insurance groups in the Netherlands, after winning a pitch among all leading Dutch firms to secure the business.
  • Advising Man Group, one of the largest hedge fund managers worldwide and listed on the London Stock Exchange, on a range of issues, including their Dutch flagship fund Man AHL Diversified Markets EU.
  • Advising Candriam Asset Management, one of the largest asset managers in Belgium, on a range of issues, including the set-up of its investment / fund management structure in the Netherlands (including its Dutch AIFM / UCITS branch).

Loyens & Loeff

Loyens & Loeff's top-flight practice offers 'integrated services, smoothly combining tax, legal and regulatory aspects in its approach'. Clients also benefit from the firm's technology and innovation team which is continually developing automated workflows and has developed a client portal - HighQ. Tax specialist Marco de Lignie is specialised in all aspects of domestic and international tax as they affect fund formations and management and routinely acts on private equity buyout and venture capital transactions. Fellow tax expert Roderik Beckers advises on European and other cross-border investments and REITs are a specialism. Joep Ottervanger has considerable experience advising fund managers and investors, and fund of funds, and Vilmar Feenstra is also an experienced funds specialist. Mark van Dam has left the practice to become a judge.   

Practice head(s):

Marco de Lignie

Other key lawyers:

Joep Ottervanger; Roderik Beckers; Vilmar Feenstra

Testimonials

‘Loyens & Loeff’s investment management practice offers truly integrated services. They smoothly combine tax, legal and regulatory aspects in their approach. They are very experienced and reliable, react fast and are always to-the-point. We highly appreciate their experience and great network among financial market and tax authorities. They provide excellent materials for our local tax and legal & regulatory committees and by contributing to yearly recurring training programs for both junior and senior investment managers.’

‘Marco de Lignie has been in the lead for a long time and is always up-to-date and willing to share his experience and knowledge. He has often noticed issues to work on before we knew of them. He brings in experts from tax areas, legal and regulatory when needed and is the driver behind better cooperation between European and local committees that work on better tax legislation in Europe and the Netherlands. Just a great person to work together with.’

‘All top tier advisors – technical skills outstanding – they combine this with hands on advice.’

‘The Loyens team works collaboratively, efficiently, and quite creatively. Together with Loyens, we have essentially invented a unique Venture Fund set-up, which was necessary due to our particular mandate, style, investors and the diverse geographies that we invest in. This has meant that Loyens has had to pull in partners from diverse practice groups to work with us as a flexible and fast-moving team. All of this is accomplished in a cohesive and collegiate fashion that is distinct and much appreciated.’

‘The practice leader Joep Ottervanger is one of the very best in the Dutch Investment Funds advisory business. Always available, extensive knowledge, hands on and internationally experienced, he brings the extra mile to his clients facilitating smart solutions.’

‘Under the lead of Joep Ottervanger the Investment Funds practice is a service orientated and solutions driven team with in depth knowledge on the investment funds market.’

‘On top of the current developments, good network within government agencies. Pragmatic, and focused.’

‘They offer a full service approach combining the different disciplines. Seem to be most knowledgeable of market practices.’ 

‘Joep Ottervanger has shown the perfect balance for us between high quality and efficiency. He has proved to be present when needed.’

‘They are good lawyers, very experienced, highly approachable and always willing to walk the extra mile. I appreciate Vilmar Feenstra’s hands-on approach as well as his thorough understanding of what is considered market practice.’

Key clients

Active Capital Company

AlpInvest Partners

Altera Vastgoed

Avedon Capital Partners

Bencis Capital Partners

Biogeneration Ventures

Cairn Real Estate

CBRE Global Investors

DIF Capital Partners

Egeria Capital Management

Endeit Capital

ERES (CAPREIT)

EQT

Finch Capital

Forbion

Gilde Buy Out Partners

Gilde Equity Management

Griffin Real Estate

HighBrook Investors

Heimstaden

Karmijn Kapitaal

Lone Star

Main Capital Partners

Mentha Capital

Nimbus

Parcom Capital

Round Hill Capital

Torqx Capital Partners

Value Enhancement Partners

Waterland Private Equity Investments

Work highlights

  • Advised Rabobank on its innovative and revolutionary cooperation with asset manager BlackRock, pursuant to which BlackRock will set up and manage a dedicated UCITS fund range for Rabobank clients with an AuM reported in press articles of EUR 50 billion which Rabobank manages for its clients.
  • Advised Parcom Capital on the formation of Parcom Fund VI CV with a fund size of EUR775 million.
  • Advised BioGeneration with the formation of its fourth fund, BioGeneration IV and with associated legal, regulatory and tax matters.

NautaDutilh

The highly regarded Larissa Silverentand and Frans van der Eerden jointly head the NautaDutilh funds management group. This group covers all aspects of funds, including regulatory advice, fund formation, cross-border structuring, listings, asset pooling and asset management arrangements. The team has also been  active in the area of NAV matters (up to €500m). It has a notably strong REITs practice and is also known for its mortgage-related fund structuring (a specialism for Frans Van Der Eerden). Jasha Sprecher  is also a key team member.

Practice head(s):

Larissa Silverentand; Frans van der Eerden

Other key lawyers:

Jasha Sprecher 

Testimonials

‘Larissa Silverentand is a highly qualified expert in Dutch and European financial markets regulation combined with excellent knowledge of the financial markets. What makes her stand out from the rest is that she is able to deliver and summarize very complicated and technically detailed legislation in a way that it is understandable to non-legal experts. ’

‘The Dutch mortgage market is quite unique in that in recent years many investment funds have been set up to facilitate the direct investment in consumer mortgages through investment funds. NautaDutilh have been instrumental in developing the transaction and fund structure. Seamless teamwork with the asset & structured finance team have made this possible and contributed greatly to the success of many of NautaDutilh’s clients.’

‘Frans van der Eerden (together with Michaela Ulrici from the asset & structured finance team) have set the benchmark in the Dutch market for the mortgage investment fund structure.’

Frans and Michaela are the go-to partners for anyone considering entering the Dutch market with a mortgage or consumer finance proposition.’

‘Their combined knowledge and ability to find fitting solutions are well-known and the reason they are asked to provide counsel on most if not all transactions in the Dutch market.’

‘Frans van der Erden has been particularly helpful to our clients. Very pragmatic and great at explaining the issues.’

Key clients

ABN AMRO

Achmea Investment Management

Alliance Bernstein

ASR

Bank of America Merrill Lynch

Brand New Day

CarVal Investors

CBRE Global Investors

Credit Suisse

Delta Lloyd

Deutsche Bank

Dynamic Credit

IBS Capital Management

ING Bank

JPMorgan

Kempen

Morgan Stanley

NIBC Bank

Nomura

Orix/Robeco

Rabobank

RNHB

Shell Asset Management Company

Sixth Street Partners

Société Générale

Stichting Stimuleringsfonds Volkshuisvesting Nederlandse Gemeenten (SVn)

Syntrus Achmea

Triodos

Triple Jump

T Rowe Price

Van Lanschot

VanWonen

Volksbank

Wells Fargo

Work highlights

  • Assists ASR with the development of its Dutch Mortgage Fund, which since its inception in 2017 has rapidly grown and continues to be growing
  • Assisting with the set-up of the Dutch “Warmth Fund”, a government initiative for a EUR 5 billion fund to support sustainability initiatives by granting loans to consumers and businesses.
  • Assists Syntrus Achmea with the structuring of their real estate and mortgage funds.

Clifford Chance

Clifford Chance is highly rated for providing 'high quality, cross-border advice on complex structures'. Marian Scheele has a wealth of experience spanning financial regulatory and legal aspects of financial institutions, with a focus on asset managers. Robert Smits also has a broad practice including expertise in AIFMD and Ucits depositaries. The firm's client roster covers fund managers, sponsors and institutional investors, assisting with the gamut of work from fund formation to structuring and ongoing licence requirements. Michiel Sunderman provides specialist tax advice, and senior associate Tjerk de Jonge routinely advises on the establishment of funds, and the establishment of separate managed accounts.

Practice head(s):

Marian Scheele; Robert Smits

Other key lawyers:

Alexander Chester; Tjerk de Jonge; Michiel Sunderman

Testimonials

‘Very experienced in regulatory matters around investment management business ’

‘Pleasant cooperation with all involved (partners & associates). practical approach. ’

‘The team led by Alexander Chester have excellent skills and knowledge in the Investment funds practice, who are assisting us on a daily basis with setting up complex carry and co-investment structures. Compared with other firms Clifford Chance is able to better handle the complexity of our schemes and very high pace in which we are setting them up. Unlike many other firms, Clifford is able to always arrange for their teams to be perfectly staffed for dealing with the high workload we are bringing them.’

‘Alexander Chester is an excellent lawyer, who is always able to find a super practical solution rather than throwing extensive memos. Alex really helps our working more efficient.’

‘Tjerk de Jonge is a rising star, who has an excellent skill-set as both a corporate but also as an investment fund lawyer. Always finds the most practical no-nonsense solution for complex issues. ’

‘Strong combinations of regulatory, legal and funds practice. High quality cross border advice on complex structures. ’

‘Michiel Sunderman: excellent fiscal lawyer, with extensive knowledge of the manner in which funds can be set up. Marian Scheele: regulatory expert.’

Key clients

BNP Paribas Asset Management

Rabobank

Aegon Asset Management

PGGM

Blue Sky Group

EQT

Multifund

Work highlights

  • Assisted BNPP Asset Management with the successful transfer of its fund management of Euronext-listed OBAM (UCITS fund) to a new fund manager, who obtained a UCITS license in this connection.
  • Assisted Rabobank with structuring and setting up the AGRI3 Fund for sustainable agriculture.
  • Advised Aegon Asset Management on an EU basis, regarding regulatory issues relating to an AIFMD fund / direct lending by the AIFMD fund.

Jones Day

Jones Day fields a team of 'solution-oriented thinkers'. The firm's international network is also a draw for many clients. It offers an integrated tax, legal and regulatory service to domestic and international clients in respect of fund formations, fund-related M&A, and litigation. Clients range from fund managers and sponsors, to institutional investors. 'Stand out' team heads Ate Veenstra and Quirine Eenhorst collectively provide the full range of funds advice including to private equity and hedge funds, and venture capital firms and also renewable energy and infrastructure funds. Harmen Wielens is another key team member.

Practice head(s):

Ate van IJlzinga Veenstra; Quirine Eenhorst

Other key lawyers:

Harmen Wielens; Pim Stokman; Anouk in den Kleef

Testimonials

‘The team is energetic, knowledgeable and easy to work with and can leverage on a vast international network.’

‘Ate is a very nice person, hands-on and on top of things.’

‘Solution oriented thinkers, experienced and able to grasp the core of complicated multi party negotiations on structured capital products for funds.’ 

‘Ate Veenstra – ability to move forward when negotiations get stuck through new approaches/introducing alternative angles and get the process back on track. Creative thinker and pleasant and reasonable person, making the counterparty readily accept his proposals.’

‘Ate Veenstra, Harmen Wielens and Pim Stokman of the Investments Funds team consistently provide high quality clear advice in a reliable and timely manner. They are very responsive and well connected with other practice groups within Jones Day. Where we have needed advice outside the investment funds space Ate, Harmen and Pim have been able to quickly connect us with other colleagues in the appropriate practice space (i.e., corporate/tax/M&A). They also have a great communication and relationship with the Dutch regulator as well as deep knowledge of the local market which is very helpful for our cross-border matters.’

‘The team truly works as an integrated team representing extensive experience in the investment fund industry on both the regulatory (including corporate law) and tax side. Their turn around is quick and their advice is spot on, having seen so many different transactions and structures in the past. They can adequately advise on the ‘need’ or ‘nice to haves’ when negotiating terms and conditions.’

‘Both Ate Veenstra and Quirine Eenhorst, as joint co-leaders of the investment funds team stand out because of their extensive years long and relevant experience in the fund/investment management practice and because they both truly act as an integrated team on tax and regulatory matters.’

‘The team’s ability to apply their unsurpassed knowledge to develop innovative solutions is their core strength. ’

‘Though Jones Day is an international firm, they operate as a local trusted party. Best of both worlds.’

‘Quirine Eenhorst is a very professional advisor, able to quickly think on her feet. She is available 24/7 and easily measures up against her peers at international law firms. Would recommend her to anybody active in the PE space.’

‘In-depth knowledge of structuring investment funds, also across border structuring. Striving for the best solution in both legal and tax. The team does not feel as a third party, but as an in-house legal team where the interests are aligned, at the same time they are very pleasant working with. The team is quick responding to questions and thinks in solutions rather then obstacles. ’

‘Ate Veenstra, Quirine Eenhorst and Anouk in den Kleef stood by us during challenging discussions and showed persistence, enthusiasm, flexibility and in the end getting the ball across the line. ’

Key clients

APG Asset Management

BPD Europe

DMFCo / DSF Capital Partners

DSM Pension Services

Egeria

Ice Lake Capital Management

Technical University of Delft (Teggwings IA)

Amvest REIM

Climate Fund Managers

FMO IM

IDH Sustainable Trade Initiative

NN Group (Investment Partners)

PGGM Vermogensbeheer

Providence Capital

Rabobank (Rabo Fund Management)

TCX Investment Management Company

Work highlights

  • Advises Rabo Fund Management on the restructuring and fund raise of its multibillion-euro mortgage loan platform and structuring of the Rabo Dutch Mortgages Fund Yellow.
  • Advising Climate Fund Managers in 2019 on the set-up of Climate Investor Two, a financing fund for water, sanitation, and ocean projects in emerging markets.
  • Advised Ice Lake Capital Management on the fundraising of EUR 90 million for its first private equity fund Ice Lake Capital Fund I.

Orange Clover Law

At Orange Clover LawMarcel van den Nieuwenhuijzen, Alex Gonzalez and Machiel Galjaart have a wealth of experience in investment management and related regulatory and corporate matters. Clients benefit from a full service on all aspects of investment management work spanning the structuring, formation, listing and marketing of investment funds. Additionally, advice is provided on fund raisings for investors and fund managers, through for example, feeder vehicles, club deals and  joint ventures. The team is adept at advising clients including banks and other financial institutions on the web of new, European regulatory regimes.

Practice head(s):

Marcel van den Nieuwenhuijzen

Other key lawyers:

Alex Gonzalez; Machiel Galjaart

Testimonials

‘The team is very knowledgeable in the area of investment funds. It has the technical know-how which is very important in that practice area. It is clear that this is their day-to-day business and not something where they only have the theoretical knowledge, but also the practical knowledge. There are in my view not that many firms in The Netherlands that have that type of practice. The team is very responsive and is able to turn around high quality documents quickly. ’

‘At the partner level, we have mainly been working with Marcel van den Nieuwenhuijzen. He is doing a great job, is highly knowledgeable in the area of investment funds, also on complex technical matters. He is easy to work with, is bright, hard-working and very responsive. ’

‘Orange Clover has a very dedicated team of seasoned professionals which have a long history at magic circle and other prominent law firms. They provide top quality advice with significant involvement of partners/seniors, for a very reasonable price.’

‘Very experienced partners and seniors which offer high quality work and which are very committed and close to their clients (as opposed to large teams with many juniors). Alex Gonzalez is a key person, in particular with respect to regulatory aspects.’

‘Strong capacity, good accessibility.’

‘Marcel is excellent in fund structuring and fund reviews.’

‘Orange Clover are no longer the new kids on the block but have become an established and trusted advisor to global financial institutions, particularly on regulatory matters. Expertise covers private investment funds, trading and payments law.’

‘Alex Gonzalez stands out as a pragmatic, user-friendly lawyer who understands the issues but can help clients make an informed decision about risk.’

‘Orange Clover is a relatively small firm that has all the benefit of large firms. Extremely experienced, fast and dedicated with sufficient lawyers to scale up to lager teams.’

‘We often work with Marcel van den Nieuwenhuijzen, an excellent lawyer capable of instantly providing creative solutions. ’

‘Sensible persons with the experience of the bigger law firms combined in a niche Amsterdam law firm. The team has a clear focus on specific areas.’

‘Marcel van den Nieuwenhuijzen is the partner I work with most. He is a nice guy to work with, sticks to his area of expertise and has a global view on matters. Especially when analyzing the set up of funds. Where professionals sometimes focus too much on their country of origin, Marcel takes an open view on what country would be best for the case at hand.’

‘We worked mainly with Marcel van de Nieuwenhuizen. Compared to other firms he is very approachable and creates quickly deal teams of other specialties needed in the business case. The team of Orange Clover responses are quick and accurate.’

‘Marcel van de Nieuwenhuijzen is to the point with a focus on the content. Combined with his communication and connection skills he creates value in the process.’

Key clients

Blackrock

DWS

Pemberton Asset Management

Vanguard

Stichting Pensioenfonds Metaal & Techniek

Stichting Pensioenfonds van de Metalelektro

MN Services

APG Asset Management

Triodos Investment Management

New York Stock Exchange

ICE Endex

Kazyna Capital Management

IPM

Stichting Pensioenfonds Hoogovens

Stichting Pensioenfonds Achmea

Orthogon Partners

Andlinger & Company

Echostreet Capital Management

01Ventures

NFA Management

Legal & General Investment Management

Carlyle Asia Partners

Avedon Capital Partners

Cinven

Hines Real Estate

NIBC Bank

Persépolis Investments

Andreas Capital

Work highlights

  • Advising WDL Kredietfondsen on the setting up of two debt funds and its asset management arm.
  • Advising Stichting Pensioenfonds Achmea on a large investment in a real estate fund.
  • Advising NFA Management on the setting up of a private equity fund and its asset management arm.

Finnius

Finnius is especially lauded as 'the go-to team for all fund-related regulatory matters'. When setting up a fund, the team provides bespoke regulatory services to an array of clients from private equity, listed and non-listed equity funds and Ucits funds, to real estate, fund of funds and crypto funds. Highly respected in the industry, Rosemarijn Labeur, who heads the team, advises on the practicalities of steering businesses through an ever-changing regulatory landscape. Senior associate Tim de Wit is skilled at advising on regulation regimes such as the EuVECA and investigations by the AFM in respect of new funds and Maurice van Oosten is another key senior associate.

Practice head(s):

Rosemarijn Labeur

Other key lawyers:

Tim de Wit; Maurice van Oosten

Testimonials

‘Finnius is the go-to team for all fund related regulatory matters. They are hands-on, extremely knowledgeable and likeable and fun to work with.’

‘I work with Rosemarijn and Tim. Tim is the upcoming man, eager and fully on the ball. Rosemarijn is the senior partner and well known in the market. What they have in common is that clients love them.’

‘The team has a personal way of communicating and know which topics to raise and dare to be critical where needed. They do not only advise by the letter of the law, but focus on what the regulators expectations are and the size of the organization.’

‘We generally work with and value partner Rosemarijn Labeur and associate Tim de Wit.’

‘The team at Finnius is highly knowledgeable in the niche in which they operate (financial supervisory law), and are very well able to guide us through all rules and regulations. We have now set up two new investment funds together with Finnius, and the collaboration has been very satisfactory.’

A key thing that differentiates them from other firms is that Finnius is very well able to differentiate between the different needs of their clients. As we operate a relatively small fund, they could advise us very well on how to comply with all needed regulations in a ‘lean and mean’ fashion.’

Another positive aspect of their practice is their attention to the changing rules and regulations, of which they timely inform their clients whenever this is relevant. This means that, even after a project has been finished, they still keep their clients’ interests at heart, which is very reassuring for an investment firm as it allows us to focus on our core tasks.’

They ensure on-time delivery of their work, within the agreed upon budget. Their fees are very reasonable and are on-par or below all other offers we have received to date.’

‘Our main point of contact at the firm is Rosemarijn Labeur (Partner), who is a pleasure to collaborate with. She is very knowledgeable, approachable, amicable and is very well able to tailor to our needs of keeping things ‘simple and lean’. We would recommend her (and her associates Tim de Wit and Maurice van Oosten) to anyone looking to set up a new investment fund in the Netherlands.’

‘ Much knowledge about and experience with AIFMD/UCITS legislation. Quick and practical advice.  Know the business and how (big and small) clients work.  Know how the Dutch supervising authorities work/think and how best to approach them.  No nonsense, to the point. They stick to their core competence. Do not make unnecessary hours, always prepared to give a guestimate. Easy to communicate with. Dedicated to their clients’

‘Rosemarijn Labeur engages other members of the team if and when needed, and coordinates this very well.’

Key clients

Privium Fund Management

NLC Fund Management

OBAM Investment Management

Certitudo Investment Management

Vesteda Investment Management

Juno Investment Partners

Transtrend

Jaran Capital

Momentum Capital

Duinweide Investeringen

IBS Fund Management

Meesman Index Investments

Veris Investments

Hanzevast Capital

Sentinel Real Estate

Wire Group

Cyber Capital

Work highlights

  • Assisted OBAM Investment Management in obtaining a UCITS license for managing the listed investment fund OBAM N.V.
  • Assisted Certitudo Investment Management with launching the Certitudo iRetail V Fund in cooperation with Langham Hall Management S.à r.l., which acts as the investment manager to the fund.
  • Assisted Privium Fund Management with the notification and approval by the AFM of a biotech alternative investment fund Aescap 2.0.

Simmons & Simmons

The 'well-balanced team' at Simmons & Simmons advises on the setting up and structuring of funds in Europe and further afield. Multi-jurisdictional teams bring together funds, tax, regulatory and corporate expertise, and also assist with the implications of Brexit. René van Eldonk (head of the tax group and also the managing partner) has decades of experience in international and domestic tax structuring and the planning of transactions including funds. Leo Verhoeff 'combines high ethical standards with a great amount of creativity' in his handling of transactions which span cross-border M&A and joint ventures. He is especially know in private equity sector where he represents both private equity investors and management teams. Rezah Stegeman, who is head of the financial markets group, assists asset managers, pension schemes, banks, and fund managers on regulatory matters.

Practice head(s):

René van Eldonk; Leo Verhoeff; Rezah Stegeman

Testimonials

‘Simmons has a well-balanced team, headed by the best partner I have met in my >15 years career in Finance/M&A. The team combines great responsiveness with in-depth knowledge of the environment investment funds act in, and a great amount of creativity to solve problems, no matter how complex they are. ’

‘The main reason the Simmons & Simmons team stands out is Leo Verhoeff. Leo is a unique person, with an exceptional focus on servicing his clients, no matter when or under how much pressure. He combines high ethical standards with a great amount of creativity, always focused on finding the best solution for his clients. Last but not least Leo combines his technical capabilities with a great sense of humour. As a result, no matter how high the pressure is, problems are always solved in a good atmosphere. As a result, since working with Leo, for the first time in my professional career I look forward to new legal matters popping up rather than keeping them away.’

Key clients

AXA Investment Managers

Bluecrest

British Land

Dimensional

BMO Global Asset Management

Insight Investment Capital

Lansdowne

Nova Capital

Candlewood Investment Group

Mason Capital

Van Lanschot

Aegon Asset Management

Kempen & Co

NN

Amundi

Schroders Investment Management

Redbird Capital

Delta Lloyd Asset Management

Gilde Equity Management

Surmount Growth and Innovation Fund I Coöperatief U.A. (Surmount Ventures)

Work highlights

  • Advised fund manager Atream SAS on behalf of institutional investors, pension funds and other investment funds on setting up a Dutch Alternative closed end Investment Fund and the acquisition by the fund of approximately 340 cottages, 50 hotel apartments and the exclusive facilities of holiday park CenterParcs De Eemhof, including its golf course, yacht harbour and all its operations.
  • Advising Redbird Capital on the setting up and structuring of a large EU investment platform for the acquisition and financing of sport clubs.
  • Advising GSAM on complex transactions involving the acquisition and financing of real property in the Netherlands alongside Highbrook and Aroundtown.

Stibbe

At Stibbe, Rogier Raas handles funds matters and financial services regulations work as part of the firm's Benelux investment management practice. He also acts for financial institutions and institutional investors on the negotiation and documentation of investment management mandates. The firm brings together corporate and tax fund structuring capabilities, in addition to a strong funds-related regulatory practice. Tax specialist Jeroen Smits jointly heads the practice with Raas, and senior associate Suzanne Kröner-Rosmalen has considerable experience handling regulations relating to funds including the application of the Alternative Fund Managers Directive.

Practice head(s):

Rogier Raas; Jeroen Smits

Other key lawyers:

Suzanne Kröner-Rosmalen 

Key clients

Aktia Asset Management

APG

Aquiline Capital Partners

Alceda

Alinda

Altor

Atrium

AQR

Baillie Gifford

Blackstone

BNP Paribas

Bouwfonds Property Development (BPD)

Canada Life

Carlyle

Cohen & Steers

Coller Capital

Charles Schwab

Columbia Capital

Dasym Investment Strategies

Egeria

ETF Securities

First Reserve

Generali

GMO

Goldman Sachs

Granite REIT

Hg Capital

HPE Growth Capital

Industrial & Infrastructure Fund Investment Corporation

ING

Internos

Intertrust

Japan Retail Fund Investment Corporation

KSL Capital Partners

Lend Lease Investment Management

Lexington

Lombard Odier

Macquarie

Mid Europa Partners

Mitsubishi Corporation

Neuberger Berman

NIBC

NN Group

Northleaf Capital

Nuveen Investments

Oaktree Capital

OMERS

Pershing Square Capital Management

Pioneer

Praxis Private Office

Prisma Capital

Proprium Capital Partners

Quadrant Capital Advisors

Reverence Capital

Rhône Capital

Rockspring

Silver Lake

SMBC

Van Campen Liem

At Van Campen Liem, Marc Van Campen specialises in cross-border private equity investments, fund structuring and related tax matters. Svetlana Baraban advises fund managers and investors on alternative investment funds, and Marcello Distaso, who divides his time between the Amsterdam and the Luxembourg offices, is an expert in international tax planning relating to M&A transactions and the structuring of venture capital and private equity deals.