With specialist teams based in Edinburgh and Glasgow, CMS offers comprehensive legal support across the full lifecycle of investment funds. The team also has extensive experience of advising on fund formations, mergers, restructurings, investments and closures, where it covers both regulated and unregulated funds. Practice head Karagh Gilliatt stands out for her work handling retail funds mandates, while co-head Colin Lawrie focuses on the partnership structures in funds and joint ventures, with strong expertise in the renewable energy, property and financial services sectors. Aidan Campbell is a key contact for Financial Conduct Authority (FCA) compliance advice and assistance with other regulatory aspects of unregulated fund matters.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- 'CMS provides the highest level services with a keen focus on building long-term relationships.’
- ‘Karagh Gilliatt has been an invaluable partner on our fund launches. She is extremely knowledgeable and accessible and provides clear and concise advice. Karagh prioritises the end clients and achieving the best outcome for investors.’
- ‘The breadth and depth of investment funds knowledge sets the firm apart as does the length and range of experience in working with asset manager clients, which provides invaluable context and comparative examples when considering solutions.’
- ‘Karagh Gilliatt is a leading expert on all matters related to investment funds; the extent of her knowledge, combined with a professional yet pragmatic approach to working with clients to find robust and effective solutions, make her my preferred contact when seeking external legal opinions.’
- ‘Aidan Campbell and his team have excellent specialist knowledge. They can convey the risks and steer us through the issues.’
- ‘Aidan Campbell has excellent knowledge of his sector and is excellent at steering us in the right direction.’
Key clients
- Phoenix Group
- Baillie Gifford
- Carne Global
- Waystone
- Scottish Widows Schroder Personal Wealth
- Aegon Asset Management UK plc
- Scottish Equitable plc
- Nomura Asset Management UK
- Westbrooke Yield Plus Plc
- Abrdn Fund Managers
- Scottish National Investment Bank
- SSE plc
Work highlights
Advised Phoenix Group on its joint venture with Schroders to form Future Growth Capital.
Advised the ACD of Baillie Gifford Positive Change Fund on the implementation of FCA’s Sustainability Disclosure Requirements regime, leading to the adoption of an “Impact label” for the Fund.
Advised abrdn Fund Managers Limited on the disposal of 4 UK authorised unit trusts to FundRock.
Lawyers
Hall of Fame
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Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Practice head
Karagh Gilliatt; Colin Lawrie
Other key lawyers
Aidan Campbell