Investment funds

Our investment funds team has a pre-eminent position in the sector, advising investment funds, managers, sponsors and investment banks that trust us to provide them with prompt, high-quality advice and solutions. Our significant experience and market knowledge gives us a comprehensive understanding of the issues. We make a valuable contribution to the success and development of our clients' businesses.
  • Profile
  • Experience
  • Key contacts

We provide advice to all types of investment fund and manager across a variety of asset classes. Our expertise includes:

  • investment fund launches, reconstructions and reorganisations
  • investment, M&A and corporate/LLP work for funds and managers
  • investor due diligence and negotiations
  • investment management agreements, distribution agreements, administration agreements and custody agreements etc.
  • outsourcing
  • regulatory issues
  • fund manager incentivisation
  • tax structuring advice
  • litigation.

Our fund management clients include Schroder, Woodford, Henderson, Jupiter, Miton, BlackRock, Premier and Sanditon.

In addition to our specialist investment funds team, we are able to draw on the skills and experience of our corporate, tax, projects and real estate colleagues to provide the tailored service a specialist fund requires.

We provide our funds services in Europe and Asia principally through our offices in the international financial centres of London, Paris and Hong Kong.

"The team is quite simply excellent, giving the highest quality advice and superb client service. Partners and associates are a pleasure to deal with and are evidently very knowledgeable and current in their areas of expertise." 

The Legal 500 UK 2022

P2P Global Investments PLC

We advised on the launch of the UK's first listed fund dedicated to investing in peer-to-peer loans and related credit assets. The IPO, which was oversubscribed, raised £200 million. We advised the Trust in respect of their two subsequent C share issues raising a further £600 million in total.

Woodford Investment Management LLP

We acted for Woodford Investment Management LLP on the largest ever investment trust IPO, Woodford Patient Capital Trust plc, raising £800 million on launch.

Jupiter Second Split Trust plc

We acted on the recommended section 110 scheme for the reorganisation and voluntary winding-up of this listed fund with the option for zero dividend preference shareholders to roll over some or all of their investment into units in the Jupiter Strategic Reserve Fund, an authorised unit trust.

Schroder Real Estate Investment Trust Limited

We advised this real estate investment company on its REIT conversion and on secondary issues and subsequent acquisitions of properties including City Tower, Manchester and Store Street College of Law, London. We also acted for the company on its £130 million refinancing.

Barker Asset Management Limited

We advised on the re-launch of this hedge fund for institutional investors, including the implementation of a contingent performance reserve mechanism in the performance fee arrangements.

SQN Asset Finance Income Fund Limited

We acted on the launch of this equipment leasing and asset finance fund, the first listed fund to invest in this asset class.

Numis Securities Limited

We acted for Numis Securities Limited as sponsor for a placing programme in respect of up to 50 million shares for JPMorgan US Smaller Companies Investment Trust plc, a listed fund listed on the premium segment of the Official List of the London Stock Exchange.

Sanditon Asset Management

We acted for Sanditon on the launch of their first investment trust with a long/short UK and European equities investment strategy and a stake in the investment manager.

RMS FinGroup Ltd

Advising in relation to the launch of the RMS Group's first hedge fund product. The fund is structured as a segregated portfolio company in the Cayman Islands.

Premier Energy and Water Trust plc

We advised on a complex court-approved scheme of arrangement to effect an extension of the life of the listed fund by moving an existing ZDP share class into a newly incorporated subsidiary.

Schroder European Real Estate Investment Trust PLC

We advised the fund on the first ever simultaneous London and Johannesburg Stock Exchange IPO which is a UK investment trust in European real estate.


William Saunders Head of funds and financial services

T:  +44 20 7809 2138
M:  +44 7770 721 429 Email William | Vcard Office:  London

Latest news & insights

12 May 2023

From News

Stephenson Harwood advises Liberum on Castelnau's £56.6m placing

Law firm Stephenson Harwood LLP has acted for Liberum Capital Limited (Liberum) in its role as sole financial adviser and bookrunner to Castelnau Group Limited (Castel..


05 May 2023

From Insights

Summary of the Consultation Conclusions of the SFC proposal to implement a regulatory regime for depositaries of SFC-authorised CIS

To understand more about the comments made by the SFC in response to the public consultation as well as how this may affect you please read the article.


31 Mar 2023

From News

Stephenson Harwood lawyers named in Thomson Reuters Stand-out Lawyers list

12 Stephenson Harwood lawyers have been named Thomson Reuters Stand-out Lawyers in 2023.


28 Mar 2023

From Insights

States, take note: Law Debenture v Ukraine

In The Law Debenture Trust Corporation plc v Ukraine [2023] UKSC 11, the Supreme Court dismissed a summary judgment application made by the Law Debenture Trust Corpora..


22 Mar 2023

From Insights

ESG as a component of investment DNA

The question of whether ESG should be made a part of fiduciary duty in investments has supporters at both ends.


01 Nov 2022

From Insights

Climate-related risks and decarbonisation survey

Asset managers may recall our alert in October 2022 - Climate-related risks: 20 November 2022 deadline - Have you checked the boxes?.


14 Oct 2022

From Insights

Climate-related risks: 20 November 2022 deadline - Have you checked the boxes?

By 20 November 2022, qualifying fund managers in Hong Kong will need to comply with the Securities and Futures Commission's Circular on Management and Disclosure of Cl..


26 Sep 2022
26 Jul 2022

From Insights

New virtual asset service provider regime to take effect on 1 March 2023

The Hong Kong Government has gazetted the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (the "Bill") on 24 June 2022.


13 May 2022

From Insights

Hong Kong building a Greater China Carbon Market Gateway

Hong Kong is pursuing a ground-breaking plan to develop market structure and regulatory models for global investors to access mainland China's carbon markets.


11 May 2022

From News

Stephenson Harwood advises LXi REIT on merger with SIR

Law firm Stephenson Harwood LLP is advising LXi REIT plc (LXi) on its proposed merger with Secure Income REIT plc (SIR).


06 Apr 2022

From Insights

Dubai Financial Services Authority Whistleblowing Regime to come into force on 7 April 2022– Are you prepared?

On 7 July 2021, the Dubai Financial Services Authority ("DFSA") released Consultation Paper No. 141 ("CP 141"), proposing the introduction of measures aimed at ensurin..


04 Apr 2022

From News

Julien Vandenbussche joins Stephenson Harwood as partner

Law firm Stephenson Harwood LLP has strengthened its investment funds capabilities with the appointment of Julien Vandenbussche as partner in its Paris office.


29 Mar 2022

From Insights

When family offices meet funds

This article discusses why family offices are gravitating towards pooled investment vehicles in managing their assets. Because, the chemistry is undeniable.


16 Feb 2022

From Insights

Deadlines looming for SFC ESG and climate-related requirements

The Securities and Futures Commission’s (SFC) enhanced disclosure guidelines for SFC-authorised unit and trusts and mutual funds that identify themselves as ESG funds ..


13 Jul 2021

From Insights

Almost home

The Government published in the Gazette on 2 July 2021 the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legi..


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