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Legal Services

We mould our areas of practice into solutions that align with the strategic priorities of private capital managers

House advisory

Structure, governance, reward and founder arrangements

Internal and external investigations

Investment manager M&A and stake sales

Fundraising

Fund formation

Retailisation

Carried interest and co-investment structuring

Fund and portfolio advice

Continuation funds and GP-led secondaries

Fund finance

Portfolio company advice and restructurings

Deployment

Equity

Credit

Real assets

Featured insights

November 2024

The evolution of direct lending fund fee structures

As competition within the private credit market intensifies, there is increasing fluidity in fee structures. This is being driven by both investor demand and manager innovation. In this article we analyse how different bases for calculating manager remuneration and different combinations thereof create optionality for managers and their investors.

September 2024

Credit fund currency sleeves

This note explores how European private credit managers are structuring funds to offer multiple currency options for investors and the strategies they use to hedge foreign exchange risks, both at the portfolio and currency sleeve levels, to mitigate FX volatility.

September 2024

NAV facilities to private equity and private credit borrowers

In this article, we examine the common ground and potential differences between NAV financings for private equity fund borrowers (PE NAV) and those for private credit fund borrowers (PC NAV).

June 2024

Tax distributions and carry clawback

Questions around tax distributions and carry clawback provisions in LPAs have come up in practice more often in recent months. We have written this Private Capital Solutions briefing to explore these topics in more detail.