Investment Funds: Fund Formation | Europe

Clifford Chance is viewed by many international or major domestic asset management firms as a top choice to handle complex and high-value investment transactions. The law firm acts on private equity buyouts, handles add-on acquisitions to bolster portfolio companies and assists with eventual exits, which often take the form of secondary sales. Clifford Chance advises on equity investments into companies holding infrastructure, energy or real estate assets. It offers experience in standout public-to-private transactions, earning additional praise for its ability to draw on strong expertise in various supporting practice areas, including finance and antitrust. The team is also adept at assisting with fund formation and structuring involving Spanish private equity funds, including in deals that present a Luxembourg law component. Clifford Chance acts for investors taking positions as limited partners in Spanish funds, and also has experience in secondaries and GP-led transactions.

Cuatrecasas offers a wide-ranging practice advising on a variety of mandates in the funds sphere. The law firm often acts for corporate clients that are the targets of private equity investment, including experience on the buy side of standout transactions that have significant Latin American or Portuguese considerations, with a proven track record in direct lending transactions. Key individuals in the team advise on regulatory and corporate questions pertaining to the establishment and distribution of diverse alternative investment funds, including European long-term investment funds or debt funds. Cuatrecasas is also well equipped to assist clients with venture capital financing rounds.

Garrigues draws from a strong bench of transactional experts who regularly act for private equity firms on LBOs, carve-outs, add-on acquisitions and sales. The department is well suited to handle transactions that draw on the knowledge and skills of lawyers based in smaller Spanish cities. The law firm provides wider services to private equity clients through its expertise in finance, restructuring, tax and disputes. The firm is also well placed to handle fund formation matters, including the structuring of alternative funds and regulatory issues. Garrigues also enjoys a strong presence in venture capital mandates, with a solid track record in equity deals carried out by several of the key venture capital firms investing in Spain.

Alter Legal is a boutique law firm based in Madrid that specialises in fund formation work. The law firm is well regarded by market commentators for its focused expertise in this space, regularly acting for investors. The team handles a range of primary and secondary investments, as well as regulatory and tax matters.