Investment Funds: Real Estate | UK

With a dominant private funds group, Clifford Chance has expertise across the range of structures and asset classes. The team is well known for debt, real asset and upper mid-market private equity fund formation work, and especially for its market-leading real estate debt offering. The firm's global resources are fully utilised by the London team, which is able to offer advice to clients from around the world. It acts for an impressive list of clients, including high-profile UK, European and global fund managers.

CMS has a strong real estate funds practice that is regularly called upon by its international client base to advise on high-profile fundraisings and investments. CMS also has an impressive offering in terms of authorised and retail funds as well as quoted investment trusts. Complex secondary offerings, IPOs and other securities work form the basis of the listed funds practice, and fund mergers and formation and UCITS advice comprise the group's open-ended offering. The team maintains longstanding relationships with leading asset managers, particularly those based in Scotland, and continues to advise them on investment fund products. The funds group is also able to draw on expertise from its international offices to assist in cross-border work.

Linklaters boasts a comprehensive investment funds group with a global reach, bolstered by significant teams in Luxembourg and Frankfurt. It is regularly called upon to advise on complex and high-value mandates across a broad range of asset classes. The department focuses on real assets and private equity formation, alongside fund restructuring work. It represents some of the largest international asset managers and sovereign wealth funds in both GP and LP mandates. The funds group is known to be a leader in the debt fund space, with an excellent direct lending funds practice.

A&O Shearman is highly active on fundraising for major real estate funds. It advises on strategies relating to data centres, private wealth investment platforms and other matters. It also advises on real estate-related secondaries. The practice is international in nature and able to interact with Luxembourg, Dubai, New York and other locations around the world.

Greenberg Traurig maintains a well-developed practice that focuses on providing extensive support to real estate and infrastructure funds. It can handle matters concerning both large-scale debt and equity funds. The team at Greenberg Traurig provides all-round assistance to clients on fundraising, joint ventures, secondary transactions and final fund closing, among other matters.

Hogan Lovells has a strong real assets funds practice, with extensive expertise in fund formation and a core focus on infrastructure funds. It regularly advises clients investing in social infrastructure and other PPP assets. The team receives instructions from institutional managers, cornerstone investors and large brokers, and is as well versed in listed closed-ended structures as in traditional private funds.

A commanding force in the private equity space, Kirkland & Ellis handles an exceptional volume of high-profile formation work. Its funds group is well versed in raising for buyout funds, funds of funds real estate and infrastructure funds, as well as large secondary transactions. The firm represents a large number of the leading European asset managers and private equity sponsors. Its practice is complemented by tax and regulatory expertise at the firm. The department is also able to draw on the experience of a wide range of international teams to assist on cross-border matters for global clients. Kirkland & Ellis has enjoyed notable growth in its real estate funds capabilities in recent years.

Ashurst has a noted private funds practice that acts for private equity sponsors on both high-cap and mid-market fund launches. Private equity, infrastructure and credit are among the areas in which the team has strength. It also advises large institutional investors.

BCLP maintains a real estate fund-focused practice with strength in private equity-style real estate funds, joint ventures and other complex fund formation work. The team is able to advise on the full gamut of matters spanning the life cycle of a fund. It also handles large acquisitions and disposals, and provides tailored LP-side investment advice. The group frequently acts on cross-border deals involving international acquirers and investors. It is also able to leverage a market-leading general real estate department to best serve its client list of large institutional fund managers.

DLA Piper maintains a strong real estate funds practice, which is able to advise on funds that have international aspects, thanks to its offices in Luxembourg, the US, Singapore and elsewhere. It is able to advise both GPs and LPs on fund formation, regulatory matters and marketing.

Eversheds Sutherland assists asset managers and depositary banks with their AIFMD implementation, while also advising on matters relating to Property Authorised Investment Funds and Authorised Corporate Schemes. It has experience of launching funds with typically have values in the hundreds of millions. Beyond fund formation, the group is able to support on capital raising, debt raising and regulatory compliance, including ESG.

The respected funds team at Jones Day advises clients on all aspects of structuring real estate funds, including on tax and regulatory implications. It has complementary capabilities in Europe, Asia and the US.

Macfarlanes boasts a respected investment management group that acts for sponsors and investors. Its impressive team covers a broad array of fund mandates. Macfarlanes is notable for its work advising UK managers looking to raise mid-market buyout funds, with a team that includes regulatory experts and fully integrated tax specialists. Real estate and real estate debt funds form a core focus of the group, as do open-ended structures for retail funds.

Stephenson Harwood boasts an impressive deal flow, combined with an enviable client list that includes bulge bracket investment banks, brokers and investment trusts on listings, placings and complex secondary offerings. The firm enjoys plaudits for its GP-led transactional practice, in addition to its renowned investor-side prowess. The team is also well versed in real estate fund matters and has notable regulatory expertise.

Weil has an exceptional private funds team that is active across EMEA and the USA, offering integrated and holistic fund services in formation, marketing, tax and secondary transactions. The department counts large fund managers among its client base.