Private investment funds are investing more capital than ever and the funds themselves are growing larger year on year. The industry’s success comes against a backdrop of evolving market trends, increasing regulatory and tax compliance and the rise of environment, social and governance (ESG). In relation to structuring, fundraising, making deals, managing exits, maintaining investor relations and dealing with the press, investors and their advisers are faced with unprecedented challenges and opportunities. This comprehensive new edition, edited by Tom Alabaster at Ropes&Gray, features contributions by leading industry specialists on a wide range of issues arising at all stages of a private investment fund’s life cycle. Topics covered include formation and structuring, regulatory matters, deal-level considerations and environmental concerns, as well as chapters focusing on jurisdictions including the Cayman Islands, Guernsey, Ireland, Jersey and Luxembourg. The guide also sets out and explores the particular issues presented in relation to listed funds, energy funds, secondary transactions and GP-led recapitalisations. As a result, this publication provides a wide-ranging and practical guide to the legal, regulatory, tax and commercial elements of establishing and operating private investment funds. Practitioners and other industry participants are likely to gain significant benefit from applying its contents within their own environment.
