Investment Funds 2025

UK Law and Practice Contributed by: Sam Kay, Philippa List, Mark Stapleton and Nicolas Kokkinos, Dechert LLP

Dechert LLP is a global law firm with 17 loca - tions across the US, Europe, the Middle East and Asia. It has one of the largest investment fund practices in the world, with a record of in - novation stretching back 40 years. It advises across the full range of mainstream and alter - native asset classes and strategies, represent - ing some of the world’s largest fund complexes. The asset management practice has dedicated lawyers across 15 offices and operates as a

single practice group across the globe, with no internal barriers to collaboration. Clients look to the team for support across the entire fund lifecycle, from development and formation to marketing, operations and transactions. It pro - vides advice related to fund management and governance, and assists with the full range of regulatory and compliance issues, as well as investigations and litigation involving regulatory entities around the world.

Authors

Sam Kay is a partner in Dechert’s financial services group. He advises on a wide range of investment funds matters, with a particular focus on fund formation, representing private funds and asset managers throughout the private equity, private debt/credit, infrastructure and real estate industries. Sam advises GPs on complex transactions such as continuation funds, tender offers and strip sales, and has extensive experience in advising clients on matters of strategic significance, such as GP-stake sales, internal restructurings for succession planning, management spin- outs and complex carried interest arrangements. He also advises institutional investors, funds-of-funds and asset allocators on their participation in funds, as well as LP-led secondary activity from single assets to large portfolio sales.

Philippa List is a professional support counsel for Dechert’s financial services practice group, and advises on EU and UK legal and regulatory developments and trends. She

sits on various EU and UK industry working groups, including in relation to AIFMD reform, sustainability and ESG matters, and post- Brexit regulatory change. Philippa is actively involved in driving the practice group’s AIFMD 2.0, sustainability and ESG and ELTIF 2.0 initiatives. She is also a member of Dechert’s digital asset working group and was actively involved in the LIBOR and Brexit taskforces.

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