Our funds practice delivers a streamlined and co-ordinated service to our clients. The funds tax group provides an integral part of this service.  

Tax neutrality for investors and tax efficiencies for management are vital to a fund's success.  We work closely with our clients and colleagues to understand the commercial objectives of the fund and its participators' profiles.  This allows us to identify the most suitable investment vehicle and management structure for each fund. 

Our tax capabilities go further than fund formation.  We also regularly advise on the tax implications of realisations made by funds, the acquisition and disposal of fund management businesses, carried interest arrangements and the tax efficient reconstruction, relocation or winding up of fund structures.  

Our extensive experience spans all the principal types of onshore and offshore fund, as well as joint venture, co-investment and carried interest vehicles. 

We regularly advise on the tax issues relevant to private equity and venture capital funds, real estate funds, infrastructure funds, renewable energy and cleantech funds. Given our unrivalled knowledge of the film industry, we are also uniquely placed to advise on the tax implications of investment funds in that sector.

The summaries set out below provide a flavour of our experience in funds tax:

• Advised on the launch of a Cypriot based clean energy fund targeting €250m of commitments.

• Advised on the launch of an energy and infrastructure fund seeking $500m of commitments, which used an English LLP as the fund vehicle.

• Advised on the structuring of a fund focused on expansion stage and late stage businesses, LMBOs and LMBIs, targeting €250-350m of commitments.

• Advised Mourant on the sale of Mourant International Finance Administration (MIFA), a provider of off-shore legal and administration services for alternative investment industries with $170 billion in assets under administration, to US bank, State Street Corporation.

• Advised clients of F&C REIT Asset Management LLP and AREA on the establishment of multiple Guernsey limited partnerships for the purposes of acquiring over 220 properties from the administrators and administrative receivers of the Dawnay Day group.

• Advised the management of Delancey Real Estate Asset Management in connection with the establishment of DV4 Limited, a property investment fund, which raised in excess of £1 billion.

• Advised New Star Asset Management Group PLC and funds managed by it, in relation to its capital restructuring, the winding-up and roll over of assets, and on a number of transactions and operational issues.

• Advised Freedom Acquisition Holdings, Inc on the reverse takeover of GLG Partners LP, then, Europe's largest privately held hedge fund manager, with approximately US$18 billion under management.

• Advised upon the establishment of a $150 million fund for Anton Capital Entertainment which then entered into the first European film slate financing deal in Europe with Studio Canal.