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Private Investment Funds

Poul Schmith advises Danish and international fund managers, sponsors, asset managers, GPs and investors on the formation, structuring and operation of private investment funds. We assist with fund documentation, regulatory matters, investor terms and the legal issues that arise throughout the fund’s lifecycle.

Private Investment Funds

Poul Schmith advises Danish and international fund managers, sponsors, asset managers, GPs and investors on the formation, structuring and operation of private investment funds. We assist with fund documentation, regulatory matters, investor terms and the legal issues that arise throughout the fund’s lifecycle.

Private investment funds – structure, regulation and capital

Private investment funds are used across asset classes such as private equity, venture capital, infrastructure, real estate, credit, energy, shipping and other alternative investments. The area involves complex fund structures, regulatory requirements, institutional investor terms and a need for clear governance between the manager, GP, investors and any co-investors.

We advise on both Danish and international fund structures, including limited partnership structures, corporate structures, GP and manager arrangements, feeder funds, parallel funds, sidecars and co-investment structures. Our advice also covers interaction with the Danish Financial Supervisory Authority, AIFM registration or license, marketing of AIFs in Denmark (including cross border marketing), depositary arrangements, compliance and ongoing regulatory obligations.

Advice throughout the fund lifecycle

We assist from the initial considerations on structure, investor base and governance through to the preparation of PPM, fund documentation, including the LPA, fundraising, closings, investor negotiations and ongoing operation. We also advise institutional investors, pension funds, family offices and corporates on investments in alternative funds, including legal due diligence of fund documentation, investor terms and side letters.

Our advice is based on the fund strategy, investor profile and applicable regulatory framework. The aim is to establish a clear and practical legal basis for the fund and its investors.

We assist with, among other things:

  • Fund formation and structuring
  • LPAs, management agreements and subscription documents
  • GP, manager and governance structures
  • Feeder, parallel fund and sidecar structures
  • Fundraising, closings and investor negotiations
  • Side letters, governance and conflicts of interest
  • Fees, carried interest and co-investment rights
  • Application for AIFM license or registration, depositary arrangements, and regulatory compliance
  • Marketing of AIFs, including cross border marketing
  • LP advisory and legal due diligence

Where relevant, we combine our advice with Poul Schmith’s expertise in corporate law, M&A, tax, financial regulation, compliance, GDPR, anti-money laundering/KYC, FATCA/CRS and other relevant legal areas.