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Funds

CMS is a leading funds law firm in the UK and major European and other markets. We provide expert advice to fund managers and investors internationally at every stage of the funds lifecyle across assets classes and fund types. Market, legal, tax and regulatory conditions are fast changing and expertise, experience and commercial advice are essential.

The CMS Funds Group has in-depth experience and expertise to deliver your objectives in a practical and commercial manner for:

  • all funds and investment vehicles whether open or closed-ended, institutional or regional, private or listed, partnership or corporate, regulated or unregulated, we support you from planning and launch through investment, governance, and restructuring to exit and end of fund arrangements;
  • all fund related activities: we advise on structuring and establishing the fund, investor advice, management arrangements, carry structuring, debt finance, fund mergers and restructuring and secondary transfers;
  • the regulatory and tax requirements which shape a fund: we provide advice on issues including tax changes, new vehicles, financial regulation such as AIFMD, environmental, social and governance (ESG), tokenisation and AI; and
  • strategy and investment for performance across sectors through our sector-driven approach: whether you are investing in real estate, venture capital, private equity, credit, infrastructure, energy and clean energy, transport, life science & healthcare and pharmaceuticals, and TMC, we have sector experts at hand.

'Top in knowledge, top in delivery, top in everything that could be important.'

Our Funds team is top ranked in Chambers UK and Legal 500

Find out more

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Our experience: 
Real estate transactions 
and JVs

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Our experience: 
Private funds

Our experience: 
Investors

CMS Global Funds Group
The international funds industry is changing at unprecedented speed. Concerns...
CMS Funds Group Regulatory Tracker
The CMS Funds Group Regulatory Tracker is a horizon scanning tool, capturing...
Focusing on Funds
Keeping our clients abreast of developments in the funds industry…

Feed

18/04/2024
Transparency: ECCTA 2023 and Register of Overseas Entities update
The Economic Crime and Corporate Transparency Act 2023 (ECCTA), which is aimed at tackling economic crime and preventing abuse of corporate structures in the UK, will not only fundamentally reform the...
10/04/2024
FCA Consultation on Payment Optionality for Investment Research (CP24/7)
On 10 April 2024, the FCA published a consultation on Payment Optionality for Investment Research (CP24/7). In the consultation, the FCA proposes a new option for asset managers when paying for investment...
04/04/2024
Lexology Masterclass: The future of AI in financial services, where innovation...
On 29 February, our CMS Financial Services Regulatory team and Nextwave hosted a Lexology Masterclass on the future of AI in financial services. In this webinar, we offered practical insights into how...
02/04/2024
ESMA feedback statement on shortening the EU settlement cycle reveals widespread...
The European Securities and Markets Authority (ESMA) has released a feedback statement summarising comments received from market participants during its consultation on shortening the EU settlement cycle.Under...
28/03/2024
FCA Publishes Finalised Guidance on Financial Promotions on Social Media
The Financial Conduct Authority (“FCA”) has published its finalised guidance on financial promotions on social media (FG24/1) (the “Guidance”). This follows a consultation carried out by the FCA...
18/03/2024
Financial Services Webinars On Demand
Click here to view recordings of CMS financial services we­binars avail­able on de­mand. We­binars are a convenient way to stay informed and hear from our legal experts. medium
06/03/2024
Spring Budget 2024 – key tax announcements
Against the backdrop of an election (probably) later this year, the Chancellor was evidently feeling the pressure to make tax announcements that would find favour with the electorate, whilst constrained...
06/03/2024
FCA sends Dear CEO letter to firms in warning over money laundering failings
The Financial Conduct Authority (“FCA”) has sent a Dear CEO letter (the “Letter”) to Annex 1 Firms warning them about common failings found in their ability to prevent money laundering, terrorist...
04/03/2024
Popular investment vehicles in the UK and offshore jurisdictions
Updated on December 2023 Investment vehicle UK Limited Partnership [Private Fund Limited Partnership]UK Unauthorised Exempt Property Unit TrustOpen-Ended Investment Company (OEIC)Authorised Contractual...
Comparable
01/03/2024
Digital Assets
Does your business have or is it ready for digitalisation and digital assets? Digital assets are transforming the world of business. Not just technologies in the news, like AI and crypto currencies, but a whole world of technological advances, from digital twins and extended reality to smart contracts and token­isa­tion. For tech businesses and those already using such technology to develop and market new products, much of this is core activity and relatively well understood – although legal and regulatory uncertainties remain, and potential pitfalls still exist for the unwary. But other business leaders, often less familiar with the territory, have to manage an increasingly complex assortment of issues that never troubled their predecessors, ranging from protecting their brand in the metaverse to deciding whether they should tokenise their shares or accept payments in crypto currencies. This section of Bandwidth looks at issues around the development and regulation of a wide variety of digital assets, and discusses how businesses can embrace them to innovate and evolve.
29/02/2024
UK FCA proposals to publicly announce investigations could be detrimental...
With every new director of enforcement and market oversight at the Financial Conduct Authority (FCA), there is a step change in the way the regulator approaches enforcement cases.Under the FCA's former...
20/02/2024
Economic Crime and Corporate Transparency Act 2023: changes expected to...
From Spring 2024 we expect the role of Companies House and the Registrar of Companies (Registrar) to change significantly from simply incorporating companies and being a largely passive information recipient...