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We assist with the structuring, formation, fundraising, operation and investment activities of a broad range of both listed and non-listed funds across multiple industries. With teams in all relevant jurisdictions in Europe, we advise on the most beneficial tax and legal structuring of funds, we assist with permit applications and identify potential licensing exemptions. We draft the offering documentation and we advise on the rules applicable to the marketing and offering of participations in the fund. We also have significant experience in the marketing of foreign funds in the Netherlands, including the listing of non-Dutch funds on the Amsterdam stock exchange.

Whether you are launching, operating, lending to or investing in a fund or an alternative indirect investment vehicle, you need to overcome legal hurdles which may be from a domestic and/or cross-border perspective. Our pan-European funds group advises across your key asset classes including private equity, real estate, infrastructure, hedge, venture capital, debt and exchange traded funds. Our experience and varied client base enables us to advise on the commercial as well as the legal and tax aspects.

We recognise the fast-moving regulatory climate and aim to simplify the legal minefield with our expert funds guides. These cover developments such as those affecting passporting and private placement regimes and allow you to keep pace with key market changes.

Your questions may cover the entire lifecycle of a fund: the establishment, the most favorable structure from a tax and legal perspective, the admission of investors, operational and investment activities and licence requirements. We assist you in this whole process, take care of the permit application and identify potential licensing exemptions.

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June 2019
CMS Funds Glob­al Bro­chure
Sep 2018
CMS European M&A Out­look
Scan­ning the ho­ri­zon: European M&A Out­look 2018
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04/09/2019
Token­ized As­sets: Fin­ance in­nov­a­tion lead­ing to new...
Pod­cast
26/07/2019
EU tax­onomy: Steer­ing cap­it­al flows to­wards a sus­tain­able fu­ture for...
Last month a group of ex­perts rep­res­ent­ing a range of European fin­an­cial ser­vices sec­tors, in­ter­na­tion­al or­gan­isa­tions and civil so­ci­ety pub­lished their re­com­mend­a­tions for an EU tax­onomy for sus­tain­able eco­nom­ic activ­it­ies.
21/08/2019
CMS - Fo­cus­ing on Funds – Lux­em­bourg Brexit
16/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Data Pro­tec­tion The European Gen­er­al Data Pro­tec­tion Reg­u­la­tion raises at least two is­sues in par­tic­u­lar in this con­text. First: is pseud­onym­ous in­form­a­tion per­son­al data? Second: how can a “right to be for­got­ten” be con­sist­ent with an im­mut­able ledger? Oth­er.
21/08/2019
Token­ized As­sets: An In­vestor’s Per­spect­ive
Pod­cast
11/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Rem­ed­ies: In Prin­ciple The ori­gin­al Bit­coin White Pa­per stressed the im­port­ance of trans­ac­tions not be­ing re­vers­ible. Ir­re­vers­ib­il­ity is a func­tion of Bit­coin, de­lib­er­ately de­signed to re­duce trans­ac­tion costs and im­prove ef­fi­ciency.
June 2019
CMS Funds Glob­al Bro­chure
08/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Jur­is­dic­tion­al is­sues Many com­ment­at­ors note that true de­cent­ral­isa­tion im­plies that en­force­ment of ob­lig­a­tions must be ef­fected through the sys­tem. A per­mis­sioned sys­tem may in­clude con­ven­tion­al gov­ern­ing law and jur­is­dic­tion pro­vi­sions with­in a con­trac­tu­al.
24/07/2019
CMS - Fo­cus­ing on Funds - More than a token ges­ture
03/07/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Leg­al Per­son­al­ity De­term­in­ing wheth­er a sys­tem has leg­al per­son­al­ity has im­plic­a­tions for many of the ques­tions con­sidered in re­la­tion to this top­ic. In 'Ho­ri­zon Scan­ning — Block­chain: The Leg­al Im­plic­a­tions of Dis­trib­uted Sys­tem­s', the Law So­ci­ety ques­tions.
21/06/2019
CMS - Fo­cus­ing on Funds - Trans­fer tax changes af­fect­ing...
19/06/2019
An in­tro­duc­tion to the law of block­chain and dis­trib­uted ledger tech­no­lo­gies...
Block­chain and oth­er dis­trib­uted ledger tech­no­lo­gies (DLT) are ap­proach­ing the main­stream. Tech­no­logy com­pan­ies of­fer products for com­mer­cial pro­jects. IB­M's Block­chain Plat­form ref­er­ences “500+ cli­ent en­gage­ments to date”.