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Whether you are involved in a fund launch, marketing activities other indirect investment vehicles or on subsequent operational issues, you need to overcome legal hurdles both in domestic and cross-border activities. Your business is particularly facing significant challenges due to new regulations such as AIFMD, UCITS V, MiFID II, CRD IV anti-money laundering directives and greater protections being accorded to investors (such as PRIIPS regulation). Our pan-European funds experts advise across your key asset classes including private equity, venture capital, real estate, infrastructure, hedge, debt and exchange traded funds.

Our focus on your specific investment areas allows us to track new complex funds products, often before they come to market. This means we can advise you on the commercial as well as the legal aspects of your fund decisions. We recognize the fast-moving regulatory climate you face and aim to simplify the legal minefield with our expert funds guides and feature articles. These cover developments such as those affecting passporting and private placement regimes and allow you to keep pace with key market changes. In particular, we may assist you in devising efficient products distribution strategies. If you face litigation, our experts can help you secure the best possible outcome.

Who's Who Legal - Private Fund Lawyers 2015 : " Jérôme Sutour at CMS Francis Lefebvre Avocats is a “guru” on investment funds law. His “sensible advice” and “business-oriented solutions” are greatly appreciated by clients."

20/01/2016
CMS Guide to Private Placement of Funds
When implementing the Alternative Investment Fund Managers Directive ("AMFMD"), some EU States have tightened or severely restricted their private placement regimes, which is important when non-EU managers...

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18/03/2024
After many postponements, the Council of the European Union reached an...
As part of the European Green Deal, the European Commission proposed the Corporate Sustainability Due Diligence Directive (“CSDDD” or the “Directive”) on 23 February 2022, with the aim to introduce...
07/03/2024
Practical guidance on how to assess the existence of aid for risk financing...
On 26 January 2024, the Commission adopted practical guidance for Member States on assessing the existence of State aid for measures aimed at facilitating access to financing for certain busi­nesses.Risk...
04/03/2024
Popular investment vehicles in France
Updated on May 2022 Investment vehicle (OPCI) Fonds de placement Immobiliier (FPI)(OPCI) Société de placement à prépondérance Immobilière (SPPICAV) 1. Form (OPCI) Fonds de placement Immobiliier...
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29/02/2024
Amendments to Directive 2011/61/EU on alternative investment fund managers...
On 26 February 2024, the Council of the European Union officially approved amendments to Directive 2011/61/EU on alternative investment fund managers (read more), marking a significant development in...
13/02/2024
The EU Parliament and Council reached an agreement on ESG rating
On 5 February 2024, the European Parliament (the Parliament) and the Council of the European Union (the Council) reached a provisional agreement on the EU Commission's proposal from June 2023 for a regulation...
09/02/2024
ESMA reports on impact-washing concerns around funds focused on the United...
IntroductionOn 1 February 2024, the European Securities and Markets Authority (ESMA) published an article on the efficiency of funds focused on the United Nations Sustainable Development Goals (SDG)...
05/01/2024
Private placement rules and law in France
The General Regulation of the AMF and the AMF instruction no. 2014-03 provide for the possibility to apply for a marketing authorisation in relation to the marketing of non-passported AIFs. 1. Summary...
05/01/2024
AIFM passporting in France
1. EEA AIFMs AIFMs authorised in their EEA home State may exercise passport rights for management and marketing in France in relation to most types of AIF, on a services and / or branch basis. In order...
01/01/2024
Happy new year 2024!
We wish you all the best for the New Year. In 2024, we will continue to be guided by out values: commitment, excellence, team spirit and goodwill. Watch our wishes for a happy and prosperous New Year...
29/12/2023
UCITS passporting in France
1. EEA UCITS Schemes EEA Management Companies that are authorised in their home Member State to manage EEA UCITS may exercise passporting rights for the marketing in France of an EEA UCITS Scheme. In...
18/12/2023
ESAs propose amendments to the SFDR RTS
Continuing the theme of frequent changes to the application of the Sustainable Finance Disclosure Regulation (“SFDR”), the European Supervisory Authorities (“the ESAs”) are introducing amendments...
15/11/2023
Final text of political agreement on AIFMD II has been published
1.Background:On 25 November 2021, the European Commission (the Commission) put forward its proposal for amendments to the Directive 2011/61/EU on alternative investment fund managers (the AIFMD) as regards...