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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 
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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…

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07/10/2024
Financial Services Webinars On Demand
View recordings of CMS financial services webinars available on demand.Webinars are a convenient way to stay informed and hear from our legal experts.Webinars On Demandmedium
24/09/2024
The taxing question of carried interest
This article previously appeared in Thomson Reuters Regulatory In­tel­li­gence­Whilst it is a political decision as to how carried interest is taxed, there is some confusion in the Treasury’s suggestion...
09/09/2024
UK Tax Disputes Digest (Summer 2024)
Welcome to the Summer 2024 edition of our UK Tax Disputes Digest: a high-level summary of key developments in contentious tax over the last few months for heads of tax, finance directors, general counsel...
16/08/2024
New Investment Management Exemption regime in Italy - Scope and comparative...
Italy recently introduced an Investment Management Exemption regime (IME) which provides a protective framework to ensure that foreign investment vehicles (and directly or indirectly controlled entities)...
01/08/2024
Financial Services Webinars On Demand
View recordings of CMS financial services webinars available on demand.Webinars are a convenient way to stay informed and hear from our legal experts.Webinars On Demandmedium
18/07/2024
Key Takeaways from our AI in Financial Services Panel Event
During our recent panel event on Artificial Intelligence (“AI”) in Financial Services, the panel explored how firms are implementing AI in practice, the application of legal, regulatory and ethical...
09/07/2024
Analyse, Assess and Address – Regulatory focus on Private Equity
The Second Quarter of 2024 saw a series of publications by the Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on potential risks the private...
05/07/2024
Financial Services Webinars On Demand
View recordings of CMS financial services webinars available on demand.Webinars are a convenient way to stay informed and hear from our legal experts.Webinars On Demandmedium
28/06/2024
FCA publishes Consumer Duty outcomes review – what do I need to know?
The FCA has published the results of its multi-firm review into Consumer Duty outcomes monitoring. Although the review concentrated on 20 of the larger insurance firms, the FCA’s observations are relevant...
27/06/2024
FCA publishes Consumer Duty outcomes review – what do I need to know?
The FCA has published the results of its multi-firm review into Consumer Duty outcomes monitoring. Although the review concentrated on 20 of the larger insurance firms, the FCA’s observations are relevant...
26/06/2024
Taxation of carried interest: where are we now?
Reform of the taxation of carried interest has long been Labour policy. It was one of first tax policies announced by Rachel Reeves after becoming the Shadow Chancellor in Spring 2021, shortly prior to...
25/06/2024
Market Abuse Regulation (MAR): Ensuring Fair and Transparent Markets
Market Abuse Regulation (MAR) represents a comprehensive framework established by the European Union to prevent inter alia market manipulation, insider dealing, and unlawful disclosure of inside information...