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Cathy Pitt

Partner

CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
London
EC4N 6AF
United Kingdom
Languages English

Cathy Pitt is a partner in our Corporate department. Cathy’s practice is focussed on the investment management sector and encompasses fund structuring and fundraisings for domestic and international investment funds.  

She has a particularly strong reputation in listed funds, an area in which she has been practising for over 15 years.

As well as structuring investment products, Cathy advises investment management businesses on corporate and strategic transactions, such as M&A and joint ventures.

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Cathy is recognised in both Chambers UK and Legal 500 for her listed funds expertise and her Equity Capital Markets experience.

“incredibly bright, personable and commercial”.

Chambers, 2015

Relevant experience

  • J.P. Morgan Cazenove as bookrunner to the initial up to £100 million placing and subsequent share issuance programme of Mid Wynd International Investment Trust
  • J.P. Morgan Cazenove as sponsor and placing agent to the up to £800 million IPO of Aberforth Split Level Income Trust
  • Jefferies International as sponsor to the admission to the premium segment of the Official List of both Pershing Square Holdings and NB Private Equity
  • Numis Securities as sponsor and global co-ordinator to the share issuance programme of Funding Circle SME Income
  • Willis Towers Watson as incoming AIFM to Alliance Trust PLC
  • Wellcome Trust and Cancer Research UK on their respective participation as sellers and placees in the transformation of BACIT Limited to Syncona Limited
  • Winterflood Investment Trusts as sponsor on the IPO of Hadrian's Wall Secure Income Trust and subsequent C Share issue and share issuance programme.
  • Goldman Sachs and J.P Morgan Cazenove as sponsors and underwriters to the placing and open offer by Riverstone Energy Limited.
  • J.P. Morgan Cazenove and Jefferies as sponsors on the migration of HarbourVest Private Equity from the Specialist Funds Market to the premium segment of the main market
  • River and Mercantile UK Micro Cap Investment Company on its fundraising and proposed admission to listing on the Premium Segment of the Official List.
  • C Hoare & Co on the disposal of its wealth management business to Cazenove Capital and the disposal of its execution-only business to Canaccord Genuity Wealth Management
  • International Property Securities Exchange (IPSX) on its launch and application to FCA for recognition as a recognised investment exchange
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Education

  • 1996 - LPC, College of Law, York
  • 1995 - Law with French, LLB (Hons), University of Birmingham, Birmingham
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Publications

  • Cathy has written articles for FE Trustnet and FT Adviser.
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Lectures list

Cathy is a regular speaker on topics of interest to the investment trust sector.  Recent conferences include:

  • Guernsey Finance: A Fund Masterclass
  • Guernsey International Business Association: Seminar on Guernsey's appeal to the funds industry
  • London Stock Exchange Group New York conference on accessing  London’s equity capital markets
  • Infoline conference on legal, regulatory and accounting practices relevant to Investment Trusts
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16 July 2018
ECM Mar­ket Re­view June 2018
The CMS ECM Mar­ket Re­view is a sum­mary of re­cent events in some of the key sec­tors that we fo­cus on in­clud­ing En­ergy & In­fra­struc­ture, Fin­an­cial In­sti­tu­tions, Ho­tels & Leis­ure, Life Sci­ences & Health­care, Lis­ted Funds, Me­dia and Real Es­tate.
11 March 2020
En­quiry Let­ters from the FCA - In­vest­ig­a­tions in­to Mar­ket An­nounce­ments...
The FCA has re­spons­ib­il­ity for mon­it­or­ing the ac­cur­acy and timeli­ness of pub­lic an­nounce­ments made by pub­lic com­pan­ies with shares ad­mit­ted to list­ing or trad­ing (on the Of­fi­cial List, AIM and the Spe­cial­ist...
06/11/2014
CMS ad­vises on in­nov­at­ive lis­ted fund IPO
CMS in Lon­don is ad­vising new cli­ent, River and Mer­cant­ile UK Mi­cro Cap In­vest­ment Com­pany Lim­ited on its ini­tial pub­lic of­fer­ing and pro­posed ad­mis­sion to the premi­um seg­ment of the of­fi­cial list, an­nounced on 4 Novem­ber.
01 May 2018
Lim­ited Part­ner­ship Re­forms: "It's the end of the world as we know it and...
Bad people have been do­ing bad things with UK Lim­ited Part­ner­ships and Scot­tish Lim­ited Part­ner­ships (SLPs) in par­tic­u­lar. It’s far from clear who these bad people are (in­deed the De­part­ment for Busi­ness,...
15 March 2018
Pre-mar­ket­ing - Pro­posed changes to AIFMD
On 12 March 2018, the European Com­mis­sion pub­lished a pro­posed dir­ect­ive and a pro­posed reg­u­la­tion amend­ing the AIFMD and UCITS IV to fa­cil­it­ate cross-bor­der mar­ket­ing of funds. Im­port­antly, these pro­pos­als...
06 July 2017
CP17/18 and In­vest­ment Trust gov­ernance - coals to New­castle?
On 28 June 2017, the FCA pub­lished its long an­ti­cip­ated Fi­nal Re­port (the “Fi­nal Re­port”) on the As­set Man­age­ment Mar­ket Study (the “Mar­ket Study”). The Fi­nal Re­port fol­lows on from the in­ter­im...
02 June 2017
HM­RC v In­vest­ment Trust Com­pan­ies: Sup­pli­ers be­ware over­paid VAT
The rul­ing in HM­RC v In­vest­ment Trust Com­pan­ies [2017] UK­SC 29 pub­lished last month has es­tab­lished that fi­nal cus­tom­ers have no right to claim over­paid VAT dir­ectly from HM­RC, and in­stead their rem­edy...
23 May 2017
In­dustry views on open-ended funds and il­li­quid as­sets
Who, what and why? On 24 March 2017, CMS held a round table dis­cus­sion to gauge the in­dustry’s views on the FCA’s dis­cus­sion pa­per on il­li­quid as­sets and open-ended funds[1].  We were joined by a...
22 February 2017
FCA con­sults on il­li­quid as­sets held by open-ended funds
The FCA is con­sult­ing on the fu­ture of il­li­quid as­sets and open-ended in­vest­ment funds (Dis­cus­sion Pa­per 17/1).  This fol­lows the well-pub­li­cised sus­pen­sion of re­demp­tions by open-ended prop­erty funds...
24 January 2017
Lim­ited Part­ner­ships: UK Gov­ern­ment call for evid­ence on Re­view of Lim­ited...
Read­ers may be for­giv­en for think­ing that Gov­ern­ment re­views of lim­ited part­ner­ship law are much like the pro­ver­bi­al bus, you wait ages (dec­ades even) for one to come along and then two come at the same...
23 January 2017
The new private fund lim­ited part­ner­ship vehicle
UK lim­ited part­ner­ships are one of the most com­mon and pop­u­lar vehicles for in­vest­ments in vari­ous sec­tors in Europe, in­clud­ing private equity, real es­tate and in­fra­struc­ture, of­fer­ing a flex­ible, tax-trans­par­ent...