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Telescope

Whether you are establishing, managing, investing in or lending to a fund, you need experienced advisers who have done it before.

Our specialist funds group has expertise in all fund types: open or closed-ended, institutional or retail, private or listed, partnership or corporate, authorised or unauthorised. The UK-based team is part of CMS’ global funds group. We advise clients wherever they are operating and can efficiently assist in co-ordinating your international distribution strategy.

As well as deep regulatory and taxation expertise, we bring practical advice based on long experience. We are recognised experts in fund formation and also advise on debt finance; fund mergers and restructuring; carry restructuring; secondary transfers; and regulatory affairs.

As well as technical expertise, your advisers should add practical value. We consciously cultivate relationships with regulators, depositaries, administrators and placing agents, which facilitates smooth transactions.

Knowledge of the asset class can be essential to a successful fund launch. CMS’ sector-driven approach allows us to offer asset-class expertise, particularly for real estate, private equity, infrastructure, energy and clean energy, transport, life sciences & healthcare and pharmaceuticals, and TMC.

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High­lights of our ex­per­i­ence in Funds in the UK
River and Mer­cant­ile UK Mi­cro Cap on The IPO and ad­mis­sion to premi­um list­ing. The fund’s in­nov­at­ive re­turn of cap­it­al mech­an­ism at­trac­ted sig­ni­fic­ant in­dustry com­ment and demon­strated our abil­ity to struc­ture funds in the right jur­is­dic­tion to suit the cli­ent’s com­mer­cial needs.Gold­man Sachs and JP Mor­gan Cazen­ove on Book­run­ners to River­stone En­ergy’s pla­cing and open of­fer. This trans­ac­tion show­cased our lis­ted fund and US Se­cur­it­ies law prac­tices and our abil­ity to quickly get up to speed and re­spond to deal dy­nam­ics.DFJ Es­prit Sec­ond­ar­ies on a lim­ited part­ner­ship of­fer­ing in­vestors the abil­ity to par­ti­cip­ate in in­vest­ments on an “opt-in” basis. This trans­ac­tion demon­strated CMS’s abil­ity to de­liv­er res­ults on a very com­plic­ated trans­ac­tion, with­in tight dead­lines, while man­aging the in­put of oth­er leg­al ad­visers.Stand­ard Life In­vest­ments Group on the in­teg­ra­tion of the Ig­nis busi­ness fol­low­ing its ac­quis­i­tion. This demon­strated our abil­ity to close, merge and trans­fer funds with­in tight time­frames and reg­u­lat­ory para­met­ers.Please down­load the print ver­sion be­low.
Law-Now: Funds
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11 March 2020
Sus­tain­able Fin­ance or Re­spons­ible In­vest­ment – a guide for as­set man­agers
Re­spons­ible In­vest­ment has, in a few short years, moved from be­ing an out­lier in the as­set man­age­ment world to an is­sue of glob­al im­port­ance which is front and centre of polit­ic­al, leg­al and mar­ket pri­or­it­ies. This doc­u­ment is in­ten­ded to give an over­view
22 November 2019
CMS Ex­pert Guide to Pass­port­ing (UCITS)
Rules on Mar­ket­ing Un­der­tak­ings for Col­lect­ive In­vest­ment in Trans­fer­able Se­cur­it­ies in Europe
04 June 2020
FCA Up­date and Guid­ance on the Busi­ness In­ter­rup­tion In­sur­ance Test Case
Over­view On 1 June the FCA pub­lished fur­ther de­tail about its plans to bring a test case in the High Court in re­la­tion to non-dam­age busi­ness in­ter­rup­tion (“BI”) in­sur­ance policies in re­sponse to...
19 March 2019
CMS ad­vises on form­a­tion of ‘Cherry Park Part­ner­ship’ to de­liv­er one of...
In­ter­na­tion­al law firm CMS has ad­vised Ca­na­dian pub­lic pen­sion fund the “Pub­lic Sec­tor Pen­sion In­vest­ment Board” (PSP In­vest­ments) and glob­al real es­tate com­pany Quad­Real Prop­erty Group (Quad­Real) on the sign­ing of its con­di­tion­al agree­ment with Uni­bail-R
22 November 2019
CMS Ex­pert Guide to Pass­port­ing (AIF)
03 June 2020
Ex­e­cu­tion-only SIPP pro­vider not li­able to in­vestor
The High Court has held that an ex­e­cu­tion-only SIPP pro­vider was not li­able to an in­vestor who sus­tained losses when he trans­ferred an ex­ist­ing pen­sion in­to a SIPP op­er­ated by the pro­vider. The de­cision...
11 February 2019
CMS ap­points new part­ner to strengthen in­ter­na­tion­al funds prac­tice
In­ter­na­tion­al law firm CMS is pleased to an­nounce the ap­point­ment of Ed Kings­bury who joins the firm as a part­ner in its funds prac­tice in Lon­don. Ed joins from Dech­ert LLP. Read more about Ed's ap­point­ment here.
22 November 2019
CMS Ex­pert Guide to Private Place­ment of Funds
26 May 2020
FCA an­nounces sup­port for cus­tom­ers who are strug­gling to pay their mort­gage...
The FCA has an­nounced pro­pos­als (the Pro­pos­als) out­lining the op­tions firms will be re­quired to of­fer cus­tom­ers reach­ing the end of a pay­ment hol­i­day, as well those who are yet to re­quest one. If cus­tom­ers...
27 September 2018
CMS ad­vise on over £1.6 bil­lion of fun­drais­ings for lis­ted funds
22 May 2020
For­eign in­vest­ments in Ger­man life sci­ence com­pan­ies be­come sub­ject to...
In re­sponse to the COV­ID-19 pan­dem­ic, Ger­many has widened the scope of its in­vest­ment con­trol to in­clude nu­mer­ous life sci­ence com­pan­ies. The amend­ments to the For­eign Trade and Pay­ments Or­din­ance ("AWV")...
21 June 2018
CMS ad­vises AXA In­vest­ment Man­agers - Real As­sets on £650 mil­lion sale...
In­ter­na­tion­al law firm CMS has ac­ted for AXA In­vest­ment Man­agers - Real As­sets (“AXA IM - Real As­sets”), the lead­ing real es­tate port­fo­lio and as­set man­ager in Europe, on its agree­ment, on be­half of cli­ents, to sell Rope­maker Place, a prime of­fice build­in