In recent months, A&O Shearman‘s cross-border firepower has been evidenced by a number of multijurisdictional fund formations. The team regularly deploys its transactional and operational real estate fund expertise on behalf of institutional investors and sovereign wealth funds. Matthew Huggett is noted for his activity on fund-based litigations and has helped his clients raise billions of dollars through fund establishments. Nick Williams advises high-profile investment firms and asset managers on joint ventures, ranging from programmatic or single asset funds, to funds of one. Dominic Von Wulffen assists with the structuring and establishment of real estate funds, illiquid asset funds, and joint ventures. Beyond her work concerning the structuring of bespoke real estate funds, Emma Danforth is noted for her considerable regulatory experience.

Clifford Chance LLP combines real estate, private equity, and debt expertise to advise investors on key structuring issues. The firm also boasts considerable secondary transaction experience and is a key point of call for GP M&A. Gerard Saviola strengthens the firm’s multijurisdictional offering, advising on real estate fund formation in New York, Paris, and Hong Kong. Alexander Chester brings distinct knowledge of carried interest and co-investment arrangements to the practice, while Jonathan Bray notably advises on flagship real estate equity and debt funds. Lily Marcel is reputed for her knowledge of open-ended funds and a deep understanding of sustainable finance and relevant ESG issues. Vishal Mashru's broad practice encompasses multiple asset classes, green funds, complex GP-led transactions, as well as portfolio M&A.

Leading fund managers, institutional investors, and high-profile sovereign wealth funds all regularly turn to CMS for significant and strategic work. The group is noted for its work in sustainable investment strategies, working with multiple funds aiming to facilitate net-zero transitions. Co-head Amanda Howard regularly advises on the structuring of and equity raising for real estate funds. Darren Stolzenberg works with clients at all stages of the fund lifecycle, covering open and closed-ended funds. Through her busy funds and indirect real estate practice, Victoria Henry works with institutional investors who are looking to invest in the UK and EU property markets. Patrick Groves has amassed considerable experience in the establishment and operation of open and closed-ended real estate funds. Justin Coaley focuses on high-value transactions, often concerning student accommodation and logistics assets. Other key figures include William Lawrence, whose workload includes private funds and joint ventures investing in real estate.

Goodwin has an impressive reputation for representing some of the world’s largest private equity real estate firms in fund formation and high-value transactions. The team’s breadth is evidenced by its closed-end, evergreen, and open-ended fund capabilities. With more than 25 years of experience in the field, Justin Cornelius is well equipped to deal with unlisted closed and open-ended real estate funds and high-value joint ventures. David Evans bolsters the firm’s international capabilities, being skilled with fund structuring and investments across a number of jurisdictions. Clients welcome Bhargavi Mudakavi‘s advice concerning fund establishment and joint ventures in the private equity, real estate, and property debt sectors, while Niall Dickson combines real estate knowledge with a deep understanding of the venture capital market.

Reputed for its market-leading, wider investment funds offering, Kirkland & Ellis International LLP fields a strong team of solicitors with deep specialist knowledge of the real estate funds market. The team’s international scope is noteworthy, working with a client roster which spans Europe and beyond. Jonathan Tadd is key to the team’s representation of sponsors and investors regarding the structuring, formation, and operation of private real estate funds. Able to advise across various structures and strategies, Paul Sampson continues to help clients raise billions of dollars in commitments from investors. Louisa Cobbe complements the practice with her substantial knowledge of co-investment and joint venture structures. Catherine Gokah‘s portfolio of work includes infrastructure, real estate, and debt classes. Alan Skerritt left the practice in October 2023, and Benjamin Harding left for Clifford Chance LLP in April 2024.

Linklaters LLP continues to attract major real estate fund mandates with its expert knowledge and international capabilities. The team’s enviable client list comprises top-tier real estate sponsors and significant investors across various sectors, while sustainable real estate funds and the provision of ESG regulatory advice have been growing workstreams for the group. Matthew Keogh advises on the structuring and management of funds and accounts that invest in illiquid assets; he is also noted for his capabilities in joint ventures. Rahul Manvatkar spearheads the team’s ESG focus, regularly advising on the SFDR and other funds regulations. Clare Baker provides expert knowledge of the secondaries market, acting for numerous high-profile cornerstone investors. The Luxembourg-qualified Julia Vergauwen is noted for her deep understanding of sustainable finance regulations. Both Ben Jennings and Gareth Crimp advise on the full extent of transactional and advisory fund matters.

Despite a challenging fundraising year, Greenberg Traurig, LLP‘s specialist real estate funds team has gone from strength to strength in the real estate private equity and credit space, continuing to advise clients across the full fund lifecycle. Praised as ‘hardworking, technically strong and collaborative‘, the team is also noted for its capability in secondaries. The practice benefits from the expertise of Steven Cowins, who helps to establish funds and joint ventures, as well as secure portfolio M&A deals. Marc Evan Snell is presently leading a number of the firm’s key fundraisings and investment transactions. Tom Dear centres on fund formations, acquisitions and disposals, and joint ventures. Tim Dolan, who joined the practice from Reed Smith LLP in January 2023, is noted for his experience in financial services regulation.

Jones Day's capabilities in real investment fund transactions span the tax, regulatory, and contentious aspects. The group is also equipped to advise clients at any point of the fund lifecycle, from establishment and formation through to deployment and disposal. A key name in the real estate private equity market, Alistair Grant regularly advises on the establishment and management of cross-border funds and joint ventures. John MacGarty boasts noteworthy secondaries expertise, with almost two decades of experience advising on significant secondary transactions. In recent months, Christopher Slack has worked on cross-border real estate fund transactions worth billions of dollars. Hannah Rose advises on the structuring, formation, and operation of funds, as well as assisting clients on their investments.

Working with premier real estate fund manager clients, Weil, Gotshal & Manges (London) LLP leverages its considerable private funds group to routinely advise on flagship fundraisings. The team is headed up by Ed Gander, who boasts more than 25 years of fundraising experience. James Sargent regularly leads on some of the team's most significant mandates, including multi-billion Euro fundraisings. James Bromley advises on new manager establishments, platform extensions, and GP-stake transactions, while Jacquelyn Volpe supports a litany of significant sponsors in the real estate, private equity, and infrastructure sectors. Stephen Fox is skilled at the structuring, marketing, and negotiation of real estate funds and GP-led secondaries and co-investments. Other key figures include Marc Schubert, who has deep experience regarding the financial regulatory implications of real estate fundraisings.

Noted for its working relationship with a host of sovereign wealth fund investors, Baker McKenzie LLP‘s real estate offering supports well-known sponsors, investors, and financial institutions with respect to various fund structures. Secondary transactions, real estate fund interests, portfolio and GP-led buyouts are all regular features of James Burdett‘s practice. Mark Simpson provides key regulatory expertise, as does Caitlin McErlane, who helps major asset managers navigate the UK and EU regulatory arenas. Private equity and sovereign wealth funds regularly call upon Matthew Legg for critical corporate tax advice.

Maintaining relationships with leading investment and asset managers, Bryan Cave Leighton Paisner advises on high-profile, billion-dollar transactions. The team is noted for its strength in alternative asset classes, such as real estate debt, student accommodation, and build-to-rent. Antony Grossman is well respected in the real estate fund space, acting for numerous high-profile clients and sovereign wealth funds in their role as cornerstone investors. Practice head Kieran Saunders boasts specialist knowledge of unlisted funds, joint ventures, club structures, and alternative asset classes. Chris Beaumont-McQuillan joined the practice in February 2023 from Reed Smith LLP, bringing extensive corporate real estate expertise.

DLA Piper has recently expanded its focus to include GP-led real estate funds as well as traditional investor representation. The team continues to lead multijurisdictional, high-value fundraisings as well as co-investment and joint venture transactions. Jonathan Powling routinely advises on complex acquisitions, disposals, and joint ventures in the real estate sector. Kate Binedell has specialist knowledge of fund conversions, carried interest structures, secondary transactions, and segregated account mandates. Sam Whittaker regularly advises on the establishment and operation of closed-ended funds and carried interest vehicles.

Variously praised for its 'strong knowledge' and 'commerciality and experience', Eversheds Sutherland (International) LLP excels when working with open and closed-ended real estate funds. Recent months have seen the team work on various LTAF applications and several high-profile projects for asset managers. Richard Batchelor is skilled in the establishment, listing, and restructuring of onshore and offshore investment funds. Funds, asset managers, and institutional investors all regularly instruct Stefanie Sahla-Jones. Sarah Burnside has specialist knowledge of closed-ended funds and ESG regulation. Jamie Dunlop and Camilla Spielman are also both key members of the team.

Further to the team’s preexisting sustainability and GP expertise, Addleshaw Goddard handles increasing activity relating to sovereign wealth funds and Shari’ah real estate investment structures, leading multiple significant transactions and formations in these spheres. Jan Grüter frequently assists clients with sustainability-focused funds and emerging real estate GPs. Liam Diggins leverages his corporate transactional experience to advise on indirect real estate investment and management.

Ashurst is well-equipped to advise on the establishing, investing, restructuring, and general operation of real estate funds. The team is regularly called upon to assist with leveraged and unleveraged joint ventures. Nick Goddard is skilled with the formation of debt and credit, real estate, and co-investment structures. Piers Warburton‘s long-term client relationships include leading fund managers and investors. Acting for sponsors and investors, Nicola Hopkins advises on all aspects of institutional investment products and transactions.

‘Highly skilled and reliable‘, Cadwalader, Wickersham & Taft LLP is well-versed in complex, multijurisdictional fund structures. The team regularly provides critical advice to sponsors and managers concerning secondary fundraising, M&As, and exits. The team is led by Michael Newell, who has amassed considerable experience in the establishment and reorganisation of investment vehicles, particularly regarding real asset and credit funds. Jack Kelly is noted for his capability concerning private fund structures and public investment companies.

The Gowling WLG team regularly advises on large and complex transactions in the retail, industrial, private rental, and specialist supported housing sectors. Within these sectors, the group is active in the establishment of investment structures as well as acquisitions and restructurings of existing funds. Sharon Ayres is noted for her deep understanding of real estate investment transactions and negotiation abilities. Oliver Riley‘s practice centres on the launch, structuring, and reconstruction of closed-ended funds. Micky Yang combines corporate and real estate expertise to advise clients on inbound and outbound property investments and disposals.

For listed funds, Herbert Smith Freehills LLP  is home to 'a very hard-working team', which is 'able to work on complex issues and deliver a quality product in a timely manner'. Key names include Stephen Newby and the hugely experienced Jonathan Blake, who serves as head of international private funds strategy.

Working with a wide array of onshore and offshore clients, Stephenson Harwood undertakes a broad range of real estate fund work, from structuring and launch through to operational aspects and acquisitions. William Saunders acts for the firm’s key offshore fund and investment manager clients on their portfolio acquisitions. Simon Brading‘s active practice focuses on large development, investment, and funding transactions.