As a ‘very knowledgeable team with a great understanding of key market sectors’, Brodies LLP‘s multidisciplinary offering has a vast geographical reach that attracts instructions from marquee clients, particularly handling fund formations for investment managers as well as fund finance work. A large proportion of the team’s work is linked to the infrastructure space, and its client list includes a range of large public sector pension funds and major financial institutions. Andrew Akintewe is a ‘phenomenal funds lawyer’ who ‘consistently delivers commercial advice backed with sound analysis on fund establishments across different asset classes’. Paul McLaughlin is highly reputed for his knowledge of SLPs, and Alan Knowles is a key port of call for financial institutions seeking fund finance advice, while Bob Langridge provides fund structuring, cross-border and international tax expertise. Matt Goldbeck  has supported on a wealth of fund formation and fund closing mandates.

‘One of the leading funds practices in Scotland’ with ‘near-unrivalled levels of experience in the investment funds space’, Burness Paull LLP covers the structuring, formation, closing and operation of large, flagship funds, with particular specialism in Scottish limited partnerships and carried interest structures. The firm is also broadening its investor-side focus, handling a number of substantial equity investments into a range of focused funds. The ‘knowledgeable, responsive and pragmatic’ Paula Kennedy has a far-reaching practice and is the key relationship partner to a number of investment managers and private equity houses. Andrew Christie is equally equipped to advise on complex security structures and GP side fund structuring and formation – an area in which Ruaridh Cole also demonstrates particular expertise. Conor McLaren is a key contact for investment managers and investors.

CMS is one of the preeminent legal advisers to a range of regulated and unregulated funds, demonstrating activity on major fund establishments, mergers, restructurings, investments, and closing issues. The group also advises on fund changes acceptable to the FCA, ethical and sustainable fund work, and FCA investigations. Open-ended fund specialist Karagh Gilliatt leads the team and is frequently instructed by fund management houses. Co-head Colin Lawrie has recently overseen the winding up of a variety of Scottish Limited Partnerships and European property funds, while Aidan Campbell has notable strength in the authorised fund space, advising on establishment, termination and compliance issues. Sanaa Akhtar is another key name for UK authorised fund work, particularly with regard to open-ended funds.

Recently advising on financial regulatory and governance mandates, Dentons acts for a variety of clients, with a particular emphasis on closed-ended listed funds; the team is also expanding its fund formation offering. Team lead Claire Armstrong is the first port of call for close-ended listed funds, and also assists fund managers and sponsors with regulatory and transactional matters. Stuart Fitzsimmons is well-regarded for his strength in financing transactions, while Owen McLennan has recently advised on impact investing and fund establishment issues for first-time managers. Sarah Wylie provides further regulatory, advisory and transactional capabilities, while Sam Smart has been involved in investment and merger mandates.

Praised for its ‘cross-departmental expertise’ and ‘great depth of market awareness’, Pinsent Masons LLP cover the full spectrum of fund work, and combines a strong institutional investor practice with top-end fund structuring, establishment and regulatory expertise. Noted as a ‘trusted pair of hands’ with ‘a wealth of experience’, David Young heads up the team and has a practice that spans both advisory and transactional issues. Elaine MacGregor goes ‘above and beyond to deliver a high-quality service’ and acts for an array of institutional investors on transactional matters, with deep experience engaging with impact funds and emerging markets. Rebecca Clark has ‘extensive market experience and great technical understanding’.