"The variety of funds that these lawyers are involved in means we very rarely have a question that they haven't answered before."
Over 900 fund managers from more than 50 countries use Ireland as part of their fund activities, 17 of the top 20 global asset managers have Irish domiciled funds and there are over 3,500 funds (and sub-funds) based in Ireland with total net assets of in excess of €2 trillion (source - Irish Funds). Our market-leading Fund Finance practice, together with our Asset Management and Investment Funds group, act for 31% of Irish-domiciled funds by assets under management (source - Monterey Insight Ireland Fund Report 2020).
As Ireland has been a centre of excellence for the investment fund management industry for the past 30 years, our Fund Finance practice has built up extensive knowledge and experience in acting for leading fund sponsors, investment funds and lending banks across all elements of fund finance. We assist our clients by guiding them through the issues involved in providing finance to different forms of Irish investment fund entities including ICAVs, Unit Trusts, Investment Companies, REITs, IREFs, SPVs, Limited Partnerships and CCFs. We are often asked to undertake due diligence on investment fund borrowers and to advise on the appropriate form of security to be implemented when providing finance to the entities mentioned above.
We also advise on NAV facilities (including hybrid variations) and portfolio level financings as well as secured and unsecured subscription (or capital call) facilities to bridge capital calls, provide working capital and/or make investments. These facilities will often be governed by English or New York law and we are increasingly being asked to implement such arrangements under Irish law.