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Legal & compliance advisory

Robin AI launches contracts report builder

Robin AI Reports automatically generates and reviews legal contract reports

Travers Smith adds to retailisation expertise

Joel Grossmark, formerly European legal counsel at Blackstone, joins the firm as a partner

FIS launches climate risk financial modelling tool

SaaS offering to support clients with assessing, reducing and reporting risks tied to climate change

Fiscally fit

Cap table complexities and potential solutions

Gibson Dunn welcomes tax partner

Formerly with Weil, Gotshal & Manges, Benjamin Rapp joins the firm’s tax practice group across Munich and Frankfurt

Passthrough welcomes head of financial crime

Mark Mangion formally joins full-time after spending the last two years in the role of financial crime adviser

Snoop dog: Who watches the regulators?

The Drawdown evaluates different proposals to regulate the FCA and PRA

Leverst launches relationship tracker

Company aims to shine light on dynamics of LBO transactions in the DACH market

Ogier adds to fund expertise in Dubai

Dominic Athwal relocates to Dubai and receives promotion to counsel

Skadden welcomes financial regulation partner

Formerly with Linklaters, Sebastian Barling advises on regulatory aspects of M&A, investment funds, PE funds, insurers and banks

Cost cutters: Four tips for operational resilience

Ace & Company’s managing partner Sally Beh says careful cash management is a crucial step in trying times

HSF launches ESG reporting tool

Law firm’s tool to analyse corporate structures and create reports including legal advice on reporting obligations

White & Case expands Luxembourg tax practice

Ex-Allen & Overy counsel Guilhèm Becvort specialises in cross-border tax law for private equity, debt and real estate strategies

White & Case add funds partner in Luxembourg

Emmanuel Gutton joins from the Association of the Luxembourg Fund Industry

Putting the ‘private’ back into take-privates

Decision by UK Takeover Panel helps private equity firms by removing the obligation on public companies to disclose bidders

Goodwin and Passthrough deepen partnership

Tech provider's e-subscriptions offering integrated into law firm’s services

Reframe launches debt advisory

The advisory has partnered with Sandeep Pradhan and his business Liverpool Street Capital Advisors

FCA gets ready to scrub

Financial watchdog’s anti-greenwashing rule is effective from 31 May 2024; The Drawdown checks it to make sure PE ticks all boxes

Corlytics snaps up Deloitte regtech platform

Following investment from Verdane, the company expands its geographic reach and augments service capabilities

Strength trAIning

Three ways to nurture generative AI to enhance operational resilience strategies

The FTC’s non-compete ban and its consequences

If you or your loved ones have been incentivised to remain at your current employer, you may be entitled to compensation

Clifford Chance promotes Dunne to partner

Stephanie Dunne has been at the firm for a decade, since completing her training contract

Ogier welcomes McManus into partnership

Matt McManus joined the firm in 2021 as a managing associate

AIFM-P

The ‘P’ stands for: “potential for wider reform in the FCA’s AIFMD review”

EQT appoints legal director

Formerly with Invesco, StepStone and BlackRock, Archanna Ramu will be responsible for client relations and capital raising

Hamilton lane ‘pushes back’ on NAV loans

“We want to ensure the right guardrails are in place to protect LPs,” says managing director John Stake

HNWI hurdling

The UK may have reversed its changes to the HNWI regime but the conversation seems far from over

Debevoise appoints funds partner

Goodwin’s Shawn D’Aguiar makes the switch after seven years

Bain & Company’s Alexander Schmitz succeeds Christophe De Vusser

Schmitz will assume the role of private equity EMEA practice lead

DunPort appoints GC

Niamh O’Reilly joins the private debt asset manager after nine years at corporate law firm McCann FitzGerald

FCA proposes permanent bundling of research payments

The consultation aims to make concrete the potential to pay for investment research and trade execution simultaneously, diverging from the EU’s MiFID II legislative framework

Compliance issues cost GPs mandates, says Ocorian

Study from Ocorian and Newgate Compliance additionally shows increasing levels of conflict between fund management and compliance teams

Addleshaw absorbs KWM Madrid office

The team of 60 lawyers will be led by KWM Madrid managing partner Roberto Pomares

Verdane backs Corlytics

Fresh funds to support organic growth, M&A activity and investments in “intelligent offering”

Zanders acquires RiskQuest

Risk management consultancy expands its presence in Europe by absorbing RiskQuest’s Amsterdam HQ in addition to 11 other international offices

ORC and Dasseti partner up

The investment advisory firm aims to improve its ODD services with the partnership

‘This is where things have substantially changed’

The Drawdown catches up with Jonathan Blake, the inventor of the LP model and the rules on VC trusts, to discuss fund trends, retailisation and regulation

Ogier appoints Luxembourg funds partner

Hervé Leclercq will advise PE, real estate and infrastructure fund managers on fund structuring, operating and marketing

Behind the multiple

Calculating carried interest with TVPI multiples means clear definitions of contributions and distributions are needed, a Colmore case study finds

Mayer Brown expands tax practice

Sam Riesenberg joins after 12 years at KPMG US

Oaklins NL launches valuation advisory

Firm welcomes new partners Tijn Bastiaans and Costas Constantinou

ATOZ acquires Deveco

Acquisition to increase the range of services offered

Whatever happened to ESG-linked loans?

As tools for ESG transformation they seem to have been abandoned but they still have their place

Macfarlanes promotes six

The round of partner promotions includes that of corporate tax lawyer Joe Robinson

JTC Law appoints head of investment funds and corporate

Leanne Wallser has two decades of experience practising Jersey Law

Katten appoints three to investment management office

Thomas Laurer, Ryan Hansen and Daniel Lewin join from Curtis

Corvus launches administration business

The company has added fund administration services to its existing legal and compliance business

Herbert Smith Freehills appoints ESG leadership across US, UK and EMEA

Partner Heike Schmitz to co-head the firm’s ESG EMEA practice together with partner Iria Calviño, among other appointments

Domos FS partners with Cascade

Partnership will allow Domos FS’s clients to rely on Cascade for AML and KYC matters

RobinAI integrates Claude 3

The AI legal chatbot has partnered with Anthropic since 2022

White & Case appoints funds partner

Formerly at Ropes & Gray, Lavanya Raghavan to join the firm and reunite with former colleague Emily Brown

Rede Partners appoints head of strategic capital advisory

Riccardo Villa will lead the advisory’s alternative liquidity solutions services

European Commission rejects ESMA’s ELTIF 2.0 draft RTS

Liquidity mechanisms have been revised to make it easier to set up evergreen funds and to better attract individual investors to private markets, but the proposals still divide the investment community

FCA increases AML oversight

Recipients of the regulator’s recent Dear CEO letter have six months to perform a gap analysis

Kirkland appoints ESG partner

Rebecca Perlman joins after a 12-year tenure at Herbert Smith Freehills

Taylor Wessing appoints fund formation partner

Shervin Shameli was formerly co-head of Reed Smith’s private funds formation group

Kroll launches two fraud solution tools

Risk Analytics Monitor and Managed Compliance Software use data analytics and AI technology to help automate risk management workflows

The Third Party

The borrowers and lenders of fund finance have credit rating company…

Bischoff succeeds Peel as head of finance at Travers Smith

Charles Bischoff (left) has been a partner since 2012; Peel (right) to remain at the firm and continue to ‘play a significant role’ in the practice

Tyrannosaurus Regs?

How are global regulators scrutinising AML procedures and is that oversight increasing?

Economic symptoms of longevity

Addleshaw Goddard’s latest Funds Trends Report showcases the effects of longer fundraising and investing periods on the economics of the GP-LP relationship

Comment: What you need to know about ELTIF 2.0

Karma Samdup and Vicki Odette, partners at Haynes & Boone, examine how ELTIF 2.0 aims to unlock private market access for retail investors

Next stop – carried interest

Liquidity event delays are having an effect on waterfall calculation models

ILPA appoints inaugural general counsel

Appointment comes amid association’s legal battle with PE trade bodies regarding preferential treatment under SEC’s Private Fund Rules

Seven out of 10 fund managers received AML fines in last two years

Ocorian’s latest survey finds alternative investment firms concerned about increasing AML risks

Borne but not raised

A tight fundraising and deal-doing environment has GPs pondering how to structure aborted deal costs

Ogier expands Luxembourg fund finance team

Delphine Gomes is a banking and finance counsel with experience in fund, leveraged and real estate financing

ESG: The fund-of-funds perspective

Once removed from the underlying portfolio, this type of LP is focused on private equity’s journey rather than instant compliance

Ocorian acquires Bovill

Fund administrator adds regulatory consultancy firm into its compliance offering

Apollo appoints ESG counsel

Previously a legal secondee at the firm, Angus Brown joins from Simmons & Simmons

Comment: Court controversy

Matthew Pincus, international counsel at Debevoise & Plimpton, warns that a recent court decision increases risk for non-US funds active in the US

Proskauer adds private funds partner in London

Fund formation specialist for credit strategies, James Oussedik, joins from Sidley Austin

Ontra further builds on GPT-4 functionality

Company aims to accelerate expansion into more document types and launch additional features

LeadingMile partners with Qashqade

The partnership aims to increase European GP access to automated waterfall calculations and cap-table monitoring

Robin AI launches contract defined-term checker

The additional feature means contract terms can be automatically verified and located within a document

The carrot in addition to the stick

FCA’s proposed regime on non-financial misconduct shines light on firms’ workplace culture

Glendower Capital promotes legal managing director

Kate Simpson came to the firm almost two years ago as legal director for transactions

Kroll makes Lux MD appointment

Elena Moisei joins from EY to lead the firm’s work with alternative investment fund managers in Luxembourg

Intelligent Legal Solutions enters market with side-letter management solution

Company aims to automate side-letter management for law firms and keep billable hours for private equity firms down

The ops ‘n’ regs of wealth managers

Amid traditional LPs maxing out their allocations, PE looks to wealth managers to fill the gap – but they come with distinct requirements

Genesis Capital appoints legal counsel

Petr Müller joins from law firm Dentons

Accenture acquires Impendi

Deal for sourcing and procurement services provider is a bid to further build out Accenture’s private equity capabilities

Ecovadis adds Vitals to IQ Plus platform

Vitals is a questionnaire aimed at helping businesses manage supply chain sustainability risks

Dawn promotes four

In the ops team (pictured), the firm has promoted Adina Goga to director of legal and Gamila Hassan to talent acquisition lead

Goodwin appoints credit funds partner

John Anderson to join the firm’s London team and focus on credit fund strategies

What the AI?!... Ropes & Gray

Partner Rohan Massey and counsel Edward Machin at Ropes & Gray discuss how AI regulation might develop, along with key legal considerations for fund managers contemplating the technology’s adoption

Park Square promotes legal counsel

Phanne Yang came to the firm two years ago as a legal associate

AC Christes & Partners moves to Munich

Firm aims to offer transaction advisory, audit, tax, valuation and post-merger integration services from its new location

A&M Tax appoints ASEAN tax lead

Singapore-based Shantini Ramachandra was previously a partner at Deloitte

Goodwin expands Luxembourg funds team

Baker McKenzie’s Julien Schraub and Deloitte’s Céline Moille join as counsel while Philip Spilberg is promoted in the private investment funds practice

Park Square makes round of promotions

Andrew Haywood is now COO, Luke Varley is general counsel and Matthew Maguire assumes the role of CFO

ACA’s Andrew Poole moves to Kroll

Director of compliance has spent five years at ACA Group focusing on advising the PE and private credit sectors

Robin AI secures $26m

Funding aims to expand legal AI tech provider’s presence in the US, inaugurate its presence in Asia Pacific and increase AI engineer headcount

Operational utopia

If operations professionals made all the decisions, what would the perfect PE firm look like?

The UK’s nice green labelling machine

Response to FCA’s SDR positive as regulatory arbitrage remains around applicability to overseas funds, portfolio management and practice of its highly anticipated anti-greenwashing rule

Roschier expands finance and restructuring team

Björn Hård af Segerstad joins the law firm as counsel for financial regulation

Praxio appoints head of banking and finance

Pinsent Masons fund finance director Michael Mbayi joins Luxembourg law firm

Kroll launches risk assessment tool

Offering includes portfolio monitoring and diligence, streamlined data collection and benchmarking

Carbon Accounting Alliance launches

Group of 35 organisations represents emissions of 24,000 companies

Home game Sweden

A change in tax legislation and ethical considerations are leading Swedish PE firms to onshore their funds

Profile: Martim Avillez, Limerston Capital

The COO and founding partner discusses setting up the firm’s operations, combining them with his investment duties and navigating difficult times

JTC acquires Blackheath

Fund administrator expands its ManCo services for UK-based funds

Magic ID secures €350k

KYC startup aims to use the funding to launch its range of ID verification tools in the UK and the EU

Southern Europe: Structures to suit all tastes

Variety is indeed the spice of life when it comes to fund 
domiciles across Southern Europe

Comment: Pillar Two ex post

Asset managers need to carefully consider the implications of Luxembourg’s proposed implementation of the OECD’s Pillar Two rules, argue Bastien Voisin, Yann Ricard and Olha Polishchuk of Goodwin

Carta launches waterfall calculation tool

Company aims to support with LP reporting, M&A deal impact and equity value estimations

Firm identity

A tight fundraising environment and ESG fund naming conventions warrant a closer look at the names of private equity entities, writes Matthias Plötz

Apperio’s CEO steps down

Founder Nicholas d’Adhemar created the company in 2013 to improve the management of legal costs for PE firm in-house legal teams

Ontra integrates GPT-4

The large language model will be incorporated into the firm’s AI engine Ontra Synapse

LISTEN: Tick-tock. Time to tokenise?

Tokenisation use cases for private markets

AIFM-Done

As the EU concludes technical discussions around the AIFMD review, The Drawdown takes stock

Must NAVs

The benefits and risks of NAV financing in a liquidity drought

Driftwood Climate comes ashore

Boutique consulting firm to advise on climate strategy, decarbonisation and climate impact

Comment: Burden of proof

Amelia Stawpert and Alex Jones of Hogan Lovells analyse the impact of the ECCTA on UK limited partnerships

Ropes & Gray’s Emily Brown joins White & Case

Brown joins as a partner in the law firm’s global M&A and PE industry group

Deus Group launches Murphy

Founder Varun Khullar walks The Drawdown through his merger-filing tool, which aims to support GPs and deal lawyers in their deal completion process and associated regulatory filings

Apex acquires Watermark

The fund administrator has infiltrated the Portuguese market

Dillon Eustace appoints two to asset management practice

Laura Goonan and Hannah Fenlon join as partners in the practice in Dublin

Ropes & Gray promotes Maj to counsel

The lawyer’s asset management team promotes Dorota Maj as one of 20 lawyers making the move to counsel across the firm

Robin AI plugs into Microsoft

Partnership sees Robin AI’s contract Copilot plugged into Microsoft Word