Clifford Chance accompanies clients across the life cycle of their fund structures, including those domiciled in Germany, Luxembourg and further afield. The practice offers expertise in a broad variety of asset classes, with notable strength in handling, inter alia, private equity, real estate and infrastructure funds. Core members of the team include Marco Simonis, whose expertise spans both the structuring of funds and associated tax arrangements, and Sonya Pauls, who handles fund formations in the private equity and VC arenas. Jan Grabbe adds further private equity expertise and is also well versed in the real estate, energy and private debt fields, advising on both regulatory and tax matters. Andrius Bielinis is the key contact for tax matters impacting the investment funds space, while Gregor Evenkamp is called upon by fund managers requiring assistance with matters of European capital markets and regulatory law.
Investment funds in Germany
Clifford Chance
Praxisleiter:
Jan Grabbe; Sonya Pauls; Marco Simonis
Weitere Kernanwälte:
Andrius Bielinis; Gregor Evenkamp
Referenzen
‘In particular, the fast response time and good availability as well as the practical approach should be emphasised. The approach and the people fit in very well with our own corporate philosophy and approaches.’
‘Jan Grabbe should be emphasised because he brings a very high level of expertise in his field and his approach to communicating with clients and finding solutions is better and often more pragmatic than that of his competitors.’
Kernmandanten
eevolve
DI Technology Fund I
Mercer Private Investment Partners
Wachstumsfonds Deutschland
Golding Capital Partners (Luxembourg) S.A.
Maguar Capital
Partners Group
CONREN Land KVG
Partners Group
Lakestar
Highlight-Mandate
Linklaters
Linklaters‘ funds specialists work closely with the firm’s real estate, tax and M&A teams to provide an all-encompassing service to its fund manager clients, overseeing fund formations and handling their acquisitions and divestments. Under the purview of Markus Wollenhaupt, the team has been active in the private credit and infrastructure funds spaces, advising on both L.P. and G.P. structures. Wollenhaupt himself specialises in the structuring of funds targeting illiquid assets, working with private equity and real estate managers on the launch of new investment vehicles. Providing further expertise in these fields is Olena Tokman, who advises institutional investors on the structuring of funds and subsequent transactions.
Praxisleiter:
Markus Wollenhaupt
Weitere Kernanwälte:
Olena Tokman
Kernmandanten
Affinius Capital
Allianz Capital Partners
Aurelius
BNP Paribas REIM
CBRE
Commerzbank
DWS
Fosun
GARBE
Genesta
Hines
KKR
Macquarie
Niam
Principal Real Estate
TUI
Union Investment
Highlight-Mandate
- Advised Macquarie on the sale of all shares in Macquarie’s global core/core+ real estate platform, GLL Real Estate Partners, to an investment vehicle held by GLL’s existing management.
- Advised an insurance company on the complete restructuring of a regulated single investor fund structure, investing in real estate project developments, including insolvency and tax advice.
- Advised an international asset manager on the structuring and documentation of a new Luxembourg-based property debt fund.
Dechert LLP
Dechert LLP‘s Munich-based funds team is well positioned to leverage the firm’s wider network to advise on the structuring and launch of funds targeting myriad asset classes, ranging from real estate to private equity and credit. The practice’s members are well versed across numerous fund structures, including managed accounts, funds of funds and master-feeder structures, while also helping clients navigate regulatory regimes and tax challenges. Heading the team in tandem are Angelo Lercara, whose expertise covers both the structuring and marketing of funds offerings, and Hans Stamm, a specialist in tax matters concerning private funds.
Praxisleiter:
Angelo Lercara; Hans Stamm
Weitere Kernanwälte:
Michael Bayr
Kernmandanten
Crescent Capital Group
JP Morgan
Allianz Global Investors GmbH
Robus Capital
Stepstone Group
Prime Capital
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King & Spalding LLP
King & Spalding LLP counts a number of noted real estate fund managers among its clients, providing them with comprehensive advice from fund structuring and launch through to transactions and their ultimate liquidation. The firm is also able to assist clients with regulatory challenges across a range of German and European funds regimes, while also being increasingly active in the private equity and infrastructure fields. Alexandra Weis is experienced in overseeing the set-up of closed and open-ended structures, and also oversees the regulatory aspects of fund transactions. She heads the team alongside Andreas Böhme, who is able to assist fund manager clients secure financing for their acquisitions and oversee the transactions themselves.
Praxisleiter:
Alexandra Weis; Andreas Böhme
Weitere Kernanwälte:
Axel Schilder; Cüneyt Andac
Referenzen
‘Technically excellent, reliable, punctual, and solution oriented. Consulting that focuses on the client and their needs.’
‚King & Spalding LLP impresses with its international orientation, in-depth industry expertise, and strategic consulting skills at the highest level. Particularly noteworthy is its ability to resolve complex cross-border issues efficiently and in a client-focused manner. Potential clients should know that they are dealing with a globally networked team that combines legal excellence with a clear focus on commercial objectives. Compared to other firms, King & Spalding impresses with its international presence, its responsiveness, and its ability to deliver reliable results, even under extreme pressure.‘
‚The people I work with at King & Spalding are characterized by exceptional professionalism, international experience, and a high level of commitment. What sets them apart from others is their ability to quickly grasp complex issues, think in a solution-oriented manner, and always maintain a client focus. I particularly valued the clear communication, the commitment to collaboration, and the strong sense of responsibility shown by each individual.‘
‘The firm stands out from other law firms due to its combination of professional expertise, personal commitment, and innovative approaches. They prioritise developing individualised solutions for their clients and maintaining transparent and clear communication.‘
‚The team has extensive experience in investment law and regulatory laws, and always works in line with the latest case law. The lawyers who advise us are technically excellent and empathetic, and are committed to achieving the best possible results for us, their clients.‘
‚Innovation plays a central role in this. The firm uses modern technologies, such as digital document management, online appointment scheduling, and secure communication platforms, to streamline processes and increase transparency. Compared to other law firms, this one provides individualised support, quick responses, and innovative tools.’
‚First of all, they are extremely competent and have in-depth expertise in their respective fields. But what really sets them apart is their passion for their work and their commitment to always finding the best solutions for us as client. They are reliable, responsible and work with great care to ensure the highest quality standards.‘
‚The team is a very dynamic. It has a strong focus on ESG and collaboration.‘
Kernmandanten
AEW Invest GmbH
Ares Management UK Limited
Commerz Real Investmentgesellschaft
Hannover Leasing
HANSAINVEST Hanseatische Investment GmbH
PATRIZIA
Savills Fund Management
Tishman Speyer
VALUES Institutional Invest GmbH
Wertgrund
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POELLATH
POELLATH is the first port of call for a number of German fund managers active in the private equity and venture capital fields, advising them on the structuring of new investment vehicles in addition to helping them ensure compliance with fund regulations and German and European law. The group is headed by Jens Steinmüller, whose practice encompasses both regulatory and tax issues, and Peter Bujotzek, an expert on the structuring of alternative investment funds across a range of asset classes including private equity, credit and real estate. Amos Veith offers further regulatory expertise and is also well versed in transactions on the secondaries markets.
Praxisleiter:
Jens Steinmüller; Peter Bujotzek
Weitere Kernanwälte:
Amos Veith
Referenzen
‘We have worked closely with Poellath’s investment fund practice on a range of complex real estate private equity matters. Their performance has been exceptional across the board. What sets their practice apart is a rare combination of deep technical expertise, commercial acumen and a truly client-centered approach.’
‘Peter Bujotzek stands out as a partner not just for his legal skills, but for his responsiveness, pragmatism and ability to distill complex issues into clear, actionable advice. He is a true business partner rather than just external counsel.’
‘Highly reputed law firm in Germany with strong international focus. The firm showcases its expertise in various industry-leading events and seminars across Germany which presents an added value for clients.’
‘Peter Bujotzek: a leading investment fund lawyer in Germany who combines deep expertise in all legal, regulatory and tax matters relevant to investment funds. His service is comprehensive and best in class. He is very pragmatic and solution oriented and has implemented this approach within all of his team. If it’s true that every client gets the lawyer it deserves then we are truly honored.’
‘The team has a deep understanding of the needs of private equity funds and its investors with respect to structuring and tax consideration.’
‘Leading in fund formation.’
‘High customer orientation, good GP & LP understanding.’
Kernmandanten
Acton Capital Partners GmbH
Advent International
AltamarCAM Partners GmbH
Ampega Asset Management GmbH
Apax
BRIGHT CAPITAL
Capiton AG
Capnamic Ventures GmbH
ECONA Management GmbH
EIF European Investment Fund
EMERAM Capital Partners GmbH
Extantia Capital
Maxburg Capital Management GmbH
Ruhrgründer Management GmbH
Senovo Capital Management GmbH
SIGNAL IDUNA Gruppe
Sophora Unternehmerkapital GmbH
Venture Stars
Highlight-Mandate
- Advised Senovo on fund structuring, contract documentation and negotiations with investors for Senovo Capital Fund IV.
- Assisted EMERAM Private Equity Fund II SCSp with fund structuring and fundraising in the DACH region.
- Advised Extantia Capital on fund structuring, distribution and the admission of investors for the first closing of Extantia Climate Flagship II.
YPOG
Both private equity and venture capital fund managers instruct YPOG when they look to structure new investment vehicles or continuation funds, with expertise in setting up funds domiciled in Germany and Luxembourg. The team is headed by Lennart Lorenz, whose practice spans the gamut of fund structuring and regulatory issues, including licensing matters, and with a focus on private equity, credit and VC funds. Jens Kretzschmann adds experience in real estate funds to the firm’s lineup, also advising funds that focus on investments in crypto-assets, while Julian Albrecht‘s practice combines both fund structuring and restructuring expertise.
Praxisleiter:
Lennart Lorenz
Weitere Kernanwälte:
Jens Kretzschmann; Julian Albrecht; Niklas Ulrich
Referenzen
‚Very experienced, goal oriented and great to work with.‘
‚Julian Albrecht – great mix of risk averse and pragmatic.‘
Kernmandanten
42CAP
Cherry Ventures
Amberra
Vsquared Ventures
Armira Growth
FLEX Capital
Armira
Capmont
Apollo Health Ventures
Greenfield Capital
TPG Capital
Yttrium GmbH
Moonfare
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CMS
CMS advises a range of fund managers and investors on issues affecting the structuring of private equity, credit and venture capital sectors, including fund of funds, and is also well versed in overseeing fund restructuring projects. Alongside its structuring work, the team also handles fund-led transactions across multiple asset classes. The core team consists of Tillman Kempf and Daniel Voigt, both of whom specialise in the set-up of open and closed-ended funds, with the former also specialising in tax matters, and Sebastian Sedlak, who alongside his fund structuring expertise is well versed in the regulations governing insurance sector investments.
Praxisleiter:
Tillman Kempf; Sebastian Sedlak; Daniel Voigt
Weitere Kernanwälte:
Laura Bungart
Referenzen
‘I greatly appreciate Daniel Voigt’s commitment, pragmatism, and deal orientation.’
‘Profound knowledge in legal, tax, regulation issues in Germany and Luxembourg – In our case also profound track record related to real estate funds and complex investment structures – Pragmatic solution approach – Can „translate“ complex issues in a way that it is understandable for investors.’
‘Daniel Voigt – understands complex structures; helps to find pragmatic solutions and to mediate in negotiations; wide range of knowledge besides legal issues (tax, regulation, etc.).‘
Kernmandanten
Joh. Berenberg, Gossler & Co. KG
Aquila Capital
Encavis Asset Management
Universal Investment
KENFO – German Nuclear Waste Management Fund
DEKA Investment
WillisTowerWatson
Highlight-Mandate
- Advised Joh. Berenberg, Gossler & Co. KG on the launch of a credit fund with an investment focus on renewable energy sources within an existing umbrella in the form of an S.A.
- Assisted Universal Investment Gesellschaft mbH with the rollout of the Future Fund, with which the federal government intends to promote investment in start-ups.
- Advised KENFO on the development of its ESG strategy for the real estate asset class.
Debevoise & Plimpton LLP
A number of noted private equity sponsors rely on Debevoise & Plimpton LLP for advise on SFDR, AIFMD and a variety of other regulatory regimes governing the establishment and operation of funds domiciled in Germany and Luxembourg. Taking the lead on matters of European fund regulation is Patricia Volhard, who splits time between Frankfurt, Paris, London and Luxembourg and is also well versed in assisting sponsors with the structuring of investment vehicles. Heading the team alongside Volhard is Jin-Hyuk Jang, whose fund structuring work spans private equity, real estate and credit, amongst other asset classes.
Praxisleiter:
Patricia Volhard; Jin-Hyuk Jang
Referenzen
‘Very strong understanding of relevant considerations of both sponsors and investors.’
‘Patricia Volhard is excellent. She is commercial, and her expertise is both broad and deep.’
‘Outstanding long-term experienced and stable team around Patricia Volhard and Jin-Hyuk Jang. from a professional and personal view a pleasure to work with. ’
Kernmandanten
Apera
Ardian SAS
Asante Capital Group
Deutsche Beteiligungs AG
Hanover Finanz GmbH
Intermediate Capital Group
KKR
LGT Capital Partner
Highlight-Mandate
- Provided ongoing regulatory and corporate advice to Adams Street Partners’ German subsidiary after licensing as an investment firm.
- Advised Apera Asset Management GmbH on structuring funds for a German institutional investor base and also on AIFMD and MiFID compliance matters.
- Advised Ardian Access Infrastructure Fund on the disclosures of the fund under SFDR.
GSK Stockmann
GSK Stockmann provides an all-encompassing service to fund managers and sponsors looking to structure investment vehicles targeting private equity and infrastructure assets. Alongside this, the firm is also able to support fund sector clients implement governance systems and maintain compliance with the AIFMD, ELTIF and MiFID regimes, among others. Heading the team are Robert Kramer, whose focus lies in the structuring of open and closed-ended funds and the advising of investors on their transactions, and Petra Eckl, a specialist in the set-up of tax-optimised investment vehicles.
Praxisleiter:
Robert Kramer; Petra Eckl
Referenzen
‚Excellent team.‘
‚Robert Kramer is very prudent, conscientious and very clever. A very important advisor and extremely important for our company. He is also very pleasant to work with.‘
‚GSK is able to adapt dynamically and complement the core client team with deep-dive experts for the relevant subject matter.‘
Kernmandanten
Real Blue Kapitalverwaltungsgesellschaft
Competo Capital Invest GmbH
Kingstone Debt Advisory
AACHENER GRUNDVERMÖGEN Kapitalverwaltungsgesellschaft mbH
Amundi Deutschland GmbH
Catella Real Estate AG
Five Quarters Real Estate AG
HANNOVER LEASING Investment GmbH
hep global GmbH
KfW Capital GmbH & Co. KG
MEAG MUNICH ERGO AssetManagement GmbH
Investment Company
Highlight-Mandate
- Advised Real Blue Kapitalverwaltungsgesellschaft on the structuring and implementation of a transfer fund for the real estate portfolio of a cooperative bank.
- Supported the Catella Group in the strategic merger of its two German subsidiaries, Catella Residential Investment Management and Catella Real Estate AG.
- Provided ongoing legal advice to Hannover Leasing Investment GmbH.
Luther Rechtsanwaltsgesellschaft mbH
Luther Rechtsanwaltsgesellschaft mbH‘s funds expertise extends to both the structuring and restructuring of investment vehicles, making use of its office in Luxembourg to assist funds domiciled there or in Germany. The team is also sought after for assistance with tax structuring matters as they relate to the operation of funds. The team is spearheaded by a trio consisting of Achim Pütz, who alongside his fund structuring work advises institutional investors on their investments, Martin Hüwel, a specialist in the structuring of funds, and Bela Jansen, whose practice is centred on the tax and regulatory regimes governing investment products.
Praxisleiter:
Achim Pütz; Martin Hüwel; Bela Jansen
Referenzen
‚Good and deep knowledge of legal and tax topics in investment funds area but also practical approach and support. Smooth combination of tax and legal advise.‘
‚Bela Jansen has a comprehensive and deep understanding of tax topics in the area of fund investments. Not only at the level of investment funds but also tax topics at the level of investors. Further, he connects legal topics and can provide comprehensive tax and legal advisory services.‘
‚In Luther, we have a very competent and capable partner in all fund-related questions, particularly in regulatory and tax matters. What we like is the very efficient communication and the quick responsiveness.‘
‚We value the experience and the ease of communication. Luther always adapts to our needs, especially in situations where we need timely feedback.‘
Kernmandanten
AMP CAPITAL INVESTORS LIMITED
AEW Invest GmbH
HanseMerkur Trust AG
HIH Invest Real Estate GmbH
Quadoro Investment GmbH
aam2cred Debt Investments GmbH
Highlight-Mandate
- Advised AEW Invest GmbH on tax and regulatory matters for acquisitions and sales of real estate assets across Europe.
- Advised HanseMerkur Trust AG on corporate, tax, employment, and regulatory matters regarding the restructuring of distribution for German and Luxembourg investment assets through a newly established distribution company for asset management firms within a major insurance group.
- Advised HIH Invest Real Estate GmbH on structuring and launching the HIH Green Energy Invest Renewables Fund.
Simmons & Simmons
Private equity sponsors and other institutional investors come to Simmons & Simmons for advice regarding the establishment of closed and open-ended structures and the corresponding regulatory regimes. Private equity, real estate and hedge fund formation form the core of practice head Benedikt Weiser‘s practice, with expertise in setting up fund-of-fund and investment platform structures. Bernulph von Crailsheim is the key contact for fund taxation matters, while Daniel Lühmann‘s practice spans both financial regulatory law and transactional work.
Praxisleiter:
Benedikt Weiser
Weitere Kernanwälte:
Bernulph von Crailsheim; Daniel Lühmann; Sabrina Schwiebert
Referenzen
‚The team at Simmons are collaborative, commercial and always on point from a technical perspective. They are clearly driven by a desire to become their clients‘ trusted advisor, and this shows in the quality of their work.‘
‚Daniel Lühmann is a real standout partner. He is responsive and really understands his clients‘ needs and commercial concerns. A great advisor to the business.‘
‚Due to the very close cooperation and collaboration between the partners, the advice is very holistic and considers all relevant aspects. This provides particularly good results for clients who do not have the relevant local expertise but come from different markets.‘
Highlight-Mandate
Greenberg Traurig Germany
Greenberg Traurig Germany leverages its expertise in the real estate field to assist sponsors looking to set up and operate real estate funds, and is also well versed in assisting with fundraising and closing for these, private equity and venture capital investment structures. Practice head Kati Beckmann handles the spectrum of structuring, regulatory and transactional matters for her funds sector clients, which include both alternative asset managers and institutional investors. Claudia Stremel takes the lead on tax structuring matters.
Praxisleiter:
Kati Beckmann
Weitere Kernanwälte:
Claudia Stremel; Peter Zingel
Referenzen
‚Always close to the client, always knows what’s going on.‘
‚This practice works for the biggest international investment funds and handles most technical challenges. Its team is highly connected, skilled and an example of reaction times and coordination.‘
‚Kati Beckmann is in my view Germany’s leading lawyer for investment funds – her technical and soft skills are exceptional and her connections unbelievable.‘
‚Straightforward, hands on, highly professional and make it fun to work with them.‘
‚Kati Beckmann is a reliable partner and advisor for us, with constant knowledge improvement, team spirit and pragmatic.‘
‚A team with unique knowledge of the investment fund industry in general and the real estate finance segment in particular. Great experience and thoroughly gathered special knowledge for our business in Germany and Luxembourg.‘
‚A highly trusted relationship built over years with a partner who knows our business inside out. Business development happens naturally and I truly appreciated the excellent independent advice we are getting from the partner directly and their global practice indirectly.‘
‚Kati Beckmann is an outstanding lawyer with exceptional expertise in her field. She always treats us with respect and as equals, never being arrogant. She is also very accessible and can deliver results very quickly when needed.‘
Kernmandanten
FAP
HanseMerkur Krankenversicherung
Castlelake, L.P.
HanseMerkur Grundvermögen
Highlight-Mandate
Heuking
Alongside its fund structuring expertise, Heuking‘s funds practice is well versed in the ESG frameworks governing sustainable investments, frequently being called upon to advise on the EU’s SFDR. Beyond this, the firm is expanding its presence in the crypto funds space and is also active in the venture capital and real estate markets. Michael Dröge heads the team, handling both structural funds issues and subsequent transactions.
Praxisleiter:
Michael Dröge
Weitere Kernanwälte:
Christoph Gringel
Referenzen
‘Very pragmatic approach, good availability, broad and deep expertise within the team.’
‘Very good understanding of our business model, able to provide advice based on past experience.’
Kernmandanten
Aquila Capital Investment Company
Paribus Kapitalverwaltungsgesellschaft mbH
VALUES. Institutional
Kontora Kapitalverwaltungs GmbH
Alpha Ordinatum GmbH
Highlight-Mandate
- Advised Paribus Kapitalverwaltungsgesellschaft mbH in connection with the acquisition of a real estate fund portfolio and the design and launch of a new real estate AIF and a new private equity fund of funds.
- Advised Kontora Kapitalverwaltungs GmbH on the establishment of an open-ended special fund pursuant to Section 282 of the German Investment Code (KAGB) as an Article 8 Fund within the meaning of the SFDR.
- Advised w3.fund Management GmbH on the establishment of an externally managed German special investment company, to be managed by w3 as an external capital management company and whose sub-fund invests as an open-ended special AIF primarily in crypto assets and NFTs.
Heussen Rechtsanwaltsgesellschaft mbH
Heussen Rechtsanwaltsgesellschaft mbH is particularly adept at advising funds and other asset managers in the real estate and infrastructure sectors, assisting with the structuring of both regulated and unregulated investment vehicles and overseeing their compliance efforts. The team is headed jointly by Martin Wolfstetter, whose expertise spans closed-ended funds in particular, and Alexander Lehnen, a specialist in fund and transactional taxation.
Praxisleiter:
Martin Wolfstetter; Alexander Lehnen
Referenzen
‚Highly qualified in data protection, corporate law, fund structuring, investment management companies, and insolvency law. We tried other firms to have a greater variety of lawyers, but there was nothing comparable.‘
‚Martin Wolfstetter demonstrates a strong work ethic and exceptional expertise in the field of investment management companies and fund structuring. Available at short notice and delivers prompt, knowledgeable responses across a range of areas, including corporate law.‘
Kernmandanten
GTC Origine/Globe Trade Centre S.A.
Periskop Investment
Habona Invest GmbH
Deutsche Rückversicherung AG
AIF Capital
LLB Immo KAG
Verifort Capital
DeWert KVG
BVT Holding GmbH & Co. KG
derigo GmbH & Co. KG
IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH
INDUSTRIA WOHNEN GmbH
greentech asset management GmbH
McDermott Will & Schulte
McDermott Will & Schulte‘s funds work spans the gamut of structuring and transactional matters, acting for both alternative and institutional investors across asset classes ranging from real estate to private equity. Practice co-head Frank Müller combines fund structuring and regulatory expertise with his knowledge of real estate law, while Kian Tauser takes the lead on both fund and transactional tax matters.
Praxisleiter:
Frank Müller; Kian Tauser
Referenzen
‚They provide good and relevant client trainings at regular intervals.‘
Kernmandanten
Art-Invest
BF.capital GmbH
CommerzReal
FOM Invest GmbH
Hansainvest
HEP Kapitalverwaltung AG
HT Group
MEAG
Real I.S. AG Gesellschaft für Immobilien
ReInvest
Swiss Life Kapitalverwaltungsgesellschaft
Universal Investment
VALUES. Institutional Invest GmbH
Highlight-Mandate
- Advised BF.capital on regulatory licenses and fund formation.