MINNEAPOLIS – (October 9, 2009) –International law firm Dorsey & Whitney LLP announced that it has expanded its Funds Practice Group by the addition of a private investment funds practice to its already successful public investment funds practice. Dorsey & Whitney’s private investment funds lawyers advise fund managers, sponsors, investors, trustees and custodians in connection with the creation, operation and leveraging of alternative investment funds in domestic, offshore and other non-US jurisdictions.
The new capabilities are focused in the firm’s New York office and led by partner Thomas Gallagher and senior associate Jonathan Ross. Commenting on the announcement, Thomas Gallagher said, “Our private investment funds group has over twenty years’ experience, including in respect of US, offshore and European funds. We innovate tax efficient solutions for clients, across a range of asset classes, including first of their kind dual-option funds and royalty receivables funds.”
The private investment funds practice works closely with local experts in a number of the most popular funds jurisdictions, including BVI, the Cayman Islands, the Channel Islands, Ireland and Luxembourg. In addition, the private investment funds practice draws upon other practice areas, including Dorsey’s Corporate, Regulatory Compliance, Securities and Taxation groups. The approach is to manage tax, structuring and regulatory issues and provide the client with a one-stop, efficient and cost-effective solution. According to Jonathan Ross, “The clients appreciate our experience structuring and providing ongoing advice to US and international funds, for a range of investor profiles, as well as our approach to transaction management.” Examples of areas of expertise of the private investment funds group include the following:
- Structuring tax-efficient Irish and Luxembourg regulated (QIF/SIF), unregulated and listed funds.
- Structuring Delaware funds, statutory trusts and feeder fund arrangements.
- Structuring first of their kind dual-option funds enabling direct investment into debt and/or equity.
- Advising on the use of UBTI blockers, dual tax treaties, IRS rulings, permanent establishment issues and the quoted Eurobond rules.
- Advising in connection with the UCITS 3 Directive.
- Advising across asset classes and business sectors: banking, distressed debt, energy, infrastructure/project finance, financial services, insurance, IP rights, life insurance settlements, manufacturing, movie fractions, real estate, technology.
- Advising on pre-regulatory compliance infrastructure and controls.
- Establishment of offshore funds and master feeder structures, including in the BVI, Cayman Islands and Channel Islands.
- Advising on cross-border broker-dealer arrangements.
- Providing ongoing general corporate advice to funds.
About Dorsey & Whitney LLP
Clients have relied on Dorsey (www.dorsey.com) since 1912 as a valued business partner. With more than 650 lawyers in 19 locations in the United States, Canada, Europe and Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful Fortune 500 companies from a variety of disciplines, including leaders in the financial services, investment banking, life sciences, securities, technology and energy sectors, as well as nonprofit and government entities.