Asset management
Our asset management team has extensive experience assisting all types of asset managers, both regulated and unregulated, nationally and internationally.
We offer tailored and fully integrated legal assistance for managers, funds, and other stakeholders. We use our expertise and our thorough understanding of the industry and its operators' activities to provide valued and practical advice to asset managers.
To ensure comprehensive consultancy in complex cases, the competence group is supported when needed by our lawyers with expertise within relevant disciplines (M&A, company law, ESG, tax, compliance, labour law, competition law, dispute resolution, etc.).
We offer
- Managers of alternative investment funds (private equity, ventures, fund-in-funds, hedge funds, property, private debt, shipping, infrastructure, natural resources, etc.)
- Securities fund managers
- Securities firms
- Project financing companies and facilitators
- Banks and financial institutions
- Pension undertakings and pension funds
- Insurance companies
- Family offices
- Corporate ventures
- Consultants
- Advisors and service providers within asset management
- Institutional investors and sponsors
Further description below.
Read more about our assistance:
- Financial regulatory, establishment of management environments and other ongoing consultancy: We assist in the establishment of management and investment environments (including with tax and structure, regulatory relationships, shareholder agreements, employment contracts and incentive schemes), handling of permit applications, ongoing commercial advice including in relation to business regulations, marketing, and other framework conditions (including communications with local supervisory bodies including the Financial Supervisory Authority).
- Fund establishments: Tax and structure, project management (as legal lead), coordination with service providers and foreign lawyers, marketing and pre-marketing consulting, handling of anti-money laundering (AML) and preparation of fund documents and marketing material (including fund presentations, partnership agreements and limited partnership agreements, articles of association, information memorandum, private placement memorandum, prospectus, supplement, DDQ management agreements, shareholder agreements, depot recipient agreements, and administration agreements).
- Primary, secondary and co-investments: Assistance in connection with investments in funds, purchase and sale of secondary portfolios, co-investments and realisation. We assist funds and managers with, among other things, assessment of tax and structure, fund due diligence, side letter negotiations, regulatory matters and ESG.
- M&A: We assist with all types of listed and unlisted transactions, mergers and demergers. As one of Norway’s leading players in legal transaction consulting, we have expertise and broad experience in national and international acquisition situations, auctioning, mergers and feed-in purchasing across all sectors and strategies.
- Compliance, AML and governance services: Training of employees, preparation of policy packages and instructions for businesses and investments, in addition to providing integrated service support such as management assistance, "corporate secretary", assistance with compliance, and fictitious supervision.
- Contract law and assistance with negotiations for asset managers: Negotiation and preparation of distribution agreements, management agreements and other mandate agreements, purchasing and sale agreements, advisory agreements, facilitation agreements, shareholder agreements, ISDA and GMSLA.
- Employment rights for asset managers: Preparation of industry-specific employment contracts and shareholder agreements, incentive programmes for management and other bonus schemes, as well as ongoing labour law consultancy services to administrators and their portfolio companies.
- Environmental, Social, and Governance (ESG): Advice related to EU Taxonomy, preparation of ESG policies and instructions, implementation of ESG due diligence and other ongoing advice related to ESG for asset managers.
Sustainability in Asset management
The capital management industry is responsible for managing over USD 126 billion globally and the industry has a unique opportunity to direct capital towards sustainable projects and influence investments towards a sustainable future. Asset managers therefore play a crucial role in driving sustainable transformation.
To ensure transparency, prevent greenwashing and create incentives to make sustainable investments, the EU has, on this basis, developed a framework for sustainable finance that outlines detailed obligations for asset managers. These obligations include disclosure and reporting requirements at both company and product levels, managing sustainability risk, identifying sustainable investments, and prioritising customers' sustainability preferences. Asset managers must also comply with obligations placed on underlying investment assets and other financial market participants.
We provide clients with tailored advice and practical solutions to help them comply with any relevant legal requirements while aligning with their business objectives. With a deep understanding of regulatory frameworks, we can assist clients in managing sustainability risks and identifying sustainable investment opportunities.
Read our articles on Asset management
Securitisation is coming to Norway
The EU's regulations on securitisation will be incorporated into the EEA Agreement on 12 June. It is likely that the rules quickly will be implemented into Norwegian law, with entry into force 1 January 2025.
WR Asset Management: When does a company qualify as an alternative investment fund? A particular focus on project financing
Various types of companies may qualify as alternative investment funds (AIFs). This have practical significance due to the extensive regulations governing the management of AIFs. The Financial Supervisory Authority of Norway (FSAN) actively monitors this area and conducted thematic inspections of entities involved in project financing in the spring of 2023. FSAN's annual report for 2023 also indicates a notable increase in the number of Norwegian AIFs.
WR Asset Management: Establishment of funds - Key documentation
Fund establishment requires careful preparation and drafting of relevant documentation. The extent of the documentation varies considerably and depends, among other things, on the intended fund structure, jurisdiction, asset class, type of target investors and the regulatory conditions under which the fund and manager operate.
