Asset management
Wikborg Rein's asset management team is a multidisciplinary practice providing tailored, fully integrated legal services to asset managers, funds, and other stakeholders across domestic and international markets. With a strong commercial focus, we offer advice on the legal, regulatory, tax and commercial aspects of our clients' operations.
Drawing on extensive industry experience with practical, common sense solutions we advise a diverse base of asset management clients – ranging from leading alternative asset managers and financial institutions to first time fund managers – regulated and unregulated.
We have a collaborative focus to ensure that specialists in relevant areas such as M&A, employment law, disputes, ESG and compliance are involved as needed, providing seamless execution across all relevant legal fields.
We offer
- Fund establishment and fundraisings (private equity, venture capital, fund-of-funds, hedge funds, real estate, credit, shipping, infrastructure, natural resources, continuation vehicles, etc.)
- Establishment of fund management companies (regulated and unregulated)
- Ongoing support and advice to GPs and their portfolio
- Primaries, secondaries and co-investments
- M&A, consolidations and GP stakes transactions
- Financial regulation and other compliance and regulatory matters, including AML, ESG, GDPR, DORA, SFDR, Taxonomy and corporate governance
- Drafting and negotiation of key agreements for asset managers
- Management incentive programmes and employment law for asset managers and portfolio companies
Further description below.
Read more about our assistance
Fund establishments and fundraisings
- Comprehensive counsel on tax and structuring, project management (acting as legal lead), coordination with service providers and foreign lawyers, advising on framework for marketing and pre-marketing
- Preparation of essential legal fund documents and marketing material, including fund presentations, partnership agreements (LPAs), shareholder agreements, management agreements, articles of association, subscription agreements, information memorandum, PPMs, prospectuses, supplements, DDQ, depositary agreements and administration agreements, etc.
- Support with investor onboarding, including framework for anti-money laundering measures and investor classifications
- Strategic GP advisory, including liquidity solutions
- Representing GPs in investor negotiations, preparation of side letters, etc.
- We have experience with a wide range of investment strategies, including private equity, venture capital, fund-of-funds, hedge funds, real estate, credit, shipping, infrastructure, natural resources, etc. We also advise on a variety of regulatory statuses, including EuVECA, SFDR Article 8 and Article 9 funds.
Establishment of fund management companies (regulated and unregulated)
- Advice and support with structuring and establishment of management and investment companies, covering tax and structuring, regulatory aspects, shareholder agreements, employment contracts and incentive schemes.
- Ongoing commercial guidance on business regulations, marketing, reporting, compliance, etc.
- Preparation of authorisation applications and handling of communications with supervisory bodies, such as the Financial Supervisory Authority.
Ongoing support and advice to GPs and their portfolio
- Ongoing advice to GPs covering every aspect of the management company’s day-to-day operations, including regulatory developments, corporate governance, employment matters, market insights, reporting, general compliance, investor communication, dispute resolutions etc.
- Advice throughout the fund’s lifecycle, both on the fund level and for portfolio companies, including LP transfers, additional closings, corporate housekeeping, implementation of governance structures, policies and other operational issues that arise.
Primaries, secondaries and co-investments
- Legal advice in connection with fund investments, purchase and sale of secondary portfolios, co-investments and realisations.
- Advising funds and managers on, among other things, assessment of tax and structuring, fund due diligence, side letter negotiations, regulatory requirements and ESG matters.
M&A, consolidations and GP stakes transactions
- Regularly advice on consolidations, GP stakes transactions and M&A at ManCo level.
- Wikborg Rein is one of Norway's leading M&A law firms, advising on all types of listed and unlisted transactions, mergers and demergers, across all sectors and strategies. The asset management team makes use of the firm's broad range of expertise to deliver seamless, end-to-end transactional support.
Financial regulation and other regulatory matters, including compliance, AML, ESG, GDPR, DORA, SFDR, Taxonomy and corporate governance:
- Development of policy packages, internal routines and operational frameworks for compliance with key financial regulations (including AIFMD, UCITS, MiFID, MAR, DORA) and other relevant regulations such as GDPR and AML.
- Training programs for employees, plus other integrated service support such as management assistance, "corporate secretary" support, compliance oversight, and simulated supervision exercises.
- Guidance and advice on SFDR, EU Taxonomy, preparation of ESG policies and instructions, implementation of ESG due diligence and other ongoing ESG related advice for asset managers.
Drafting and negotiation of various agreements for asset managers
- Negotiation and preparation of shareholder agreements, management agreements and other mandate agreements, purchase and sale agreements, advisory agreements, distribution agreements, facilitation agreements, ISDA and GMSLA documentation, etc.
Management incentive programmes (MIP) and employment law for asset managers and portfolio companies
- Advice on industry-specific employment contracts and shareholder agreements, structuring and implementation of management incentive programmes at portfolio company level and carried interest arrangements on investment team side. We also advice on ongoing employment law support to managers and their portfolio companies.
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.
Wikborg Rein's asset manager grant
A grant for those who wish to establish a new asset management company and the first fund.
Non profit
We regularly advise government agencies and foundations on a broad spectrum of asset management matters, with a particular focus on structuring and responsible investments in developing countries aimed at promoting economic and social development.
