Our Funds practice has deep experience and a wide breadth of knowledge of the sector as well as the regulatory framework, with regular and extensive engagements with the Indian regulators and overseas and local fund managers.
We advise clients on all stages in the life cycle of a fund and provide our clients with the sophisticated advice required in the formation and operation of various types of funds.
We advise several domestic and international private equity funds, including venture capital funds, asset and investment management companies and trustee companies on structuring their operations in India and on various other regulatory aspects surrounding such operations.
We provide complete and integrated legal and tax solutions to various venture capital funds, including real estate funds and mutual funds. Our Funds practice provides services which include tax efficient structuring of funds and performance fees for fund managers and employees, legal and regulatory advice and drafting of documentation for funds including their information memoranda, private placement memoranda, investment management agreements, administration agreements, subscription agreements and investment advisory agreements. We are renowned for working seamlessly with law firms in multiple jurisdictions to achieve our clients’ objectives.
The team advises on all aspects of the structuring and operation of funds, from an Indian legal, regulatory and tax perspective, including:
•The structure and tax treatment of funds and special purpose vehicles;
• Setting up of fund vehicles and drafting of constituent fund documents, such as the private placement memorandum and subscription agreements;
•Setting up of the investment management/advisory vehicles and structuring management/advisory agreements and compensation arrangements with the fund; and
• Regulatory compliant and tax efficient structuring of distribution waterfalls, including performance profit distributions, such as carried interest and other incentive arrangements.
• Structuring the fund, including the geographic location.
• Advising on the appropriate entity or vehicle for the fund such as pass-through trusts, limited liability partnership etc.
• Investment transaction structuring and advice, including the instrument/s to be used.
• Conducting legal due diligence.
• Deal documentation, including term sheets, share subscription agreements, share purchase agreements and shareholders agreements.
• Formulation of exit strategies and assisting in implementation of these strategies.
The team is also familiar with various legal, regulatory and tax requirements of international investors, such as the use of feeder funds, and has liaised with international counsel to effectively address country specific concerns, including the placement of securities
In addition, the team is well placed to provide advice on fund investment transactions, which enables us to provide close support to the fund, from the fund formation phase to its investments in portfolio companies. The Managed Funds practice group also advises on regulations affecting the investment management and advisory business.”