Breaking new ground in international funds
Significant changes in the global funds landscape have seen a rise in activity and the importance in fund formation in Australia, both as a source of investable funds and as a destination for investment. Remaining at the forefront of the market, King & Wood Mallesons’ funds team actively guides and supports clients as they respond to increased regulatory scrutiny and the pressure and volume of reform in this rapidly evolving sector.
KWM supports clients across the spectrum of private capital, in particular in the formation of funds and other investment vehicles for sponsors of private capital and providers of private capital. Having been at the forefront of the market for over four decades, KWM continues to be one of the largest dedicated investment funds teams.
We work with clients across all core disciplines of the funds sector including listed and unlisted funds, private funds, private clubs and consortiums, private equity, venture capital, superannuation, market participants and regulation.
We regularly advise on:
- Funds structuring
- Tax issues (including stamp duty)
- Regulatory issues
- Social impact investing
As well as fund formation, we advise on all kinds of transactions involving funds and fund managers, including M&A and joint ventures, restructures, investments and divestments, and co-investments.
Leading the way in Asia and across the Pacific
KWM’s unique understanding of international fund regimes means we are regularly called on to assist offshore institutions to execute their plans in Asia - Pacific. This includes advising on the marketing of their funds to local investors, establishing local operations and making local investments. Our funds practice is internationally oriented - we are experienced with foreign structures, regularly work on global or regional funds, and can draw upon KWM’s international funds capability in Singapore, Hong Kong SAR and the PRC.
Clients benefit from our seamless delivery of funds, mergers and acquisitions, capital markets and tax expertise. We have played an important role in assisting many leading fund managers and investors in executing strategic transactions, including:
- Westfield on the restructure of Westfield and Westfield Retail Trusts.
- Dexus on the establishment of Dexus Real Estate Partnership 1, a closed-end, unlisted Australian real estate opportunity fund and the first in a planned series of opportunity funds.
- Irongate Group on forming a dual stapled listed group on the ASX and Johannesburg Stock Exchange (JSE) in addition to a proposal to internalise the management function of the fund, that involved Irongate Group acquiring the management entities and associated management rights from the Investec Group for approximately A$40 million.
- First Sentier on separation of its public markets funds from Colonial First State and capital raising and other activities of its global diversified infrastructure fund.
- GIC on its acquisition of a 80% interest in Blackstone’s A$3.8 billion portfolio of 45 industrial and logistics properties, through a partnership (known as the ESR Milestone Partnership) with ESR. ESR took a 20% interest in the ESR Milestone Partnership and management rights.
