William Fry has one of the largest Asset Management & Investment Funds Department in Ireland, known for its service excellence and commercial focus. We represent funds constituting more than 24% of assets domiciled in Ireland, over 60% (by assets) of all current Irish domiciled Exchange Traded Funds, the majority of Irish domiciled money market funds and a significant share of UCITS funds in the Irish Domiciled Market.
Clients range from start-up and boutique operations to some of the largest financial institutions in the world. We also represent leading service providers to investment funds, specialising in both the long-only and alternative businesses.
Areas of expertise include:
- UCITS Funds, including those employing long only and alternative strategies and structured products
- Exchange Traded Funds with listings and trading on stock exchanges across Europe
- Money Market Funds
- Hedge Funds
- Private Equity Funds
- Property Funds
- Life Settlement Funds
- Fund redomiciliations and mergers
- Investment Manager establishment
- Administrator and Custodian establishment
- Fund and Service Provider mergers
- Financial regulation
- Fund disputes
- Company secretarial services and board meeting administration
- Taxation of investment funds
As fund structures become more complex, we work closely with our financial services, corporate, tax and litigation colleagues who have asset management and investment funds expertise to provide a full service solution to clients.
William Fry Partners have been centrally involved in the development of the Investment Funds industry in Ireland through involvement with the Irish Funds Industry Association (IFIA) providing the first law firm representatives to chair the IFIA and to act as chairs of key industry committees such as the Marketing and Alternative Investment Committees. Other industry representation includes serving on the legislative sub-committee of the IFSC Funds Group, a group established under the aegis of the Taoiseach's (Irish Prime Minister's) Department and the Company Law Review Group, a statutory advisory expert body charged with advising the Irish Minister for Enterprise, Trade & Employment on the review and development of company law in Ireland.
Recent significant deals include advising:
Hermes BPK Partners LLP on the establishment of a managed futures fund.
Barclays Global Investors (“BGI”) on the proposed sale by Barclays of its iShares exchange traded fund business to CVC Capital Partners Group.
Ahli United Bank plc on the redomicilation of its Cayman range of funds to Ireland representing the continued development of Ireland as the preferred domicile for promoters from the Middle East region.
Lazard Asset Management (“Lazard”) on the establishment of an umbrella fund of exchange traded funds as part of Lazard’s non-traditional investment strategy.
ETF Securities Limited on the establishment of their initial platform of swap-based ETFs – the first such platform to be launched in Ireland.
Hermes Investment Management Limited (“HIML”) on the launch of two UCITS umbrella schemes.
Hermes Alternative Funds plc on the establishment of a fund of hedge funds umbrella structure.
Architas Multi-Manager Europe Limited on the establishment of a UCITS management company and UCITS multi-manager platform to facilitate the investment of proceeds from the sale of Life products throughout Europe.
Rogerscasey Inc on the establishment of a QIF multi-manager platform focusing on green energy, resources and sustainable development.
Nordisk Energiforvaltning ASA on the establishment of a retail fund of hedge funds in the green energy sector.
Awards
Irish Private Funds Law Firm of the Year (ACQ Finance Magazine Law Awards 09).
Best Lawyers in Ireland (Funddomicile Awards 2008).
We are consistently ranked as one of the leading Asset Management & Investment Funds law firms in Ireland.
Department
William Fry is ‘effective, responsive and absolutely top shelf to work with’.
Legal 500 EMEA, 2010 – Investment Funds
Clients 'find the lawyers to be businesslike and practical: they look at issues in a pragmatic manner, and are extremely responsive and knowledgeable'.
Chambers Europe, 2011 - Investment Funds/Financial Services
“William Fry brings extensive, diverse knowledge to the table, and is really up on developments in the market,” sources enthuse, adding: “It offers the same level of expertise as other top outfits, but with greater client centricity.” With five partners and a total of 24 fee earners, the group has strength in depth and offers a service capability spanning the full spectrum of the investment funds sector. The team has a pioneering, progressive spirit, and acts frequently on first-in-the-market transactions; for instance, it advised ETF Securities on the establishment of its initial platform of swap-based ETFs, which was the first such platform to be launched in Ireland. Sources call the firm “a leading player in the ETF space, and in other topical products.” The lawyers are also active in helping fund promoters move their products to more regulated jurisdictions, representing clients such as Ahli United Bank on the redomiciliation of its Cayman funds to Ireland.
Chambers Europe 2010 - Investment Funds/Financial Services
Clients describe working with William Fry as a ‘pleasure and a privilege’
Legal 500 EMEA, 2009 – Investment Funds
This team has the “ability to adapt well and bring its technical expertise to whatever the market calls for.”
Chambers Europe, 2009 - Investment Funds/Financial Services
Team
Dan Morrissey
Daniel Morrissey has been a dominant presence on the Irish funds scene for more than 20 years.
Chambers Europe, 2009 – Investment Funds
Tara O'Reilly
Tara O'Reilly 'has a great client base' and is sought after for 'complex matters'.
Chambers Europe, 2011 - Investment Funds/Financial Services
Tara O’Reilly attracts praise from every quarter for her ‘in-depth knowledge on regulatory and industry trends’, ‘great communication skills’ and ‘ability to find practical solutions’.
Legal 500 EMEA, 2010 – Investment Funds
Clients..single out Tara O’Reilly as ‘extremely business friendly’.
Legal 500 EMEA, 2009 – Investment Funds
Clients describe her as “really approachable and able to provide tailored advice that gives you a competitive advantage over everyone else.”
Chambers Europe, 2009 - Investment Funds/Financial Services
Cormac Commins
Cormac Commins has a ‘sharp intellect’.
Legal 500 EMEA, 2011 - Investment Funds
Cormac Commins is recommended for his ‘ability to work intuitively with in-house counsel’.
Legal 500 EMEA, 2010 – Investment Funds
Cormac Commins is praised as being “particularly excellent on UCITS, but with a great overall knowledge of the industry.”
Chambers Europe 2010 - Investment Funds/Financial Services
Cormac Commins has been particularly busy in the last year and clients have been impressed by his work. “He’s very available and responsive to requests,” says one.
IFLR1000, 2010 – Investment Funds
Patricia Taylor
Patricia Taylor is “experienced and practical, and meets the challenge of giving clear and succinct advice,” according to clients.
Chambers Europe 2010 - Investment Funds/Financial Services
Paul Murray
Paul Murray is an ‘expert in SPV requirements’.
Legal 500 EMEA, 2010
Paul Murray is described as “reliable and extremely imaginative,” and has extensive expertise in structured finance. He focuses on insurance securitisation, reinsurance and derivatives.
Chambers Europe, 2009