Fund Governance

The Fund Governance Advisory Team focuses on advising investment funds and private equity fund boards, general partners, trustees, independent directors and non-executive directors on their responsibilities, duties, obligations and liabilities collectively and individually and supporting investors in their due diligence reviews of offshore investment funds and private equity funds.

The team also advises:

  • Service providers to offshore funds on any regulatory concerns they may have in relation to their fund clients. This service covers advice over the life of the offshore fund, from the set-up phase, through operation, to distressed situations and termination.
  • Investors in connection with their investment in offshore investment funds and private equity funds.

Appleby’s Fund Governance Advisory Team is able to draw on the global expertise in fund formation and advice of Appleby’s Global Funds and Investment Services Group and the experience of its market leading Fund Disputes team to deliver a comprehensive and insightful service on fund governance issues.

Fund Boards & Investment Managers

Advising Fund Boards and Investment Managers:

  • In the set-up phase - undertaking an independent review of the fund offering document and constitutional documents (including investment management agreements) and advising on consistency and market practice
  • Advising in relation to distressed situations, informal wind-downs and termination options
  • Providing guidance on the scope and applicability of directors’ duties, the duties of a general partner or other governing body
  • Assisting the fund board in the negotiation and consideration of the terms of side letters
  • Advising on the identification and management of conflicts of interest
  • Guiding the board on appropriate levels of oversight and enquiry of delegated functions and the establishment of committees
  • Providing assistance on the development of policies and procedures for the fund
  • Advising on regulatory governance issues
  • Reviewing and advising on directors & officers’ insurance (D&O)

 

Investors

Advising investors:

  • Conducting investor reviews of fund offering documents and constitutional documents (including investment management agreements) and advising on consistency and market practice
  • Assisting investors in the negotiations and consideration of the terms of side letters
  • Advising in relation to distressed situations, informal wind-downs and termination options

Service Providers

  • Advising service providers in relation to reporting requirements to regulatory authorities, tipping-off and other regulatory matters relevant to their role in relation to fund clients