The IMP has expertise focusing on investment funds and structures, covering various types of investment funds (e.g. different types of collective investment schemes; hedge funds; regulated and structured funds and private equity funds).
In particular, the IMP advises on:
• forming and documenting new investment funds;
• legislation and regulations affecting investment funds, investment/asset managers and investors;
• due diligence on investment funds;
• drafting and negotiating investment management agreements, custody agreements, investment advisory agreements and dealing agreements;
• reviewing prospectuses; private placement memoranda, advising on subscription for interest in investment funds and negotiating side letters;
• investment of pension fund assets; and
• tax law in relation to investment funds and investors.
The IMP also advises a number of foreign investment funds in relation to doing business in South Africa. In particular, the IMP advises foreign investment managers on soliciting investment from South African investors. The IMP has a particular competence in dealing with the Financial Services Board (the regulator responsible for approving the operation of foreign domiciled investment funds in South Africa).
The IMP works closely with other practice groups in order to provide integrated advice to clients, e.g. the Banking, Insurance and Financial Services Group, the Corporate and Commercial Group, the Employee Benefits Group and the Tax Group.