Trusted Partner
Investment Fund Formation, Management & Regulatory Law for Inward Investors

K&L Gates is an international law firm operating across five continents

K&L Gates is positioned to advise on the full scope of legal and regulatory issues facing investment managers, banks and the broader financial services industry in the UK market. Our investment fund formation, management and regulatory lawyers can assist investors across all investment fund types, including both unregulated and regulated funds from UCITS and NURS, to hedge funds, private equity, real estate, closed-end listed funds and institutional mandates.

Our London-based team forms part of a global practice which includes 160 asset management and investment fund lawyers worldwide. We have experience in formation, authorisation, operation and advising on fund strategies. We counsel investment advisers of every size, open- and closed-end investment companies, exchange-traded funds, private funds companies, broker-dealers, retirement plans, family offices, operating platforms and other service providers to the investment management and broader financial services industries.

Much of the advice we provide involves a combination of areas, bespoke to the particular matter in hand, we can also advise on a wide range of areas affecting investors including finance & restructuring, tax, sanctions, investigations and trade regulation, competition, white collar and corporate crime.

Investment Funds

Our team is known for being trusted advisers to funds and institutional investors, as well as advising on high-profile and innovative funds mandates. We work with fund clients over the entire life cycle and spectrum of fund formation, from selecting the optimal legal structure and structuring the management company, the general partner, and the fund (including master-feeders and alternative investment vehicles) to operational and negotiations and fund taxation, to the winding-up and dissolution process. We also routinely advise on the establishment of innovative financial markets participants with business models designed to disrupt financial sector norms.

We have a global funds offering for our clients. Our London-based team works particularly closely with our lawyers in the US on transatlantic mandates; and with our lawyers in Germany and Italy on high-level pan-European matters as well as lawyers in Asia and Australia.  Our team is viewed as a trusted thought leader, capable of advising on the very latest developments and of helping to shape funds regulation across geographies. Our experience also includes fund formation in the Republic of Ireland, Guernsey, Jersey, the British Virgin Islands, Luxembourg and the Cayman Islands. We advise on portfolio investments and divestitures and day-to-day legal and regulatory matters and also advise institutional investors with their fund investments.


Our lawyers advise on the regulation of financial services businesses and their products and services, with a particular focus on regulated and unregulated investment funds. This work includes strategic and legal counsel in relation to UCITS, AIFMD, MiFID II, PRIIPs KIDs, EMIR, FCA Asset Management Study and crypto related funds. We advise on the most current developments affecting the investment funds industry including Brexit and liquidity challenges and ESG. We are at the forefront of advising clients on ESG compliance and are renowned for advising on the establishment of emerging, innovative financial markets participants with business models which break new ground for the sector as a whole.

Our clients regularly turn to us to help them navigate regulatory change due to our team’s role in assisting clients in tracking and influencing the development of financial services legislation. We have helped to formulate significant aspects of financial services regulation. This includes participating in the EU Commission working groups responsible for formulating proposals to change UCITS legislation, as well as representing numerous financial institutions on sensitive issues involving regulators in both contentious and non-contentious matters. We are active on a number of EFAMA Standing Committees covering all key aspects of financial services regulation. We have relationships with regulators, supervisory authorities and trade associations.

We also advise on financial services regulatory projects, investigations and proceedings for a range of institutions. We provide advice on compliance with the FCA as well as on ethics, anti-corruption and internal compliance policies and procedures. We can advise on various sanctions related issues, including financial and trade sanctions, along with obtaining specific licences and export authorisations. We have led a variety of sanctions related investigations, including cross-border matters and those requiring interaction with various sanctions enforcement bodies, including the UK Office of Financial Sanctions Implementation and the US Office of Foreign Assets Control.

Clients appreciate the ability of our London-based team to provide transatlantic compliance law counsel through a UK interface, working closely with our lawyers in the US on transatlantic mandates; and in the EU on high-level pan-European matters.

Our clients and peers alike praise us for our legal advice, law directory, Legal 500 currently ranks us in Investment Funds and Financial Services: Non-Contentious/Regulatory with Partner, Michelle Moran ranked as a Leading Individual. Some of the recent comments from our clients are as follows:

“Excellent understanding of the investment management industry. Hands-on solution driven approach.”

“The fact that she has done a senior in-house role in the past gives her precious insights into clients’ needs. She also stays in touch with regulatory bodies, including in the EU, in a way which generates a valuable forward-looking perspective.”

“Michelle Moran is a safe pair of hands with deep experience. The fact that she has spent a lot of her time working in house before returning to private practice means she has a unique perspective and is very commercial with her advice. Responds very quickly and is always available to discuss matters on the phone. Highly recommended.”

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For further advice and assistance please contact:

K&L Gates LLP
One New Change
Tel: + 44 (0)20 7360 8255
Contact: Michelle Moran – Partner & Practice Group Coordinator of K&L Gates’ Global Asset Management & Investment Funds Practice

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