Employment | Legal Services

Private Funds

One of the largest private capital and funds groups in London, combining a tier 1 funds practice with a market leading private equity team.

2024

Team of the Year

The Lawyer

2022

Horizon Ukraine

Raising Horizon IV against backdrop of war

100%

Full Service - All Vehicles

Rare team of experts acting for GPs & LPs

Our model is to form long-term strategic relationships with clients and to work with them on their fundraisings, investments and divestments.

We handle every stage in the life cycle, and we provide fund managers with the sophisticated level of counsel required for forming, advising and operating private investment funds. Within fund formation, we take a creative approach, starting with not only the specific objectives of a particular fund but also an assessment of how the fund fits within the client’s broader business goals.

We then help fund managers determine the best structure and terms to achieve those goals. Our clients range from large institutional and household names to start-up boutiques and successful private equity houses.

Their responsiveness is superb and the international network is a plus.

Chambers Global 2025

Our services range from the structuring and establishment of investment products through to their continuing operations.

Our Services

Experience advising on the launch, structuring, and ongoing management of private funds across asset classes, including joint ventures, first-time funds, and specialist strategies.

  • NextEnergy Capital
    Advising on the formation of $900m renewable energy fund NextPower III and £500m NextPower UK ESG solar energy fund and the €100m managed account for a German pension fund.
  • Impala Energy Holdings 
    Advising on the formation of $150m-plus UK/Danish fund to finance, develop and operate liquefied/compressed natural gas assets in Nigeria.
  • Energy Access Ventures 
    Advising on the formation of €75m African renewable energy fund. Subsequent restructuring to facilitate the making of excused investments.
  • Multiplicity Partners AG, a Swiss fund manager
    Advising on the formation of their fourth fund targeting $160 million and on the previous second and third funds, all focussing on special situations and complex secondary market opportunities.
  • Sackville Capital 
    Advising this UK investment fund manager on the structuring of their £500 million fund.
  • Alvarium, UK real estate fund manager 
    Advising on their joint venture with Northtree and the cornerstone investment into their first and second fund.
  • Sturgeon Capital 
    Advising on the launch of a private fund focusing on Bangladesh, Pakistan, and Central Asia.
  • Mercuri 
    Advising a UK fund manager on structuring and establishing a media venture fund, backed by the BBB.
  • Shard Credit Partners 
    Advised Shard Credit Partners on the establishment of its first Venture Credit Fund focusing on investing in the north of the UK.
  • Soho Square
    Advising on the establishment, post-Brexit restructuring and secondary asset transfer in relation to its £135 million Fund VII.
  • Coniston Capital 
    Advising Coniston Capital, a first time UK manager on structuring and establishing its fund I investing in small cap companies
  • Acumen H2R Expansion Fund
    Advised Acumen, a global impact investor building markets to solve poverty, on the launch of its Hardest-to-Reach Initiative (H2R), a first-of-its-kind blended finance strategy to scale clean and inclusive energy solutions in sub-Saharan Africa’s most underserved regions. 

Experience advising cornerstone investors, co-investors, and institutional/family office clients on investment programmes and bespoke fund allocations.

  • Hayfin
    Advising on its pre-empted cornerstone investment into Impilo Orphan Drugs AB
  • Middle Eastern Family Office 
    Advising on their cornerstone investments into private equity funds
  • Family office 
    Advising on their cornerstone investments into first time funds
  • Swiss charitable foundation 
    Advising on their investment programme into a series of private funds across multiple strategies (including private equity, debt, infrastructure and real estate) in various jurisdictions (UK, Jersey, Luxembourg, Cayman, Delaware, Sweden, Denmark, Germany).
  • German charitable foundation
    Advising on their investment programme into a series of private funds across multiple strategies in various jurisdictions, including a number of cornerstone investments.
  • LifeArc
    Acting for LifeArc as investors in Bridge Valley Ventures Life Sciences I LP.
  • Peugeot Invest 
    Advising Peugeot Invest, an investment company controlled by the Peugeot family, with respect to their investments in several private equity funds.

Experience advising on carried interest, co-investment, management arrangements, platform design, and ongoing governance for fund managers and executives.

  • Lonsdale Capital Partners
    Advising on the consolidation of carried interests in a newly-created permanent multi-fund carry partnership for the group’s single-asset co-investment partnerships.
  • Low Carbon 
    Advising the fund management team on their carried interest and co-investment partnership LPAs and subscription agreements.
  • Lonsdale Capital Partners 
    Negotiating and drafting co-founder’s exit agreement and post-retirement interests, incl. LPAC clearance and amendments to manager’s LLP deed and co-invest/carry LPAs.
  • Sackville Capital
    Advising this UK investment fund manager on the joint venture with an emerging fund manager and their first fund and the ancillary carried interest arrangements.
  • 500 Startups 
    Advising 500 Startups on an ongoing basis in relation to pre-seed, seed and series round investments in UK based businesses.
  • Goldman Sachs 
    Advising the New York Merchant Banking Division on private funds aspects in relation to developing an automated platform for institutional LPs.
  • Yana Investment Partners 
    Establishment of new co-investment advisory/placement business. Negotiating mandate agreements with institutional investors and family offices.

Experience advising on the structuring, negotiation, and execution of GP-led secondaries, continuation vehicles, and liquidity solutions for private funds and their investors.

Kline Hill Partners

  • Acorn Sentry Aerospares CV secondary acquisition
    $350 million secondary acquisition, enabling efficient portfolio management and supporting strategic growth in the aviation sector.
  • PHI Continuation Fund I formation
    Structuring and launching a €212 million continuation fund, enabling ongoing investment in high-performing assets.
  • Phoenix PEP Growth Partnership L.P
    £260 million secondary deal, providing strategic legal guidance to optimise fund performance and investor returns.
  • Investcorp Technology Partners Nexus 
    $100 million secondary investment, enhancing access to innovative technology assets.
  • Anchorage Co-Investment Fund V secondary transaction 
    $250 million secondary transaction, delivering liquidity solutions for co-investors.
  • Anchorage Capital Partners continuation vehicle investment 
    $135 million co-lead investment into a continuation vehicle organised by Anchorage Capital Partners, delivering liquidity and portfolio flexibility.

Five Arrows Secondary Investments

  • Sagard Continuation Funds structuring
    €250 million continuation funds, ensuring seamless asset transition and investor alignment.
  • LEA Continuation Fund formation 
    €650 million formation of a continuation fund, supporting long-term growth strategies.
  • EMZ Partners Labelys and Vulcain Engineering continuation vehicle commitment
    €80 million commitment to a continuation vehicle managed by EMZ Partners, supporting strategic investment in French industrial and engineering firms.
  • Eurazeo I-TRACING Continuation Vehicle
    Advised TPG and Five Arrows as co-lead investors on their respective commitments to a €180 million single asset continuation vehicle managed by Eurazeo to support the growth of iTracing.

Other

  • Hayfin Implio Orphan Drugs AB secondary sale
    €650 million secondary sale, facilitating liquidity and continued investment in the life sciences sector.
  • Phoenix PEP Growth Partnership L.P secondary transaction
    £260 million secondary deal, providing strategic legal guidance to optimise fund performance and investor returns.
  • Bid Equity Continuation Fund I formation 
    A $300 million continuation fund, supporting long-term value creation for portfolio companies.
  • Ardian Expansion Syclef Continuation Fund structuring
    €530 million structuring of a continuation fund, enabling the retention and further development of key assets.
  • AXA Astorg Normec Fund secondary sale
    €1.44 billion secondary sale, providing comprehensive legal support for a major portfolio reorganisation.
  • Apheon TMC HDC Long Term Value Fund formation
    €435 million formation of a long-term value fund, enabling sustained investment in technology and healthcare.
  • TPG Citadel Continuation Fund SLP structuring
    €180 million continuation fund, facilitating ongoing management of core assets.
  • Hayfin Investcorp Technology HWG CV-Lux secondary investment 
    €240 million secondary investment, advancing strategic objectives in the technology sector.
  • Greenpeak Partners Greenpeak Continuation Fund I structuring 
    €347 million continuation fund, enabling efficient asset management and investor alignment.
  • L Capital Partners L Squared Capital Partners FineLine CV LP secondary transaction 
    $155 million secondary transaction, providing legal expertise to streamline fund operations.

Awards and Recognition

Latest News & Insights

Carousel Images3
Private Capital & Funds

Stephenson Harwood advises Middlefield Canadian Income fund on groundbreaking ETF transition

Find out more
Carousel Images5
Corporate

Stephenson Harwood advises Acumen on launch of African clean energy fund

Find out more
Carousel Images2
Private Equity

Stephenson Harwood advises Civica on acquisition of OLM Systems

Find out more
Carousel Images11
Funds

Stephenson Harwood advises KWAP on US$1.4 billion Dana Pemacu private capital investment initiative

Find out more

Get the latest updates from our Private Funds team

Subscribe