Our client is an asset manager with over USD4bn assets under management, specialising in real estate, private equity, credit, and wealth management. With offices in key cities in the US, UK, Europe and the Middle East, the business manages assets for clients around the world through a global investment strategy
Client's challenge
Our client sought to provide its investors with comfort that their investments were safeguarded in a reputable jurisdiction with a highly regarded service provider.
With a preference of ring-fencing different assets in separate SPVs, the client required a responsive service provider that could move quickly to establish SPVs in various jurisdictions to meet deal deadlines.
The Outcome
Hawksford coordinate the incorporation and ongoing management of SPVs in multiple jurisdictions including Jersey, the Cayman Islands and Delaware. Different jurisdictions are required for the SPVs in order to facilitate investments within international markets.
Hawksford continue to provide full services to these SPVs, working closely with the client as the investment adviser to the structure. Management and control of the SPVs remains on-island with Hawksford providing full services including directorships, company secretary, registered office, administration, FATCA/CRS and VAT reporting, bookkeeping and accounting and assisting with the provision of effective corporate governance.
How were we best placed to assist?
Once the SPVs are established by Hawksford, we then manage and co-ordinate the purchase of assets. With a highly skilled team experienced in transactional work, we liaise with advisers, review and ensure the accuracy of sale and purchase agreements and various other completion documents, hold board meetings to approve the transactions, and effect the flow of capital from our client to the sellers in order to complete purchases within tight timeframes.
Of note was the purchase in 2020 of a multi-million-pound piece of prime London commercial real estate based in Mayfair. Two Jersey SPVs were incorporated within a quick time frame to facilitate the purchase. The transaction was completed during the COVID-19 pandemic, with our team working diligently to navigate the challenges associated with government lockdown without any disruption to the client.
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