AREAS OF PRACTICEInvestment funds

RCD has a team of professionals with proven experience providing strategic and comprehensive advice to all types of private equity funds, including specialists in the regulatory, tax, and corporate and commercial fields

Extensive knowledge of the sector, proximity to regulatory bodies, and a multidisciplinary approach to protecting clients' interests (both investors - private and institutional - as well as fund managers, promoters, and marketers - ESIS and private banks), allows the fund structuring team to be a leader in advising private equity, venture capital, and other investment funds.

RCD has added further value by integrating the Private Wealth advisory area (recognised as one of the leading firms in taxation of high net worth individuals in Spain by Chambers HNW (High Net Worth Guide - Private Wealth Law in Spain) into its Funds team, which allows for the proper tax planning both for the structure and the marketing of funds to investors, as well as designing tax-efficient structures to channel the management and success fees (carried interest) and completing regulatory-tax analyses of the underlying structures.

We also add to our comprehensive advice to funds and their managers with our transactional teams, whose abilities enable us to advise funds on their investment and divestment transactions, bringing our proven experience in M&A transactions to the table.

Our team advises all types of investors and funds covering all industries, assets, and strategies, including primary, secondary, and co-investors in private equity and venture capital, real estate, energy, infrastructure, impact and sustainable, biotech, and agritech/foodtech funds; funds of funds, debt funds, hedge funds, and alternative asset management.

Services

  • Advising management companies (SGIICs (Management Companies of Collective Investment Institutions) and SGEICs (Management Companies of Closed-End Collective Investment Institutions)) and all types of managed vehicles, including collective investment schemes (IIC), venture capital entities (SCR, FCR, FCRE), and closed-end collective investment schemes (EICC) on fund formation transactions, with special attention to the interests of investors, managers, and promoters
  • Providing advice on recurring regulatory, tax, and corporate matters to all types of regulated funds and fund managers, with a particular focus on regulatory and tax eligibility analyses of underlying assets
  • Structuring private equity, venture capital, infrastructure, energy, impact and sustainable, agri-foodtech, biotech, and real estate funds, funds of funds, debt funds, and hedge funds
  • Advising investors - institutional, financial, and private (family offices and industrial) - on entry into domestic and international funds
  • Preparing and negotiating subscription agreements, commitment letters, by-laws and shareholders' agreements, and co-investment structures
  • Advising promoters, advisors, and managers, and structuring carried interest
  • Advising fund managers, promoters, and marketers on fund distribution and commercialisation structures
  • Advising on investment, divestment, and liquidation processes of investment funds and companies, providing our legal services in seed capital and start-up transactions for venture capital and private equity companies, advising funds, promoters, and managers in this type of investment, carrying out legal due diligence procedures, negotiating the standard conditions of entry and control, and monitoring the investment (valuation adjustments, preferential rights, incentive plans, financing and restructuring, etc.) and designing exit and disinvestment transactions