Investment Law

We advise on the establishment, management and marketing of investment funds under the German Investment Code (“Kapitalanlagegesetzbuch”, KAGB), including the representation in the authorization/registration process of alternative investment fund managers (AIFM) before the Federal Financial Supervisory Authority (“Bundesanstalt für Finanzdienstleistungsaufsicht”, BaFin) and advise on ongoing compliance requirements under the KAGB. This includes:

  • Establishment and documentation (i.e. memorandum/articles of association) of domestic closed-ended real estate funds (e.g. Special-AIF)
  • Examination of the licensing requirements for AIFM to obtain authorization from BaFin
  • Preparation and drawing up of sales prospectuses, investment conditions and key investor information
  • Appointment of the depositary or trustee (depositary agreement)
  • Outsourcing of AIFM tasks
  • Representation of AIFM clients in the authorization process before BaFin
  • Legal assessment regarding the ongoing requirements of the KAGB in conjunction with AIFM-Directive and Level II-Regulation (EU) 231/2013 for investments of AIFM (e.g. leverage, eligible assets, issuer and investment limits)
  • Examination and performance of specific obligations under the KAGB on behalf of AIFM (e.g. notification and disclosure obligations in case of acquiring control pursuant to sec. 289 et seq. KAGB)
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