Investment Management

Kees Groffen
Eva Schram
Mariska Enzerink
+ 0 other experts

Experts across the full fund lifecycle

Against a continually changing legal, economic and regulatory backdrop, our Investment Management experts are at the forefront of all new developments across the full fund lifecycle.

We advise managers and investors on the formation, structure, operation and regulation of:

• broad range of investment funds (including retail funds (both UCITS and AIFs), real estate funds, infrastructure funds, private equity funds, hedge funds and venture capital funds);
• asset pooling structures;
• investment management agreements; and
• fiduciary management agreements.

We have in-depth knowledge of the specific requirements applicable to Dutch pension funds and insurance companies. We are regularly involved in drafting industry principles on behalf of InvestEurope, the Dutch Private Equity Association (NVP) and the Dutch Fund and Asset Management Association (DUFAS).

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Financial Markets & Regulation

Recent Matters

13 January 2021

PME sells interest in PVF Zakelijk Hypothekenfonds to RNHB B.V.

De Brauw has advised on the sale of the EUR 900 million mortgage loan portfolio of PVF Zakelijke Hypotheekfonds.
8 April 2018

Redevco enters into a EUR 550 million joint-venture with PGGM

Redevco concluded a joint-venture agreement with PGGM Vermogensbeheer B.V. (acting on behalf of the PGGM Private Real Estate Fund). As part of the newly concluded joint-venture, which will carry the name Urban Retail Ventures, the parties aim to invest in attractive retail assets in established retail and / or tourist destinations. Redevco and PGGM have committed a combined amount of EUR 550 million to the joint-venture. In the run-up to the signing of the LPA and accompanying documentation, a challenging and time-sensitive structuring process took place with an aim of finding the most beneficial vehicle structure from both a regulatory, corporate and tax perspective. Ultimately, this led to a structuring in which the joint-venture vehicle has the form of a Dutch CV while the Redevco management company is located in the UK. Redevco is a pan-European retail real estate investment management company with key offices located in the UK and the Netherlands. As part of its expansion strategy, Redevco is looking to increase its presence as a real-estate and asset manager in the European market. PGGM Vermogensbeheer B.V. is a large institutional manager and has invested in the joint-venture through its collective vehicle PREF (mainly including pension-fund investors). Team: Kees Groffen, Mariska Enzerink and Wiebe Dijkstra. Read more here.
5 March 2018

Bouwfonds IM sells portfolio valued at EUR 4bn

Bouwfonds IM completed the disposal of a large part of its business. This in line with the strategy of its shareholder - Rabo Real Estate Group - to cut back activities in the field of fund and asset management. The transaction concerns all activities of the business unit Parking, most of the activities of the business unit Residential and the German communication infrastructure fund (BCIF II). The managers that were responsible for the relevant business units will continue the business under the name Primevest Capital Partners and are financially supported by Commonwealth Investments B.V. Through the completion of the transaction, Bouwfonds IM intends to continue to serve the interests of its customers, employees and other stakeholders in the best possible manner whilst executing the divestment strategy of the Rabo Real Estate Group. Prior to completion, a complex and challenging international restructuring of the activities of Bouwfonds IM took place in to set apart the relevant activities from the business to be retained by Bouwfonds IM. In this process, De Brauw acted as lead counsel and advised on a broad scale of subjects including transaction documentation, deal structuring, employment, regulatory and tax. Team: Michael Schouten, Kees Groffen, Mariska Enzerink and Mick Gerrits. For more information, read here.

The firm's meticulousness draws praise from clients - the lawyers 'are very precise without losing time' before explaining. Another commends the firm for 'taking into consideration the tactical aspects as well as the legal aspects'. The lawyers are 'kind, helpful, available and very accurate'.

Chambers Europe, 2021
Chambers Europe, 2021

Insights

28 April 2021

Bill on UBO register for trusts and funds for joint account sent to Dutch lower house

A bill introducing a UBO register for trusts and funds for joint account (fondsen voor gemene rekening) was submitted to the lower house of the Dutch parliament on 26 April 2021. The register will be kept by the Chamber of Commerce in the Netherlands.
10 July 2020

Dutch Supreme Court: credit claims can be assigned and securitisation vehicle has duty of care

The Supreme Court decided on 10 July 2020 that banks can validly assign credit claims to non-banks, also if the underlying loans are non-performing or have been terminated. It also decided that if the assignee is not a bank, it can be required to observe the same duty of care towards debtors as would apply to a bank under the given circumstances. As such, the Supreme Court's decision not only confirms existing practice, but also provides guidance for future securitisations of Dutch loans.
7 July 2020

Dutch legal entities to register their ultimate beneficial owners from 27 September 2020

The UBO register, to be kept by the Trade Register, will become operational in the Netherlands as per this date, and all Dutch legal entities, including foundations, will have to register. Each legal entity has its own definition of a UBO, but common across all these definitions is that the UBO is a natural person who ultimately owns or controls the entity. If there is no UBO based on this definition, a "pseudo-UBO" must be appointed. All managing directors and managing partners – at any type of entity – will be regarded as pseudo-UBO.

Team

Eva schram

Eva Schram

Counsel

Mariska enzerink

Mariska Enzerink

Senior Associate