HEDGE FUNDS

Within the area of collective investments, the firm has a very significant presence in the Hedge Fund sector, working in a recurrent manner with a major number of funds in their operations in Spain and Portugal. We are one of the leading firms in this sector. The Spanish economic situation (and Iberian situation, in general) has caused a significant portion of hedge funds to analyze and execute transactions on the Iberian Peninsula seeking high returns. In this type of investment it is essential to have a sophisticated legal team that understands the investment, that is familiar in detail with applicable local laws and that understands the dynamics developed in each investment.

In this economic environment the firm has consolidated itself as a leader, with significant experience in credit acquisition transactions, both in the purchase of debt portfolios (consumer credit, mortgage debt, public debt, etc.) as well as in the analysis and execution of unique corporate credit acquisitions. Very significantly the firm has among its clients several of the most relevant asset firms in the market (both in equity and in debt), as well as loan-for-control funds, having participated in the most relevant transactions in this sector.

In the Hedge Fund sector, the firm collaborates actively and on a regular basis with the London and New York offices, where advice to hedge funds constitutes one of the fundamental practices. Both the location of many of these funds in London and New York as well as the generalized use of foreign laws in the credit documents make the interaction in this sector with international firms constant.

The advice we provide in the sector includes:

  • Acquisition and sale of debt portfolios (with or without in-rem collateral).
  • Analysis of distressed situations in the Iberian market, including detailed analysis of capital structures and potential investments therein (in any place of the capital structure).
  • Re-structuring of credit positions in companies, advising both on bilateral credits as well as syndicated transactions, private placements and bondholder syndicates. This includes advice both in the pre-insolvency phase as well as in the insolvency proceeding phase.
  • Funding on the primary market, including bail-out or emergency financing transactions.
  • Analysis of investment opportunities in State and Autonomous Community debt, and both financial and commercial debt. Design of procedural strategies and lawsuits claiming amounts owed.
  • Advice to equity funds on their investments, including those based on arbitration situations.
  • Advice to asset funds on the design and execution of their strategies in Spain.