Investment Funds

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Another core practice of the firm is representation of investors in private equity and other funds, particularly public institutions acting as anchor investors in emerging market funds. In recent years, we have represented a dozen development finance institutions on their fund investments, many on multiple deals. HSM also represents general partners in the formation of funds, particularly emerging managers targeting public institutions as investors.

We have represented investors on more than 45 investment funds transactions representing $2.5 billion in capital commitments. These representations involved:

A broad range of circumstances and investment strategies
Varied fund jurisdictions – from Delaware to Cayman, Ontario to England, Mauritius to Luxembourg – and target markets on virtually every continent
Funds that numbered among their limited partners some of the largest and most influential investors in the space.

As a result, HSM understands the full spectrum of fund terms and conditions, what is “market”, and variations within terms. And, we have a proven track record of efficiently closing funds deals.

Government-guaranteed lending

We represent sponsors, borrowers, lenders, and government guarantors on a wide range of projects benefitting from investment support, either in the form of government guarantees or financing from development finance institutions. In the United States, we have in-depth experience with the investment support programs of Overseas Private Investment Corporation, U.S. Export-Import Bank, and U.S. Department of Agriculture, to name a few. We have also worked extensively with programs offered by multilateral and other development finance institutions including International Finance Corporation, Africa Development Bank, and European Investment Bank.

Cross-border and emerging market investment

Our experience includes structuring, negotiating, and documenting transactions in a wide range of market sectors. We have particular expertise in emerging markets. Over the years, we have advised on numerous project and structured finance and leveraged equity transactions in more than 50 emerging market countries. Our clients appreciate our ability to anticipate and efficiently manage the effect of local law issues on a transaction. In many countries we have established strong relations with outstanding local counsel. We advise U.S. clients on their non-U.S. investments and non-U.S. clients with respect to projects involving U.S. investment.

Investment Funds

A core practice of the firm is representation of investors in private equity and related investment funds, and particularly public institutions investing in funds that operate in emerging markets. Our experience includes representing investors in connection with over 45 such funds and advising on the design and implementation of fund of funds programs and investment fund formation.

Sovereign representation

Our lawyers advise the U.S. Government, multilateral, and international organizations, and other sovereigns. Advice has included analysis of natural resource, power, transportation, privatization, trade, and investment legislation, and policies. In many instances the representation required drafting assistance on a range of laws, regulations, and agreements, including company and privatization laws, model concession agreements, and government procurement procedures.

Corporate and General

Our attorneys represent private and public sector entities in connection with debt and equity financings, private placements, debt restructurings, stock and asset sales and acquisitions, joint ventures, outsourcing agreements, and the privatization, construction and financing of infrastructure projects. We have structured, drafted and negotiated a wide variety of debt offering and loan agreements, stock and asset sales and purchase agreements, equipment leasing and purchase agreements, joint venture agreements, licensing agreements, construction agreements, operating agreements and related security agreements. In addition, we routinely advise on corporate organization and governance matters.

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