Which firms/partners have a good Investment funds practice in India? Factors like clientele, quality of work, and knowledge/skills should be considered (not exhaustive tho).
Really want to get an idea of places to apply at and places to avoid.
What a noob. SAM has done the most number of REIT registrations and you are saying they don’t have a funds practice!!!! Please tell us what are you smoking
Angrezi weed, do you want to share !! There are only a single digit REITs in India and may be 1-2 have been done by SAM. Whereas there are close to 950 Funds (AIFs) in India, of which again SAM has done single digit only. Yeh kaisa funds firm hua?? Desi phoonk rahe ho lagta hai..
Woaaahhhh Budddyyy. Unlike you I don’t need to smoke shit to get things straight. Setting up an AIF for a nobody is not a big deal. So why don’t you keep your sweatshop analogy to your self and go back crawling to where you came from.
Factory for investment funds. Copy Paste and get done. Clients like due to lowest fees in the market. Join KCO which has the best funds team headed by Sid Shah.
Clients like a place if it offers good value for money. Team likes a place because the firm gives a good work life balance whilst paying the best in the industry and not making 1 person do the job for 2. ICUL seems to be a very Good funds factory in that sense :)
Sebi law for past few years has mandated a prescribed format of ppm to be used by every fund from which no law firm can deviate while drafting. amazed to see the extent to which somebody can go for the sake of criticising even at the cost of sounding hilarious (using old format..!!) one cant be from funds field and write such a comment
ICUL is known to charge highest fee in the market for funds, whilst justifying it due to their market position and quality clientele. Despite the premium billing, they have been a factory which is then self explanatory about their work quality. KCO is pretty good and Sid Shah is excellent but then are not a match to the team size and work volumes which ICUL has.
It is the most boring and repetitive job on earth - worse than capital markets. Even a robo could copy paste and change the documents. Please avoid the area at all costs.
Is funds practice actually this boring? I was thinking of joining funds practice. I have just finished my 3rd year and will be interning with funds team of a T1. Should I shift to PE/M&A ? PS: After a lot of efforts I have been able to secure this internship at T1. Any guidance on shifting or if I should shift at all?
I think hardcore funds practice won't be fun since there are only so many issues you can deal with while setting up a fund. Only so many permutation and combinations and only so many tax and usual commercial issues.
Doing some funds work along with a PE/VC practice is great since it gives you an insight into what your client has to grapple with. But you can know this if you do 3-5 equity funds and a 2-3 debt funds.
We have very few hedge funds and that number isn't likely to increase soon due to the lack of pass through status for Cat III AIFs. But even if you're setting up a hedge fund, doing a 2-3 open ended funds should give you a good idea about drafting for and thinking through the redemption process. The complex trading strategies of a hedge fund wouldn't really impact the distribution much.
So, I think doing only funds work will get boring quite quickly. Which isn't to say that doing PE/VC/M&A work is super interesting or god's work in any way. Diligence gets boring very soon too but PE/M&A is generally more bespoke and so there are more translation templates that you need to know and understand. Ultimately, you ou just have to choose the devil you can live with and that is largely dependent on the people you work with.
Do remember that there are fewer exit options for funds lawyer than PE/M&A lawyers. So there's that to consider.
Funds may seem boring based on documentation process but is in no way a practice comparable to Cap marks.
And the reason for that is the negotiation and structuring of the fund(s) which means you invariably dabble in SEBI regulations and RBI laws (fema, NDI Rules and Debt regulations). And this isn't an exhaustive list, mind you.
Really want to get an idea of places to apply at and places to avoid.
However, from a first hand experience, I would suggest avoid Trilegal if you want a good work-life.
KCO, Trilegal, SAM, CAM, NDA and IC legal
Please tell us what are you smoking
Budddyyy. Unlike you I don’t need to smoke shit to get things straight. Setting up an AIF for a nobody is not a big deal. So why don’t you keep your sweatshop analogy to your self and go back crawling to where you came from.
If I give anymore details (fund name, investment manager), the reply won't make it through moderation.
PS: After a lot of efforts I have been able to secure this internship at T1. Any guidance on shifting or if I should shift at all?
Doing some funds work along with a PE/VC practice is great since it gives you an insight into what your client has to grapple with. But you can know this if you do 3-5 equity funds and a 2-3 debt funds.
We have very few hedge funds and that number isn't likely to increase soon due to the lack of pass through status for Cat III AIFs. But even if you're setting up a hedge fund, doing a 2-3 open ended funds should give you a good idea about drafting for and thinking through the redemption process. The complex trading strategies of a hedge fund wouldn't really impact the distribution much.
So, I think doing only funds work will get boring quite quickly. Which isn't to say that doing PE/VC/M&A work is super interesting or god's work in any way. Diligence gets boring very soon too but PE/M&A is generally more bespoke and so there are more translation templates that you need to know and understand. Ultimately, you ou just have to choose the devil you can live with and that is largely dependent on the people you work with.
Do remember that there are fewer exit options for funds lawyer than PE/M&A lawyers. So there's that to consider.
And the reason for that is the negotiation and structuring of the fund(s) which means you invariably dabble in SEBI regulations and RBI laws (fema, NDI Rules and Debt regulations). And this isn't an exhaustive list, mind you.