Acting for sponsors and limited partners, Alma LED's investment funds department has an enviable market reputation for its expertise in a range of asset classes, including real estate, private equity, venture capital, private debt and credit funds. The practice also houses specialists in blockchain, direct lending and impact investment funds. With extensive experience in the asset management and investment funds sectors, Alessandro Corno is ‘the most knowledgeable lawyer in this practice in Italy’, according to one client; while Celeste Cenedesi routinely advises on the establishment of alternative investment schemes.

Greenberg Traurig Santa Maria boosted its fund formation practice in April 2024 through the hire of Eriprando Guerritore (and his team) from Gatti Pavesi Bianchi Ludovici. Regularly working alongside the firm’s corporate, real estate investment, tax finance specialists, the group acts for fund sponsors, initiators, GPs and FoFs in complex domestic and cross-border transactions involving real asset projects. ‘Go-to person’ Guerritore has longstanding experience in advising on the structuring and launch of complex domestic and international fund projects. Milan-based Guerritore also advises on the regulatory side to supervised and licensed entities.

Acting for asset management firms, shareholders and investors, Legance - Avvocati Associati's investment funds department comprises fund formation experts. The team is particularly experienced in private equity, venture capital, private debt and real estate funds, as well as funds investing in illiquid assets, such as infrastructure, renewable energy and mezzanine finance. Enzo Schiavello focuses on the structuring and establishment of alternative investment schemes; and ‘wise adviser’ Barbara Sancisi is sought out by alternative asset fund managers, institutional investors and investment advisers. The practice also includes Federico Vezzani and Riccardo Daguati.

The banking and financial markets regulation practice in Bird & Bird's Italian  offices has significant investment funds expertise. The group advises national and international management companies and investors on real estate, credit and private equity alternative investment funds. The Milan-based group showcases Raimondo Maggiore, who assists Italian and international asset management companies with structuring alternative investment funds; and Rossella Sansone, an expert in asset management and financial services. The department further includes Giovanni Bevilacqua, who regularly acts for Italian and EU fund managers on real estate alternative investment fund structures.

Routinely working alongside the firm’s banking, insurance, real estate, corporate, tax and finance groups, Chiomenti's investment funds team is experienced in setting-up investment funds, as well as transactions involving funds. The practice is co-led by Vincenzo Troiano, a regular adviser to pension funds, open-ended investment companies, real estate investment trusts, and reserved alternative investment funds; and Alessandro Portolano, whose career includes working at the Bank of Italy. Other key practitioners are Giuseppe Andrea Giannantonio, who assists with transactions involving real estate investment funds, and Felice Azzollini and Flavia Pagnanelli.

CMS‘ Italy team comprises specialists in fund formation, regulatory issues and transactions, in relation to private equity, real estate, energy, infrastructure, hedge, venture capital, credit and debt funds. The practice is jointly led by Rome-based Paolo Bonolis, ‘a guarantee when it comes to competence’, who regularly acts for funds on regulatory and transactional mandates; and Andrea Arcangeli, who works across the firm’s Rome and Milan offices, and is an expert in fund formation as well as regulatory matters. Massimo Trentino, Maria Giovanna Pisani and Alfredo Gravagnuolo are other key practitioners.

DLA Piper's investment management and funds practice in Italy acts for Italian and international fund managers, collective investment schemes, and institutional investors on both transactional and regulatory matters. The group is headed up by financial services and investment funds specialist Agostino Papa, who is ‘one of the market’s great players’. The team further includes Nicoletta Alfano, an adviser on financial services regulation; Edoardo Campo, who is experienced in asset management, as well as private equity, real estate, social housing and infrastructure funds; and the ‘technical and prepared’ Eusapia Simone.

The investment funds and financial services practice at Gatti Pavesi Bianchi Ludovici routinely leverages the expertise of the firm’s private equity, real estate, tax, and banking and finance departments. With significant experience in financial, asset management, banking and investment services regulation, the team’s coverage ranges from the initial stages of fund formation to ongoing regulatory compliance and strategic advice. An adviser to international funds on their alternative investments, practice head Raffaele Sansone is a June 2024 hire from Gianni & Origoni. Eriprando Guerritore and Claudio Saba  both departed the firm in April 2024.

Giovannelli e Associati Studio Legale assists domestic and international funds managers and sponsors with the structuring and set-up of their investment funds. The group’s sector expertise ranges from private equity, venture capital and real estate, to private debt, distressed credit, and unlikely-to-pay and non-performing loans. It also assists with regulatory matters. The ‘best Italian lawyer around for fund formation work’ (according to one client), Giovanni Meschia, who acts for fund managers and sponsors, is a November 2023 recruit from K&L Gates, from where regulatory specialist Rodolfo Margaria also joined in January 2024.

Simmons & Simmons' Milan office advises private equity and real estate funds on a range of alternative fund mandates. The financial services and alternative funds department also acts for institutional investors, banks, financial intermediaries, investment companies, family offices, and HNW individuals. Experienced in asset management, investment funds and market regulation, Romeo Battigaglia heads up the financial markets practice in Italy, where Andrea Tonon is alternative funds group head. Tonon is an expert in private equity, private debt, venture capital and real estate funds, funds of funds and co-investment and infrastructure funds.

Clifford Chance's team is experienced across a range of investment funds products. The practice is noted for its track record in UCITS products and AIFMD investment vehicles, including in relation to private equity, real estate, and private debt and credit. The group’s principal figures are Lucio Bonavitacola, an expert in banking and financial regulations and funds-related work; and Alberto Claretta Assandri, who assists with fund formations and regulatory issues.

Experienced in real estate, private equity and credit fund formations, Dentons' practice regularly works alongside the firm’s real estate and corporate M&A teams. With ‘deep knowledge of the Italian and EU funds market’, Alessandro Engst leads the Italian financial services group. Engst advises banks, fund managers, investment firms, insurance companies, payment institutions, fintech companies and pension funds on regulatory matters, as well as  the establishment and regulation of investment funds.

FIVERS Studio Legale e Tributario's asset management expertise covers the establishment of investment funds, including venture capital, real estate and private equity investment funds. The practice also assists with distributing units in Italian and foreign funds. Francesco Di Carlo 'has outstanding experience'; Edoardo Guffanti is an expert in banking and investment sector-related compliance; Francesco Mantegazza specialises in domestic and international taxation; and Flavio Acerbi is a market abuse specialist.

Gianni & Origoni‘s ‘client-oriented’ investment funds department advises on the gamut of asset management mandates, including establishing a range of investment funds. Emanuele Grippo's practice covers investment services, asset management and pension funds; Paolo Bordi  'distinguishes himself through his deep legal expertise’; Davide Braghini focuses on the real estate sector; and regulatory law expert Claudia Colomba is another key practitioner. Former partner Raffaele Sansone departed the firm in June 2024.

The Rome-based team at Hogan Lovells International LLP acts for asset management companies, banks and investment funds and firms on regulatory matters. Head of the financial services regulatory practice in Italy, Jeffrey Greenbaum's extensive practice covers mutual funds, payment services, banking regulation, insurance, investment services, compliance, and anti-money laundering. Also key to the group, Elisabetta Zeppieri acts for domestic and foreign banks, payment institutions, e-money institutions, and financial intermediaries.

The result of a January 2024 merger between Pedersoli Studio Legale and Gattai, Minoli, Partners, PedersoliGattai's funds practice assists managers and investors with the structuring, marketing and management of collective investment schemes, which are active in the real estate, private equity, venture capital, impact investing, infrastructure, energy and other alternative asset sectors. Giovanni Giuliani focuses on financial markets law, asset management and investment funds, while Giovanni Bandera ‘provides high-value advice’.

Focused on Italian asset management companies, ADVANT Nctm specialises in private equity, credit and venture capital funds. A December 2023 recruit from McDermott Will & Emery Studio Legale Associato, practice head Emidio Cacciapuoti advises on Italian and international investment funds, co-investment agreements, carried interest schemes, and the establishment of alternative fund managers.

Specialising in the asset management industry, Aster Avvocati Associati is particularly focused on the alternative investment funds sector. The firm was co-founded in August 2023 by former Alma LED senior associates Andrea Venturini and Tommaso Pepe., who both assist asset management companies and financial operators with investment initiatives and extraordinary operations.

Cappelli Riolo Calderaro Crisostomo Del Din & Partners‘s three-member department assists with structuring, setting up and establishing investment funds. The practice’s scope covers credit, restructuring, turnaround, direct lending, real estate, private equity and venture capital funds. Gabriele Buratti is a banking, finance, investment, insurance and collective asset management regulation expert.

GIM Legal routinely advises asset management companies and investment managers. Its expertise covers setting up in Italy, along with CONSOB and Bank of Italy authorisations. Managing partner Luigi Rizzi is an investment funds regulation specialist; while the experience of Sergio Beretta covers real estate, private equity and venture capital funds.

Linklaters Studio Legale Associato assists investment managers with fund formations and related financial regulation. Dario Longo, whose practice covers the entire cycle of financially-regulated assets, heads the structured finance and financial regulatory practices. Providing key support, Anna Ferraresso advises private equity funds on M&A, financings, setting-up regulated entities and compliance.