A&O Shearman's 'excellent' team is sought after by sovereign wealth funds and asset managers and is well-equipped to handle some of the largest mandates in the UAE. The group is equally well-versed advising on the restructuring and liquidation of funds, the establishment of funds, capital raising and fund investment, and Shariah-compliant fund work, all the while keeping abreast of regulatory and compliance concerns. Kamar Jaffer, who is noted for her ability 'to navigate through complex matters’, jointly heads the practice alongside banking and financing specialist Jodi Norman.

Highly regarded for its ‘comprehensive advice, especially for offshore structuring and local laws’, King & Spalding LLP works with an enviable list of financial sponsors and asset managers on outbound-focused investment fund structures and innovative transaction structures for a wide array of sector investors. The firm is also reputed for its strong track record in structuring complex, cross-border Shariah-compliant transactions, where the team is able to draw on the firm’s wider financial services regulatory offering. The team also handles a steady flow of instructions from sovereign wealth fund and high-net-worth clients. James Stull is a key relationship partner for many of the firm’s most high-profile real estate funds and REITs and is also a key adviser for regional securities laws. Nabil Issa is a go-to for Saudi Arabian entities and has a far-reaching sector expertise that includes healthcare, fintech, education and food and beverage. Macky O’Sullivan is well-versed in conventional and Shari’ah compliant funds and senior associate Sayf Shuqair has supported on a litany of premium funds work. Counsel Dounia Mansour joined from Dechert LLP in August 2023.

Morgan, Lewis & Bockius LLP has a dominant position in the UAE market, acting for leading sponsors and investors on the formation of funds pertaining to venture capital, private credit, private equity, and real estate and infrastructure assets, demonstrating a broad coverage of activity across the GCC. The group also competently handles the inbound and outbound investments of large Shariah-compliant funds, often working with asset managers looking to raise debt or equity. Ayman Khaleq is a key contact for many of the firm’s top clients, chiefly focusing on structuring complex cross-border investment transactions through offshore financial centres and free-zones. William Nash has recently overseen hedge fund formation matters in the ADGM and Alishia Sullivan has experience of acting for sovereign wealth funds and investors in the region. Carolyn Abram brings regional and global fund formation experience from years working in London and New York. Associate Andrea Dougall is also noted. Since publication, Amanjit K. Fagura left the firm.

A near-unrivalled one-stop shop due to its ability to act on fund formation, execution and investments, Norton Rose Fulbright‘s client roster includes sovereign wealth funds, investment holding companies, and financial institutions. The practice is led by Zubair Mir and Geoffroy Hermanns, who stand out for their knowledge of the market and wider region. Matthew Shanahan adds expertise in regulatory knowledge. Recently, the group has acted on a range of Shari-ah compliant sub-funds, the establishment of an array of sector-focused funds, particularly energy, and assisted with major investments into funds. The team is lauded for it’s ‘proficiency across the ranks’, and associate Shakir Mogalia notably stands out as an integral supporting presence on multiple mandates, working across a range of asset classes such as private equity funds, real estate funds, and debt funds.

Addleshaw Goddard bolstered its position in the UAE market through the hire of Philip Dowsett from Dechert LLP in July 2023, a funds-dedicated practitioner who has over 15 years of regional experience and has strength working with sovereign wealth funds, private equity and venture capital firms. Victoria Mesquita is a key name for fund financing instructions and has expertise handling work in the healthcare and energy sectors. The firm also has broad multi-jurisdictional coverage, aiding Middle Eastern funds with investments in the UK and European real estate market, and working with global entities on investments in the GCC.

Simmons & Simmons Middle East LLP‘s funds and regulatory practice handles a considerable volume of high-value deals for many of the globe’s largest asset managers. The team is equally competent across conventional and Islamic structurings, and has been involved in several market firsts that include the first-ever credit fund and the first ICC structure in the DIFC. The Dubai office is headed by Muneer Khan, who is noted for his Shariah-complaint funds work. James Coleman has recently handled matters for private equity funds, hedge funds, investment managers. Managing associate Adam Wolstenholme is another name to note.