EY Law assisted DEAS to expand its investment fund activities business in Finland.
DEAS Asset Management (“DEAS”) has acquired the plot funds as well as their respective feeder funds from Korkia Capital Ltd and Korkia Ltd., whereby the funds have been transferred from the current alternative investment fund manager (AIFM) Korkia Capital Ltd to DEAS.
The funds invest in assets in residential plots located in the Helsinki metropolitan area and other growth and regional centers as well as their surrounding municipalities in Finland, and they have been offered to professional and experienced non-professional investors in Finland. One of the funds is a light-green (SFDR article 8) fund promoting environmental and social characteristics and taking into account principle adverse impacts in its investment activities. The transaction has been approved by the Finnish and Danish Financial Supervisory Authorities.
The cross-border transfer of the management of Finnish limited partnership funds involved complex legal and regulatory aspects and it is the one of the first of its kind in Finland. EY Financial Services Legal had the opportunity to assist DEAS in this rare transaction from the financial market, regulatory and investor related legislation point of view. Together with our M&A Law team we were able to seamlessly combine our expertise efficiently.
EY provided DEAS with streamlined and holistic Legal M&A & Financial Services, Commercial, Tax, Financial and Legal Due Diligence advice through the entire transaction process.
Sanna Puhakainen, Head of DEAS Asset Management Finland comments: “EY was chosen as advisor because of broad service offering. The team was able to support on all the aspects of the transaction. And as always in transactions, there were surprises on the way, but we managed to solve all the challenges efficiently and finalize the acquisition on time.“
More information can be found on DEAS' press release.
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