Stephen Carson is a partner in the Asset Management & Investment Funds group. He was Head of the London office from 2018 to 2022. Stephen advises international asset management firms and investment banks in relation to the establishment and authorisation of all types of investment funds including UCITS, AIFs, exchange traded funds (ETFs), money market funds, hedge funds, private equity funds and property funds as well as authorisation of UCITS management companies and alternative investment fund managers (AIFMs). He also acts for the promoters of, and service providers to, Irish domiciled investment funds including investment managers, fund administrators and depositaries in relation to depositary, administration, prime brokerage and other service agreements.
Areas of Expertise
Asset Management & Investment Funds/Financial Solutions/Corporate Secretarial Services (Funds/Asset Management)/Brexit/ESG and Sustainability
Experience Advising:
- Deutsche Bank AG in relation to its Irish ETF platform, including in relation to the establishment of synthetic and physical replicating index tracking ETFs, smart beta products and structured UCITS.
- Sarasin & Partners in relation to the re-domiciling of its range of Guernsey unit trusts to Ireland, the establishment of a UCITS common contractual fund, a UCITS management company and a range of systematic UCITS funds.
- The Irish Property Unit Trust (now IPUT plc), the largest domestic Irish property fund, on the establishment of the first Irish internally managed alternative investment fund (AIF) authorised under the AIFMD.
- Intermediate Capital Group on their QIAIF platform investing in credit, high yield and loan strategies using a “Super QIF” structure involving section 110 special purpose vehicles.
- FundLogic SAS, a Morgan Stanley group company, in relation to their range of structured UCITS, including the passporting of its French UCITS management company into Ireland.
- Deutsche Bank AG in relation to its Irish UCITS money market funds, including advising of the implementation of a reverse distribution facility to manage the impact of negative yields on constant net asset value share classes.
- DMS and the authorisation of its Irish AIFM as a UCITS manager, a so called “Super ManCo”. CQS, a London based hedge fund manager, on the establishment of a number of Irish QIAIF sub-funds using convertible bond and credit strategies.
- Establishment of a UCITS platform as an ICAV with nine sub-funds investing in model portfolios of ETFs. Hibernia REIT on the regulatory aspects of its fundraising round.
- Hibernia REIT on the regulatory aspects of its fundraising round.
Market Recommendations
"Experienced. Good client relationship skills." (IFLR1000 2022)
"Stephen is knowledgeable, personable and delivers an excellent service." (IFLR1000 2022)
"Stephen is proactive and has become a valued partner as we have grown as a firm." (Legal 500 2020)
"Very hands-on and very responsive." (Chambers Europe 2020)
Professional activities
Stephen regularly speaks at international conferences and other industry events. Stephen is the chairperson of the Irish Funds association's Working Group on ELTIFs and Loan Funds, was a member of the Marketing Committee of the Irish Funds association from 2012 to 2014 and currently is a member of the Events Committee of the Irish Funds association.
Education
- Solicitor, Law Society of Ireland
- Dip. Financial Services Law, Law Society of Ireland
- BL, the Honourable Society of King's Inns
- BCL, University College Cork
Stephen Carson
Partner, Asset Management & Investment Funds
Dublin