The Paris office of the international firm Simmons & Simmons has assisted the British asset manager, Polar Capital, in the context of the launch of its operations in Paris.
Whilst some aspects of the divorce between the EU and the UK are unfinalised, Simmons & Simmons LLP has advised Polar Capital on the establishment of the most suitable regulated structure post-Brexit for its set up in the capital.
The multi-disciplined team of the firm advised the asset manager throughout the authorisation process as an AIFM (from the initial meeting with the AMF to completing the AMF authorisation conditions) including preparing the AMF licensing application. Simmons & Simmons LLP also assisted Polar Capital in choosing the most efficient corporate vehicle for their Paris activities (SAS) and dealing with tax and employment law queries.
Ian Rogers, partner at Simmons & Simmons office in Paris and asset management specialist, stated, “We are delighted to assist Polar Capital with the creation of their French asset management company and with their future European branches. Polar Capital was one of the first UK fund managers to recognise the impact of Brexit on their European operations. They can now focus on day-to-day activities rather than on the risk of a Brexit without agreement. Moreover, whereas the British asset managers had until now adopted a wait-and-see attitude, since January 2018 we have noted a real acceleration in decisions to relocate operations to Continental Europe and Paris. There could be snowball effect.”