M&A Finance
K&L Gates
Full Credential Description
American Century Investments faced the challenge of registering its Irish Collective Asset-Management Vehicle (ICAV) under the new Overseas Fund Regime (OFR) in the UK, which opened on September 30, 2024. This new regime was designed for funds seeking to market to retail investors in the UK, and American Century Investments was among the first to have its Undertakings for the Collective Investment in Transferable Securities (UCITS) fund recognized by the Financial Conduct Authority (FCA) under this framework. K&L Gates provided a tailored solution by leveraging their extensive knowledge of the FCA’s requirements and their global asset management practice. The firm’s Dublin team, led by partner Hazel Doyle, along with special counsel Nicola McCaffery and other members of the K&L Gates Global Funds Explorer team, ensured that American Century Investments successfully navigated the regulatory landscape. This included advising on the launch of their UCITS ETF platform in Ireland, which was a critical step in their strategy to access the UK retail investor market. As a result of K&L Gates' support, American Century Investments was able to effectively position itself within the new regulatory environment, gaining access to an important market for distribution. The firm’s Global Funds Explorer service provided a comprehensive project management solution for fund registrations and ongoing compliance, tailored to meet the specific needs of American Century Investments, thereby facilitating their entry into the UK market.