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Maples Group's Asia and Irish Funds Practices Advise on Publicly Offered Fund in Japan

24 Mar 2023


Maples and Calder, the Maples Group's law firm, is pleased to announce that its Asia and Irish Funds & Investment Management practices were selected to advise IQ EQ Fund Management (Ireland) Limited ("IQ-EQ"), on the launch of Daiwa Blackstone Private Credit Fund (the "Fund"). The Fund, which is expected to launch on 31 May 2023, is structured as a Cayman Islands unit trust and is authorised for public offering in Japan. The Fund will be distributed by Daiwa Securities Co., Ltd.

The Fund's investment objective is to generate current income and to a lesser extent, long-term capital appreciation by investing in shares of Blackstone Private Credit Fund.

The Fund's investment manager is Daiwa Asset Management (Europe) Ltd. The Bank of New York Mellon will provide fund administration and custody services.

A team of lawyers based in the firm's Dublin, Hong Kong and Singapore offices acted as Cayman Islands and Irish legal counsel to IQ-EQ and was led by Funds & Investment Management Partners, Nick Harrold (Singapore) and John Gallagher (Dublin) and assisted by Associates, Aidan O'Regan (Hong Kong) and Lauren McGarry (Dublin).

"The Cayman Islands unit trust continues to be the preferred investment vehicle for many Japanese investors due to its flexibility, tax treatment and for a variety of other reasons. We were delighted to work with such high-quality service providers on the launch of the Fund", commented Nick.

Japanese legal advice was provided by Mori Hamada & Matsumoto.

The Maples Group's Japanese Funds practice is recognised as the market leader, advising and providing funds services to the industry's heavyweights, as well as new entrants to the market, on the structuring and establishment of Japanese Funds.

IQ-EQ is an investor services group that brings together a rare combination of global technical expertise and deep understanding of client needs providing a comprehensive range of compliance, administration, asset and advisory services to fund managers, multinational companies, family offices and private clients operating worldwide. Also part of the IQ-EQ group of companies are First National Trustee Company (FNTC)and The Private Office.

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Funds & Investment Management

Advising on the laws of the BVI, the Cayman Islands, Ireland, Jersey and Luxembourg, our global Funds & Investment Management team provides expert legal advice on every aspect of the life cycle of an investment fund including set up, management and investment across a broad range of fund structures and management entities.