Global law firm K&L Gates acted as sole legal advisers to Abu Dhabi Investment Company (Invest AD) in connection with the establishment and licensing of Invest AD’s fund management subsidiary, which was the first manager authorised by the Securities and Commodities Authority under its new investment funds regulations.  In another first under the new regulations, K&L Gates also acted as sole legal counsel in the formation and approval of the Invest AD Blackstone Private Debt Fund, the first UAE-based private credit feeder fund for professional investors. 

The team that advised Invest AD was led by lawyers from K&L Gates’ Corporate and Asset Management and Investment Funds practices, which included Boston partner Todd Gibson, Dubai partner Farah Al-Nabulsi, Dubai associate Zaid Abu-Shattal, Boston associate Matt Phillips and Dubai senior paralegal Samia Mechernene. The team, which was supported by other K&L Gates lawyers, has served as legal adviser to Invest AD on a number of corporate and investment funds-related matters over the past several years.

“The K&L Gates team was instrumental to the success of our fund launch,” said Mohammad Behzad Saleemi, Invest AD’s Chief Executive Officer. “They provided practical and creative guidance that helped us navigate these new regulations.”

Gibson added, “This project was a real group effort among the K&L Gates lawyers across offices working hand-in-hand with the teams at Invest AD and the regulator, and our firm was proud to be a part of it.”