Our Investment Funds and Fund Finance team has advised the Trustees of the Thales UK Pension Scheme in connection with a complex sale of a large portfolio illiquid and liquid fund investments.

The sale is part of a broader transaction where a cross-firm team at Gowling WLG advised the Trustees upon the £2.7 billion buy-in agreed between the scheme and the UK's largest pensions insurance specialist, Rothesay.

The team advised on the transfer of large pool of complex fund positions held by the scheme on the secondary market and was a significant component of the broader buy-in agreed between the scheme and Rothesay.

The team was led by Partner Katherine Rainwood, together with Partner Matt Poole and Associate Michael Tushingham (Tax), and Associates Chris Kay, Jack Qualtrough, Oratile Jonas (Funds). To deliver the transaction, Gowling WLG worked closely with teams from AOS, investment adviser Momentum, and tax advisers EY and PwC.

Katherine Rainwood said: "This transaction marks a pivotal achievement in our work in the dynamic risk transfer market. By leveraging our firm’s deep expertise across multiple disciplines, including our growing secondaries practice, we were able to navigate a complex landscape of secondary sales, tax challenges, and fund structures to ensure a robust outcome. The intricacies of this transaction showcased the strength and resilience of our team. This deal underscores our commitment to delivering exceptional results for our clients in an evolving market." 

Gowling WLG's Investment Funds and Fund Finance team has acted for some of the world's largest financial institutions on domestic and cross-border matters, with tailored services to meet the unique needs of clients, staying current with trends and legislative developments. Through client-dedicated teams, Gowling WLG's professionals are focused on delivering solutions that meet the demands of the ever-changing financial market.