Greenberg Traurig advised FAP Group (FAP) on the structuring of the real estate debt fund "FAP FUND S.C.Sp., SICAV-RAIF - Subfund FAP Balanced Real Estate Financing I" as a sustainable financial product under the EU Disclosure Regulation. The target volume of the fund is 500 million Euro. The sub-fund pursues a sustainable investment strategy and is thus one of the first real estate debt funds in Europe to bear the Article 9 seal of the Sustainable Finance Disclosure Regulation (SFDR).
After complex negotiations with investors and detailed coordination with Environmental, Social & Governance (ESG) advisors as well as auditors, the completion of the project is a major achievement for Greenberg Traurig's ESG Practice and Private Funds Practice. The attorneys who focus on sustainable fund structuring advised on all legal aspects of the project. The advice included the development of sustainability criteria for debt investments and an ESG strategy for the sub-fund. The Greenberg Traurig team also assisted in the development of the fund-specific scoring model for sustainable investments, the preparation of the pre-contractual information, the set-up for future reporting, and the drafting of ESG relevant clauses for the financing documentation.
Also involved was a team of lawyers from Arendt & Medernach's Luxembourg office.
Background:
Greenberg Traurig has advised FAP on investment law and finance aspects since 2017. Led by Partner Kati Beckmann, the team of lawyers first advised on the initial launch of the FAP fund and then on its conversion from a Specialized Investment Fund (SIF) to a Reserved Alternative Investment Fund (RAIF). The attorneys also assisted in the restructuring of the sub-fund from a closed-ended fund to an open-ended fund.
After complex negotiations with investors and detailed coordination with Environmental, Social & Governance (ESG) advisors as well as auditors, the completion of the project is a major achievement for Greenberg Traurig's ESG Practice and Private Funds Practice. The attorneys who focus on sustainable fund structuring advised on all legal aspects of the project. The advice included the development of sustainability criteria for debt investments and an ESG strategy for the sub-fund. The Greenberg Traurig team also assisted in the development of the fund-specific scoring model for sustainable investments, the preparation of the pre-contractual information, the set-up for future reporting, and the drafting of ESG relevant clauses for the financing documentation.
Also involved was a team of lawyers from Arendt & Medernach's Luxembourg office.
Background:
Greenberg Traurig has advised FAP on investment law and finance aspects since 2017. Led by Partner Kati Beckmann, the team of lawyers first advised on the initial launch of the FAP fund and then on its conversion from a Specialized Investment Fund (SIF) to a Reserved Alternative Investment Fund (RAIF). The attorneys also assisted in the restructuring of the sub-fund from a closed-ended fund to an open-ended fund.