In The Press August 31, 2022

Legal Lowdown: Michael Halford, Goodwin (The Drawdown)

Michael Halford, a partner and co-chair of the Private Investment Funds practice discusses recent client challenges, thoughts on the FCA’s new AR rules and what he makes of PE’s reputation with The Drawdown. "There's been a focus on where to domicile PE funds versus where the firm's headcount is based. We're seeing a trend where GPs domicile structures in their main business centres, rather than in alternative jurisdictions where they have less presence" said Halford, in response to what challenges his clients have faced in recent months. "For example, Goodwin's annual client update showed there's been a move from domiciling PE funds in Jersey to the UK, so we've been doing more UK funds than before. Between 2021-2022, the proportion of Jersey domiciled funds our UK funds team acted on dropped from 33% to 22.5%, while UK domiciled funds climbed from 12.5% to 15%."