A team from Dechert LLP’s Munich, Luxembourg and London offices advised Prime Capital AG, a financial services and asset management firm, on an innovative repackaging transaction for institutional investors. The transaction involved establishing six compartments of a Luxembourg securitization vehicle, which issued profit participation bonds in total value of €180 million. These structured bonds are subject to English law and were listed on the Luxembourg Stock Exchange. The notes’ payment profile is based on the performance of several hedge funds. The Dechert team drafted the issuance documents including the prospectus containing specific listing information and arranged for the Luxembourg listing.

Prime Capital is an independent asset management firm that specializes in alternative investments in the equity and debt segment. The firm employs more than 45 people in Frankfurt, London and Luxembourg and is licensed to operate as an investment management corporation. The firm is regulated by the Federal Financial Supervisory Authority in Germany, the Financial Conduct Authority in the UK and the Commission de Surveillance du Secteur Financier in Luxembourg.

The Dechert team advising Prime Capital AG included lead partners Hans Stamm (Munich) and Giles Belsey (London) in addition to Marc Seimetz (Luxembourg), Jean-Louis Frognet (Luxembourg) and James Beeson (London).