The global go-to firm for Scottish private fund structuring and establishment.


Burness Paull's funds lawyers advise leading international fund managers, investors, banks and law firms in connection with:

"The absolute lead in the market - the best people and the best practice. We're very happy with the service we get."
- Client quote, Chambers UK
Fund structuring, formation, raising and operation

For over 30 years Burness Paull's funds lawyers have been advising fund managers through all stages of a fund’s life; from initial structuring, formation and regulatory issues through marketing, establishment and closing. We work closely with clients throughout the life of the fund, in particular negotiating bank funding and the structuring of security. We are experienced in many types of private equity and debt funds, including fund of funds, where Scottish limited partnerships are a preferred vehicle.

Investments in private funds

Burness Paull's position as the global go-to firm for Scottish private fund work means we have a unique understanding of the global funds market. Using our market knowledge, we regularly advise leading institutional and other investors on the terms of their investments in alternative investment funds domiciled in the UK, the US, various European jurisdictions and elsewhere.

As well as primary investments, the firm's funds lawyers have specialist knowledge of Secondaries and co-investment.

Fund finance

Recognised in the City and international fund finance markets as experts, we advise on debt and security structures, often in complex cross-border transactions.

Our unique market position and engagement with the Fund Finance Association means we are at the forefront of developments and changes in market practices in this sector. In particular, the continuing growth in the use of subscription line facilities and lifetime facilities by ever more complex fund structures has led to our being instrumental in the development and use of cascading security structures.

Scottish limited partnerships in private funds and other structures

Burness Paull's funds lawyers were at the forefront of the development of the use of Scottish limited partnerships (SLPs) in private fund structures and we invest heavily to make sure we remain at the cutting edge.

For law firms and international fund managers, we deal with all aspects of setting up Scottish limited partnerships for use as carry vehicles, feeders, fund of funds vehicles, acquisition structuring vehicles and in other situations. This is our core business and we do it every day.

Carry limited partnerships

Scottish limited partnerships (SLPs) have been the carried interest vehicle of choice in domestic UK structures for over 20 years. We were involved in the first-ever use of a Scottish limited partnership as a carry vehicle, and have worked on countless carry structures over the years.

Our market-leading position in relation to carry structures means that our dispute resolution colleagues are at the forefront of litigation arising from carry disputes.

Get in touch to find out how we can offer you support on all matters relating to funds: