Eversheds Sutherland Advises on First-Ever Irish Cannabis Alternative Investment Fund

Eversheds Sutherland’s cannabis industry team, comprising of its asset management, investment funds and financial services regulation practices, has advised Crossroads Capital Management Limited (CCM) and Óskare Capital SAS on the establishment of the first-ever Irish-domiciled, QIAIF ICAV private equity medical cannabis fund. The alternative investment fund will be marketed to qualifying investors globally, in accordance with the Alternative Investment Fund Managers Directive (AIFMD).

Acquired last year by fund service providers Hauck & Aufhauser of Luxembourg, CCM, based in Dublin, provides investment management services. Óskare Capital SAS is a French-domiciled investment advisor specialising in private equity, venture capital, cannabis, and medical and bio technology related products and strategies.

Eversheds Sutherland’s cross-practice team was led by Deborah Hutton, Partner and Head of the firm’s Asset Management and Regulatory team in Ireland. The team advised on all elements of the formation, and distribution, of the alternative investment fund in a complex regulatory environment and amid the global pandemic.

This is a global asset class with various legal and cross-jurisdictional complexities: an understanding of the market is still evolving in some areas. Eversheds Sutherland’s cannabis industry team frequently advises on the various issues related to this asset class and is constantly building its knowledge of this emerging industry.

Click here to read more about Eversheds Sutherland’s experience, and services, for the cannabis industry.

Deborah Hutton, Partner and Head of the Asset Management and Regulatory team at Eversheds Sutherland (Ireland) said:

“Our cross-practice cannabis industry team was formed primarily to help our clients navigate the regulatory uncertainty in this rapidly growing industry. With our ever-increasing industry and regulatory knowledge, we were delighted to provide comprehensive guidance and our insights throughout the formation of this unique fund, intended to deliver wide-reaching benefits for its stakeholders.”

About Eversheds Sutherland

Eversheds Sutherland is Ireland’s largest full-service, top 15 global law practice with an all-island presence and multidisciplinary expertise. The firm has 69 offices in 32 countries worldwide, including nine in the US. Its Dublin office employs over 300 talented professionals and it has a strong culture of investing in world-class people and nurturing young talent.

Eversheds Sutherland provides legal advice and solutions to a global client base ranging from small and mid-sized businesses to the largest multinationals. It provides the full range of legal services, including corporate and M&A; dispute resolution and litigation, energy and infrastructure, corporate, data protection, insurance and financial services; employment, intellectual property; real estate and construction; and tax.

Eversheds Sutherland holds the internationally-recognised ISO 27001 certification for its exemplary data protection and information security in the Republic of Ireland and Northern Ireland for its Dublin and Belfast offices. This ensures the firm follows best practices in protecting its data, improving its cyber security posture and business efficiency, while also ensuring that it meets legal and regulatory data protection obligations.