Private Equity & Investment Funds
The firm acts for the substantial majority of Oman's private equity and investment fund ecosystem: sovereign investors, national development funds, pension institutions and the country's leading institutional and private funds. FALC's advantage is that it understands funds from the inside. Our largest engagement, valued at over USD 1 billion, related to the formation of an energy investment fund, we have designed fund governance frameworks and advised on structuring and custom convertible instruments. When we review a fund's terms for an investor, we do so as a firm that has drafted such terms itself.
The LP-side workflow
Four stages, one stream of advice.
- 01
Fund terms review & due diligence
Review of limited partnership agreements, PPMs and subscription documents, legal due diligence on the manager, the vehicle and its domicile, and analysis of fees, carry, key-person, governance and transfer provisions.
- 02
Side letters & negotiation
Negotiation of side letters and most-favoured-nation provisions reflecting the investor's regulatory, reporting and governance requirements, drawing on our experience negotiating bespoke convertible instruments.
- 03
Cross-border coordination
Instruction and coordination of counsel in the fund's domicile, Cayman, Delaware, Luxembourg, the DIFC and others, through the firm's global network, delivered to the client as one stream of advice.
- 04
Lifecycle support
Ongoing support across the holding period: amendments, consents, advisory committee matters, transfers and secondaries, co-investments, and exit. Shari'a-compliant structuring perspectives are available through the firm's dedicated Shari'a advisory arrangement.
Selected experience
Client names are withheld for confidentiality. Further references are available on request.
Full experience- FN-01
Advised an international institutional LP on structuring its investment into an FSA-regulated Omani fund, in a transaction valued at over USD 900 million, split into multiple tranches.
- FN-02
Led negotiations on behalf of Oman's sovereign pension institution for investment management agreements with three regional asset managers, spanning traditional and alternative mandates across public and private asset classes. Reviewed and finalised all commercial and legal terms, including fee structures, investment guidelines and reporting obligations.
- FN-03
Conducted a red-flag legal review of the offering documents for a proposed USD 5 million subscription to shares in a Cayman Islands regulated emerging-markets hedge fund, covering the master PPM and five related supplements. The review identified material red flags spanning liquidity and gating mechanics, key-person provisions, and fee and procurement-agent structures, with corresponding recommendations for negotiation with the manager.
- FN-07
The firm's largest engagement, valued at over USD 1 billion, related to the formation of an energy investment fund.
- FN-08
Sole legal adviser on the establishment of the Sultanate's first FSA-regulated renewable-energy fund, an unlisted open-ended investment fund offered by way of private placement, dedicated to investments in unlisted Omani companies across the renewable-energy value chain (wind energy, energy storage and battery systems, renewable-energy equipment manufacturing and energy efficiency), in direct alignment with Oman Vision 2040 and the Sultanate's Net Zero 2050 commitments. The mandate covered the full scope of fund formation: structuring, drafting of the prospectus and Articles of Association, preparation and negotiation of the investment management, administration and custody arrangements, and all regulatory submissions and approvals with the FSA, including the legal adviser's statutory confirmation in the prospectus. Minimum fund capital at establishment: OMR 2 million.
- FN-10
Led due diligence for an Omani investment fund's unprecedented divestiture of more than 25 portfolio companies, crafting a bespoke methodology for the analysis and management of public funds, Oman's first large-scale public fund portfolio divestiture.
Formation, investment, governance, unwind: the full life of a fund.
Discuss a mandate