Capital Markets

We acted for GenAfrica Asset Managers Limited in the set-up of a KES 10 Billion property fund, including obtaining regulatory approvals from the Capital Markets Authority and the Retirement Benefits Authority

We assisted Jubilee Financial Services Limited, a fund manager licensed by the Capital Markets Authority, by drafting templates for all agreements required in the provision of fund management services and providing legal advice on laws and regulations applicable to fund managers.

We are currently acting for a local fund manager in the setting up of a USD 20 Million Development Real Estate Investment Trust (D-REIT), including drafting and review of the fund documents, advising on the registration process and making all necessary registration applications, and providing general legal support in the formation of the trust and acquisition of assets.

We acted for Centum Real Estate Limited in the issue and listing of its KES 4 Billion Equity-Linked Corporate Bond (with a KES 2 Billion Green Shoe Option)

We acted for Cytonn Asset Managers Limited in the setup of its Kenya Shillings and United States Dollars denominated money market funds, including drafting and review of the necessary documentation, registration of the funds with the CMA and provision of legal advisory in its application for a manager’s license from the Retirement Benefits Authority.

We advised minority shareholders of Unga Group Plc in a take-over bid by Seaboard Corporation, on their rights, protections and remedies as minority shareholders. This was one of the first times the the squeeze out provisions of Kenya’s Companies Act, 2015, were put to test. As a result of our intervention on behalf of the minorities, Seaboard did not proceed with its proposed delisting of the target company.

We have undertaken numerous legal and governance audits on, among other public entities, The Nairobi Securities Exchange, Centum Investment Company PLC, UAP Holdings Group, and CIC Insurance Group.

We were the legal advisors in the setting up of Seriani Asset Managers Limited, from incorporation to licensing, and subsequently in its establishment of two collective investment schemes (unit trusts). Our role included drafting the Information Memorandum, Trust Deed, custodial services agreement, and the application for submission to the Capital Markets Authority.

We provided legal services to Cytonn Asset Managers Limited in their established of two collective investment schemes – Cytonn Africa Financial Services Fund and Cytonn High Yield Fund – and in their acquisition of Seriani Asset Managers Limited.

We are acting for a leading fund management company in the establishment of a umbrella fund, with several sub-funds. Our role includes drafting the Trust Deed, Management Agreement, review of the Information Memorandum, custodial services agreement, and investment policies.