Posted: 10/09/2013
MJ
Hudson,
the
alternative
asset
law
firm,
and
Jersey's
VerrasLaw
have
agreed
to
merge.
The
merged
firm,
which
will
be
known
as
MJ
Hudson,
will
provide
asset
managers
and
investors
with
a
one-stop
legal
shop
for
funds,
investment,
corporate
finance
and
M&A
work
- onshore
in
London
and
offshore
in
the
Channel
Islands.
The
merger
is
the
next
step
by
MJ
Hudson
to
expand
into
key
asset
manager
and
funds
jurisdictions.
MJ
Hudson
also
plans
to
open
in
Hong
Kong
later
this
year,
as
it
continues
with
its
aim
to
become
the
leading
global
alternative
asset
law
firm.
Commenting
on
the
news,
MJ
Hudson
Managing
Partner
Eamon
Devlin
said,
“Creating
an
onshore
offshore
capability
under
one
roof
is
a
timely
and
client
driven
innovation
for
our
sector,
where
we
are
seeing
a
lot
of
demand,
particularly
focused
on
fund
formation
in
alternatives.”
Historically
asset
managers
have
needed
to
appoint
two
law
firms,
one
onshore
and
another
offshore.
This
merger
will
make
it
more
time
and
cost
efficient
for
investment
funds
to
come
to
market.
The
driver
behind
the
link
up
was
the
need
to
offer
clients - mainly
fund
managers
and
advisors
- a
seamless
regulatory,
tax
and
legal
service.
Devlin
added,
“Clients
are
looking
for
a
managed
introduction
to
offshore
jurisdictions,
which
is
seen
as
a
key
home
for
servicing
offshore
funds
advised
out
of
London.
Also
VerrasLaw
are
most
unusual
in
having
built
an
offshore
practice
around
asset
manager
clients,
as
opposed
to
the
usual
offshore
model
of
relying
on
onshore
law
firm
referrals,
thus
doubling
our
respective
client
bases.”
The
new
firm
will
offer
an
alternative
model
to
the
traditional
onshore
/offshore
legal
dichotomy
with
clients
able
to
seek
advice
under
one
roof.
Hiren
Patel
and
Jonathan
Bale,
the
founders
of
VerrasLaw,
said
“Many
of
our
clients
have
significant
needs
for
advice
in
other
jurisdictions
and
this
merger
allows
us
to
provide
them
seamless
delivery
of
their
offshore
advice,
as
well
as
English
advice
needed.
Our
two
firms
have
excellent
synergies
and
the
enhanced
capability
will
be
very
attractive
to
our
clients
both
locally
and
internationally.
”
The
merger
is
subject
to
regulatory
approval.
Until
formal
approval
has
been
obtained,
MJ
Hudson
and
VerrasLaw
will
be
working
in
association,
but
trading
under
the
name
of
MJ
Hudson.
Following
the
merger,
the
enlarged
firm
will
have
over
200
clients,
principally
GPs/managers
and
investors
in
Alternative
Assets:
private
equity,
hedhedge,
venture
capital,
infrastructure,
real
estate,
energy,
credit
and
special
purpose
pools
of
capital.
The
firm
will
also
continue
to
advise
HNWs,
family
offices
and
‘aggressive'
corporates.