WBD has advised Lydia Advisors on becoming the London-based fund manager of Lydia Fund Ltd, in place of BVI based Sand Investment Management.
Lydia Advisors is led by Umit Kumcuoglu, who has served in various roles in investment banking and asset management in New York, London and Istanbul. Lydia Fund Ltd invests primarily in structured credit, global macro and emerging markets debt with a long term, low volatility strategy serving high net worth individuals.
WBD's investment funds and regulatory team was led by Partner Barry Stimpson. The team assisted with drafting and negotiating new fund management documentation, revising Lydia Fund Ltd's PPM and related documentation.
Barry Stimpson commented:
"It was a pleasure working with the team at Lydia Advisors and Heidi de Vries and her colleagues at Maples and Calder and we are delighted to see a successful conclusion to the reorganisation."
Umit Kumcuoglu commented:
“It was delightful to work with WBD, Maples and Calder and Apex on the transaction. We were very impressed by the advice given and by the FCA and the UK regulatory regime and are looking forward to growing our business in London”.
WBD's investment funds team represents large and small clients in a variety of matters. Barry Stimpson has been praised by Legal 500 for his "great experience of hedge fund and private equity partnerships".