Morgan Lewis advises TVM Capital Healthcare partners on the first DIFC QIF in Dubai
Global law firm Morgan Lewis announced that it has advised TVM Capital Healthcare Partners in connection with their second private equity fund, the first fund registered under the Dubai International Financial Centre’s (DIFC) new Qualified Investors Fund (QIF) regime.
The new fund regime, operated by the Dubai Financial Services Authority (DFSA), has been implemented to promote Dubai as an asset management centre by facilitating fast track fund registration while maintaining international best practice in regulation. The regime is open to funds targeting professional investors with 50 or fewer unitholders, and a minimum subscription of US$500,000 through private placement.
TVM Capital Healthcare Partners was established in 2009 under the name TVM Capital MENA. The firm focuses on making highly specialized growth capital and small buyout investments in healthcare companies in the Middle East and North Africa (MENA) region and India that are or target to become leaders in their regional markets.
Morgan Lewis acted as lead advisor and fund counsel to TVM Capital Healthcare Partners – the team was co-led by Dubai-based partner Ayman A. Khaleq and senior associate Philip Dowsett with support from New York-based partner Louis H. Singer.
Commenting on the matter, partner Ayman A. Khaleq said: “This is a significant achievement, and we are very excited to have advised our longstanding client and market leader, TVM Capital Healthcare Partners, on the first fund registered under the new QIF regime. As a firm with a leading global funds’ practice, we are very keen to contribute to the continued success of the DIFC and its investment funds’ regime and the growth of the regional healthcare sector.”