Dubai-based Greenstone Equity Partners and UK’s aosphere have launched a strategic collaboration to provide fund managers with a comprehensive, low-cost regulatory solution for Saudi Arabia, Oman, Kuwait, Qatar, Bahrain, the UAE, the Dubai International Financial Center (DIFC), and the Abu Dhabi Global Markets (ADGM).
Greenstone is the largest licensed fund placement firm and provider of fund distribution compliance in the GCC. aosphere is an affiliate of leading international legal practice Allen & Overy and is an award-winning provider of innovative online legal information solutions.
The collaboration supports fund managers who market funds and other private placement offerings to investors in the GCC, enabling such fund managers to access aosphere’s Rulefinder Marketing Restrictions Asset Management product at a discounted rate specifically for the eight regulated jurisdictions in the GCC.
Through an easy-to-use online web-based platform, aosphere’s Rulefinder offers a comprehensive and practical evaluation of the rules regulating the marketing and distribution of funds and asset management services to investors.
Additionally, fund managers who are not licensed in the GCC countries may leverage Greenstone’s GCC Regulatory Compliance Program (RCP) to remain compliant while distributing their funds and other private placement offerings.
“Throughout our 11 years in the region, we have learned that getting reliable legal analysis that breaks down the complex rules and regulations in the various GCC jurisdictions is a key challenge, as well as a substantial expense for fund managers and other distributors who market and offer funds and other private placement offerings to GCC-based investors. We’re thrilled to be collaborating with aosphere to provide a low-cost, high-quality solution for our global network of fund managers. As users of aosphere, we find Rulefinder’s comprehensiveness and simplicity to be extremely valuable in quickly determining the “Dos and Don’ts” of offering funds to investors in each jurisdiction in the GCC.”
Greenstone’s RCP provides a regulatory umbrella with outsourced compliance operations and locally-licensed entities for fund managers to register and offer funds to investors. This contributes to Greenstone’s continuous efforts to strengthen regulatory-compliant capital raising within the GCC region.
Ms. Clare Godson, Executive Director of aosphere, said that “The GCC region consists of eight independent regulatory jurisdictions. Distribution compliance can be particularly complicated for fund managers who are engaging investors across the region. We invest extensive resources in our legal analysis to ensure Rulefinder is a trusted resource in the market and it is a pleasure to work with a firm like Greenstone, which can provide a solution to fund managers looking to distribute funds compliantly under their regulatory umbrella of locally-licensed entities.”