The strategy of the Fund is to make investments which aim to produce significant and measurable impact across a global portfolio of claims including human rights, environmental protection, climate change, equality, indigenous rights, and a range of other critical cause areas.
The Fund will seek to provide access to justice and the courts to claimants who otherwise would not have the resources necessary to pursue their own claims, beginning to address a serious imbalance of power in the global system of commercial litigation.
Commitments to the Fund were secured from a pool of institutional investors including Capricorn Investment Group’s Sustainable Investors Fund and The Soros Economic Development Fund, as well as several foundations and family offices.
Reed Smith provided legal advice from London and the U.S., leading on the fund establishment and structuring, working closely alongside Mourant’s Jersey team from inception through to closing.
Reed Smith also led on investor negotiations and advised on tax and regulatory matters pertaining to the fundraise, combining the firm’s extensive capabilities from both an English law and U.S. law perspective.
Shervin Shameli led Reed Smith’s legal team, with support from Tim Dolan, Caspar Fox, Thao Ngo, Ronald Scharnberg, Allison Sizemore, Kat Dansie and Sam Hill.
Commenting on the closing, Shameli, Global Corporate Group partner at Reed Smith, said: “We are delighted to have assisted the team at Aristata with the closing of its inaugural impact litigation fund. Having worked with the team for a number of years, we are very pleased to see them reach this landmark for what is a truly unique and compelling investment strategy.
“We look forward to seeing their continued growth and success and to working closely with Aristata through to final closing of the Fund in the first half of 2023, and for many years to come.”
Jack Naylor, CIO at Aristata, said: “The advice which the Aristata team received from Reed Smith and Mourant was first class, pragmatic and commercial. Having worked with a large number of law firms across more than 30 jurisdictions, this was teamwork at its most effective and crucial to enabling the Aristata fund to pursue its differentiating strategy.”
Alistair Horn, Mourant LP Partner, said: “It has been an incredible team effort across the board and we are delighted to have been able to support a fund with such an important and innovative strategy.”
More information about the Fund is available on the Aristata website.