<p>Filter Knowledge</p>

Travers Smith LLP has advised long-standing client Silverfleet Capital and other selling shareholders on the sale of Ipes, a leading provider of fund administration and outsourced services to private equity clients in Europe, to trade buyer Apex Fund Services.

Two new regulations have been published amending existing Level 2 requirements on depositaries of AIFs and UCITS with effect from 1 April 2020. They impose stricter obligations on them when they delegate their safekeeping obligations to a third party custodian.

It has been exactly twelve months since the UK submitted its notification of withdrawal from the EU under Article 50 of the Treaty on European Union. In twelve months' time, assuming that there has been no agreed extension of the negotiating period or permitted revocation of the withdrawal notification, the UK will officially leave the EU and become a "third country".

Travers Smith LLP has advised long-standing client TA Associates on the acquisition of the Single Strategy asset management business (the "Single Strategy Business") by a NewCo funded TA Associates from Old Mutual Wealth.

Today has seen the successful launch of a new payment system for processing cheques and similar payment instruments in the UK – the Image Clearing System (the ICS). The ICS is operated by Travers Smith's long-standing client, the Cheque & Credit Clearing Company Limited (the C&CCC).

Travers Smith LLP has advised the trustee of the British Steel Pension Scheme on the separation of the scheme from Tata Steel.

Travers Smith LLP has advised Goodbody Stockbrokers UC on its successful application as an FCA-approved sponsor. 

Travers Smith have advised long-standing client Canaccord Genuity Wealth Management on its acquisition of Hargreave Hale Limited, a leading independent UK-based investment and wealth management business, for aggregate consideration of up to £79.5 million.

Travers Smith LLP has advised SV Life Sciences, a leading international life sciences venture capital firm, in relation to the launch of The Dementia Discovery Fund (DDF), an innovative new global investment fund to support discovery and development of novel dementia treatment. 

Travers Smith Pensions Risk Management partner Peter Hughes and Finance assistant Vanessa Battaglia have advised the Scottish & Newcastle Pension Plan on a longevity transaction with Friends Life Limited, now part of the Aviva Group, to insure the longevity risk in respect of £2.4bn of the Plan's defined benefit pension liabilities. The deal, announced by Heineken today, provides funding security and protection against the financial risk of pensioners living longer than originally expected.

A Travers Smith team led by senior partner, Chris Hale and corporate senior associate Will Yates has advised NewSmith LLP ("NewSmith") on the sale of its asset management business to Man Group PLC ("Man Group") for an undisclosed sum. The acquisition is expected to complete in the second quarter of 2015, subject to regulatory and other approvals.