The case was about assisting as a lead counsel a non-Finnish institutional investor in a real estate investment where all limited partnership interests in a regulated alternative investment fund, having a form of a Finnish limited partnership were acquired. The fund acquired held in turn all the interests in a mutual estate holding pooled forest real assets in Finland.

The acquisition was carried out through non-Finnish group entities and a Finnish corporate was incorporated to acquire the limited partnership interests. Post-acquisition the ownership structure was simplified by converting the fund acquired into a Finnish limited company. Following the conversion, both the general partner of the converted fund and the Finnish corporate entity established for the purposes of the acquisition wee be merged.

The case was specifically demanding as the target with interests in a specific Finnish vehicle i.e., mutual estate was involved in a cross-border transaction. The advisory required was demanding namely because of the very specific tax and legal features of a jointly owned forest estate (in Finnish: *yhteismetsä,* mutual estate). As a cross-border acquisition of a mutual estate, this transaction and the structure put together for that purpose was presumably the first ever in Finland.