Day Pitney Represents UK-Based Nickel Digital Asset Management Ltd in Forming Nickel Digital Asset Series Fund LP, a Multi-Series Investment Fund to Invest in Digital Assets
Publisher: Day Pitney Press Release
November 16, 2021
In November 2021, Day Pitney represented Nickel Digital Asset Management Ltd, a London-based cryptocurrency asset manager, in connection with the formation of a multi-series Delaware limited partnership formed to invest in decentralized digital currency and tokens. Each series of the fund invests substantially all of its assets in a corresponding segregated portfolio of a Cayman Islands segregated portfolio company as part of a master-feeder structure in which the U.S. feeder fund invests in parallel with a separate Cayman Islands feeder fund. The Day Pitney Investment Management team, consisting of Peter Bilfield, Eliza Fromberg, Mike Cummings, Joty Mondal, Nicholas Thomas, and Kim Morabito, with U.S. tax assistance from Steve Ziobrowski and Justin Hannan, advised the client on the preparation of offering documents, including a private placement memorandum, series limited partnership agreement, subscription agreement, series designations and series appendices for each series. The Day Pitney team also advised the investment manager on registration with the CFTC as a commodity pool operator.
