Alter Legal is a Spanish boutique law firm formed by an experienced team of professionals specialised in fund formation and alternative investments.

  • Area of Activity
  • Lawyers
  • Mergers & Acquisitions
  • Transaction Advisory Services
  • Company type
  • Professional Services
C/ Alcalá 54, 3º Dcha
Madrid, Madrid 28014, ES
P: +34 91 168 15 00
F: +34 91 168 15 10

Our Team

Over 20 years of relevant experience in private funds

Carlos de Cárdenas

Alejandra Font

Manuel García-Riestra

Víctor Doménech
Of Counsel

Soraya Portela

Rogelio Fernández

Leticia Travesedo

Beatriz Durán

Clara Gómez-Pomar

Ana Mata

For more details, please visit

- Investment Funds

* Fund Structuring

Structuring private funds and investment vehicles in Spain, Luxembourg, Delaware, United Kingdom and other relevant jurisdictions.

We have experience in many different types of assets and strategies: private equity, real estate, debt, infrastructure, secondaries, venture capital, renewable energies, natural resources, fund of funds and hedge funds.

We offer fully integrated regulatory and tax advice combined with close relationships with other leading investment funds law firms.

We have a commercially driven approach to fund structuring and can leverage on our diverse experience in acting for investors.

* Advice to funds sponsors and executives

We have also acted for sponsors and executives in setting-up management/advisory structures, structuring their investments and co-investment schemes and defining their internal arrangements and incentives.

- Primary Investments and co-investments

Our team has a very vast experience acting for investors with respect to primary investments and co-investments. We have participated in circa 1,000 investments since 2004 covering all types of strategies (buy-out, growth, venture, infrastructure, real estate, debt and special situations) and different geographic areas (Europe, North America, Latin America, Asia and Africa).

We have advised funds of funds, institutional investors, financial entities and public institutions and are completely familiarized with their needs and concerns when making such investments.

We provide commercial guidance on terms and conditions and market best practices, review commercial and legal materials and conduct negotiations with fund sponsors.

- Secondaries

We have advised international investors and GPs on secondaries transactions and GP restructurings in many different jurisdictions. We have acted in the sell and buy side and have an accumulated experience of approximately 200 secondary transactions.

We have advised fund of funds, institutional investors and financial entities and are completely familiarized with their needs and concerns when representing them in such transactions. We also have close relationships with intermediaries and take a pro-active approach to secondary transactions.

We offer a fully integrated tax advice with experience in secondaries combined with access to US tax matters experts.

- Regulatory

Our regulatory experts work hand in hand with the rest of our team in fund structuring, primary investments, co-investments and secondary mandates.

We regularly advise fund managers, advisers and intermediaries on regulatory issues and compliance, namely fund distribution and how the application of AIFMD and MiFID can shape fund marketing.

We have advised institutional investors (banks, insurance companies and pension funds) and are completely familiarized with their regulatory needs and concerns when representing them in alternative investments.

- Tax

We offer specialized tax advice to fund managers and advisers and executive team members in relation to the set-up of fund structures and their investments and divestments.

Our tax team also regularly advises investors with respect to the taxation implications of primary investments, co-investments and secondaries transactions.

We have close relationships with international leading tax practitioners specialized in alternative investments.

We have the largest investment funds practice in Spain with access to longstanding relationships with other especialised firms in Europe, the US and Asia. We advise on fund formation, primary investments, co-investments and secondaries and their tax and regulatory implications.

We provide specialist bespoke advice to fund managers, executives, sponsors, institutional investors and other investors.

Alter Legal