A&O Shearman global insights

Sovereign capital compass: Mapping the strategies, geographies, and impact of sovereign wealth funds

Sovereign wealth funds (SWFs) have entered a new era of global influence, sophistication, and strategic investment. Their activity increasingly targets innovation and transformation, funding energy transition projects, digital infrastructure, biotech, and frontier technologies, while also reinforcing domestic industrial strategies and capital market development at home.

In this episode, Kamar Jaffer, a partner in A&O Shearman’s Middle East Funds and Asset Management practice, is joined by Diego Lopez, founder and managing director of Global SWF, to unpack the latest developments, investment strategies, and structural shifts that are shaping the SWF landscape.

Against this backdrop of rapid change and opportunity, the discussion explores several key themes shaping the future of SWFs, including:

• Their strategic evolution and resilience in the face of global change
• Transformation in investment approaches and partnership models
• Innovative deal structures
• Focus on domestic economies and global expansion

Find out more

To learn more about our expertise in SWFs and how we can support your business, please contact our Funds and Asset Management team.

Beyond the buzz: What is driving stablecoin adoption?

In this episode, our Luxembourg partner Baptiste Aubry welcomes London-based fintech partner Ben Regnard-Weinrabe. Fresh from the Fintech Horizons Summit, they sit down to debrief and share key insights gathered during the event, which focused on stablecoins: why they matter, how they’re being used today, and what the future could look like.

COP30—key implications for business, finance and the energy transition

In the aftermath of COP30, we hosted a live webinar with specialists from our environment, climate, energy, natural resources, and infrastructure teams. Our experts critically assessed the outcomes of COP30 and distilled the most material takeaways for business, finance and the energy transition.

The discussion explores key themes shaping risk and opportunity, including:

• We assess where things stand with the 1.5°C global temperature goal under the Paris Agreement and the implications of the COP28 UAE Consensus agreed in 2023 following the first Global Stocktake.
• We analyze the implications for finance, particularly in clean energy, buildings, sustainable fuels, AI data centers, and climate adaptation.
• We evaluate whether 2026 is on track to be the biggest year yet for carbon markets.
• We consider how geopolitics, trade tensions, and fiscal constraints factored into the negotiations and outcomes.
• We identify what ultimately defined COP30, considering characterizations such as “Implementation COP,” “Roadmaps COP,” “Forest COP,” “BRICS COP,” and “COP of Truth.”

Speakers:

• Matt Townsend, partner and global co-head of our Environmental and Climate Law Group, London (Chair)
• Gauthier van Thuyne, partner, environmental and Climate Law Group, Brussels
• Michael Diosi, partner, Energy, Natural Resources and Infrastructure Group, London
• Rachel O’Reilly, partner, Energy, Natural Resources and Infrastructure Group, London
• Tom d’Ardenne, counsel, Environmental and Climate Law Group, London
• Ying-Peng Chin, senior knowledge lawyer, Environmental and Climate Law Group, London

Good COP, bad COP: What can we expect on climate finance at COP30 and beyond?

As COP30 approaches, climate finance must accelerate, not only to address climate risks, but also to advance national security and economic competitiveness. 

In a candid “good cop, bad cop” discussion, our speakers examine where substantive change is occurring, and whether it is driven by COP or by forces outside it.

Issues explored include:

• How are banks and capital markets reshaping their approaches to financing the energy transition?
  What steps are multilateral development banks taking to become bigger, better, and more effective in funding climate projects?
• How are market mechanisms, trade levers, and regulatory measures redefining public- and private sector appetite for scaling climate capital?
• Given misalignments between national interests and the need for global action, is the COP process still fit for purpose?

This is the second episode in our COP30-themed podcast series, recorded on October 29 ahead of COP30, which will be held from November 10 to 21.   

High stakes, hard truths: COP30 expectations amid geopolitical fragmentation

Billing COP30 as the “Implementation COP” raises hopes that it will drive concrete progress toward the Paris Agreement’s goals. Yet, amid rapid geopolitical shifts, what outcomes can we realistically expect? 

In this podcast, Oour speakers explore, among other critical questions:

• What influence will the United States exert on COP30 outcomes and broader climate action?
• Can China, the UK and the EU sustain credible global climate leadership amid the complexities of trade tensions, security-driven onshoring, domestic dynamics, and regulatory recalibration?
• A decade on from the Paris Agreement,is this talk of implementation all too late?
• Should we anticipate anything more than incremental movement, particularly in light of the 2025 Nationally Determined Contributions Synthesis Report?
• Will COP30 reinforce multilateralism—or hasten its demise?

This episode launches our COP30-focused podcast series. It was recorded on October 29-30 ahead of COP30, which will be held from November 10 to12.

EU-U.S. asset management insights, live from Luxembourg

In this special episode recorded during Luxembourg’s Private Equity Association’s flagship conference “LPEA Insights,” host Laurent Goyer welcomes Elaine Hughes to explore the evolving relationship between European and U.S. asset managers.

Evolution of digital bonds in global capital markets

Rory Copeland, senior associate in our financial services regulatory team, is joined by partners Jodi Norman (Dubai) and Agnes Tsang (Hong Kong), and counsel Philippe Noeltner (Luxembourg), to discuss current and emerging developments in how distributed ledger technology is reshaping debt issuance.

 

Drawing on recent landmark transactions in their respective jurisdictions, the speakers explore regulatory approaches in Europe, Hong Kong, and the Middle East, including the goals of achieving technological neutrality, legal certainty and operational efficiency.

 

Key themes discussed by the group include atomic settlement, various payment mechanisms and the integration of digital assets into existing market infrastructures.

 

The speakers offer their respective views on market readiness, legal frameworks and the future developments that are likely to shape the opportunities and challenges presented by digital bonds and the establishment of blockchain-based capital markets.

Regulating crypto-linked exchange-traded products

Philippe Noeltner, a Luxembourg-based counsel in A&O Shearman’s global financial markets team, is joined by partners Susan Gault-Brown (Washington DC), Nikki Johnstone (London), and senior associate Quentin Herry (Paris) to examine the legal and regulatory developments shaping the market for crypto-linked exchange-traded products (ETPs).

The speakers analyze the regulatory landscape in the U.S., UK, as well as in France and the wider EU market, focusing on recent moves to enable retail access to crypto ETPs. They discuss the role of custodians in their respective markets, and the challenges presented by structuring ETPs and ensuring adequate investor protection.

They also explore the practical implications of crypto ETPs for issuers, asset managers and investors, particularly the need to find the right balance between supporting innovation, proportionate regulation, and managing market appetite.

This episode was recorded in August 2025.

As part of our Fintech Horizons Summits series, our experts share insights on staying ahead in fintech and digital assets. Join us at an upcoming event to explore the latest innovations and opportunities.

On the cusp of UK prospectus regime change—what the FCA's July policy statement means for bonds

In this episode of A&O Shearman’s Market Horizons podcast, Amanda Thomas (partner, London) and Jen Cresswell (counsel, London) unpack what the overhaul means for debt capital markets practitioners and how the UK’s approach will diverge from the EU’s amended Prospectus Regulation.

Preferred equity: Navigating a rapidly evolving market—podcast

We are seeing increasing use of preferred and minority/ structured equity as a means for investors to provide flexible capital whilst still retaining downside and credit focussed protections. Increasingly the domain of credit and hybrid capital providers, preferred equity investments may incorporate range of features that are bespoke to the issuers and investors’ needs.  In this podcast our private equity and capital solutions team consisting of Peter Banks, Kfir Abutbul, Michael Mountain and Karen McMaster have produced a podcast exploring the key themes and practical considerations shaping this sector.