Flavio Picaro

Associate, London



Flavio Picaro is a Funds and Investment Management associate in our global M&A and Corporate practice based in London.

He has experience advising private investment firms – from first-time managers to globally established sponsors – in connection with the structuring, formation, placement and operation of regulated and unregulated onshore and offshore investment funds, single-investor structures and other investment vehicles pursuing alternative strategies across a broad spectrum of illiquid asset classes.

He also advises on co-investment schemes, incentive arrangements as well as liquidity events and other complex fund matters including fund restructurings.

Further, he acts for SWFs and other institutional investors in relation to their allocations to such products.

Before joining White & Case, Flavio spent some time at a leading Luxembourg-headquartered law firm where he gained experience on the Luxembourg private fund structuring toolbox. Prior to that he was an associate in the Milan-based Funds and Indirect Real Assets team of a leading UK and international law firm where he focused on both fund formation matters and under-the-fund transactions, including domestic and cross-border acquisitions and divestitures.

Bars and Courts
Italian Bar
Corporate and Securities Law
The London School of Economics and Political Science
Second Level Master's Degree, Business and Company Law (1st)
Luiss University
Combined Bachelor and Master's Degree in Law (1st hons)
University of Bari


Representation of a Luxembourg-domiciled fund-of-funds backed by a leading Swiss luxury goods manufacturer on its allocations to offshore products across a wide range of alternative strategies and geographies*

Representation of a leading Swiss private investment firm on a range of fund matters throughout the life-cycle of its multi-compartment Luxembourg special limited partnership qualifying as an investment company in risk capital, including (i) the launch of various sub-funds, (ii) the disposal of sub-funds' LP interests to secondary US-based investors, and (iii) the transfer of certain warehoused investments*

Representation of a leading US private equity firm on the raising of a pan-European buyout fund*

Representation of a Luxembourg-based private equity firm on the restructuring of its Luxembourg-domiciled buyout fund's internal investment financing mechanism, involving a restructuring of the sponsor commitment*
Representation of Colliers Global Investors Italy (formerly Antirion), an independent Italian asset manager, on (i) the raising of "citizenM Italian Properties", an alternative closed-ended real estate fund, and (ii) the completion of the fund's first investment*

*Experience prior to joining White & Case.