09 Dec 2025

DLA Piper Advises Ardian on Legal and Tax Structuring of Nature Based Solutions Fund

"DLA Piper advised Ardian on the legal and tax structuring of its Nature Based Solutions Fund, an Article 9 SFDR impact vehicle, and on securing commitments from leading development finance institutions. The fund targets reforestation, afforestation, wetland and mangrove restoration and agroforestry carbon projects to generate certified carbon credits."

DLA Piper advised Ardian in the legal and tax structuring of its Nature Based Solutions Fund and in obtaining commitments from leading development finance institutions. The transaction concerned the establishment of Ardian’s Nature Based Solutions Fund, an impact fund falling under Article 9 of the SFDR. The fund’s strategy focuses on nature-related projects, including reforestation, afforestation, wetland and mangrove restoration, and agroforestry projects linked to carbon. These initiatives are intended to support global climate-change mitigation by removing carbon dioxide from the atmosphere and generating certified carbon credits. DLA Piper represented Ardian with a team composed by: Caroline Pimpaud (Partner, Investment Funds) who led the structuring of the Luxembourg fund, supported by Céline Curatola (Senior Associate, Investment Funds) and Luis Muñoz (Partner, Tax) on Luxembourg tax matters; and Diane Campion de Poligny (Partner, Investment Funds) and Pia Sabatier (Associate, Investment Funds) together with Raphaël Béra (Partner, Tax), Sarah Mordoff (Counsel, Tax) and Menad Benseghir (Associate, Tax) providing advice on the French legal and tax aspects.
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