Paula McCabe is a leading funds-investment lawyer in Australia with more than two decades of focused experience advising funds, investment managers and financial services businesses. As founder and legal director of PMC Legal, she combines high-level technical knowledge of funds structures with pragmatic commercial insight drawn from longstanding engagement across domestic and international fund markets. Her practice spans fund establishment, investment management arrangements, regulatory compliance and operational outsourcing, positioning her as a go-to adviser for managers, trustees and responsible entities, funds service providers and institutional stakeholders.
Prior to establishing PMC Legal in 2011, Paula served as a partner in the Sydney office of an international law firm where she was recognised as the firm’s managed funds expert, and was named among Asia’s Top 500 lawyers for her specialist work in financial services. Paula is admitted to practise in Australia and leads PMC Legal as a fully incorporated legal practice specialising in financial services and managed funds.
Paula’s core practice focuses on managed funds and investment management arrangements across traditional and alternative asset classes. She routinely advises on fund establishment and offerings (domestic and offshore) including listed, quoted, dual access and unquoted funds investing in listed equities, fixed income, alternative assets (including private markets and private credit), property, infrastructure and carbon assets. Her technical work covers Australian Financial Services (AFS) licensing, disclosure obligations, compliance frameworks, custody and administration outsourcing, distribution agreements and fund rationalisation and closures. This breadth enables clients to tap a single adviser for lifecycle fund work from initial structuring to wind-up.
What distinguishes Paula as a funds-investment lawyer in Australia is a blend of regulatory depth, practical operations experience and international structuring capability. She advises trustees, platforms, custodians, administrators, superannuation trustees and specialist managers, and is comfortable implementing cross-border fund structures in jurisdictions commonly used by Australian managers. Her hands-on appreciation for day-to-day fund operations—rooted in close collaboration with industry practitioners—helps translate regulatory requirements into operationally viable solutions for clients.
Paula has led and supported the establishment of funds across Australia, Cayman Islands, Singapore, Ireland, Luxembourg and the United States, and has worked on funds using swaps, deferred purchase agreements and note programs. She has served as an independent member and chair of compliance committees for a range of fund and investment businesses, and has been invited to contribute to industry commentary and education on new fund structures and regulatory developments. Paula is active in industry bodies and has delivered webinars and podcasts for practitioners and new market entrants, translating regulatory developments into practical compliance and disclosure strategies.
Paula currently serves on the Regulatory Committee of the Alternative Investment Management Association (AIMA) and participates in industry forums addressing compliance and governance matters for managers and trustees. Her committee roles and independent compliance appointments evidence a recognised capability to advise on ASIC engagement, AML/CTF obligations, disclosure and licensing questions central to funds governance. These positions keep her closely attuned to policy shifts and enforcement priorities that materially affect funds and their service providers.
Paula contributes to industry publications and has been a featured speaker in webinars and podcasts that unpack regulatory reports and market entry strategies for foreign managers. She co‑presented in industry webinars translating ASIC’s findings into practical guidance for fund managers and has participated in discussions on market entry, licensing, and best-practice disclosure for international fund managers seeking Australian investors. Paula has even presented as an expert before the Australian Parliamentary Joint Committee on Corporations and Financial Services. Her writing and presentations are targeted at both legal teams and executive decision-makers tasked with implementing compliant funds strategies.
The funds-investment landscape in Australia is shaped by evolving regulatory scrutiny, heightened product design, distribution and disclosure expectations and growing interest in alternative asset classes and international capital flows. Recent regulator focus on product design, distribution and disclosure expectations, as well as governance and outsourcing arrangements, means managers must align product documentation, compliance frameworks and operational controls with ASIC expectations and global best practice. For businesses launching or operating funds, specialist legal advice is essential to manage licensing pathways, structuring risks, custody and platform arrangements, and to respond efficiently to regulatory reviews.
For businesses and individuals in Australia seeking a funds-investment lawyer in Australia, Paula offers a pragmatic, technically robust and commercially-minded service model. Her experience founding and running a boutique practice focused on funds means clients receive senior-led advice with direct partner involvement and a track record of implementing solutions across the product lifecycle. Whether the requirement is a new fund launch, AFS licensing, complex outsourcing or a regulatory remediation, Paula provides actionable legal strategies designed to reduce regulatory risk and support business growth.
Paula’s clients include investment managers, wholesale trustees, responsible entities, superannuation trustees, custodians, administrators, platform and MDA providers and financial advisers. She is known for translating legal complexity into practical steps for in-house legal teams, compliance officers and senior executives, and for tailoring engagement terms to client needs—ranging from project-based instructions to ongoing compliance oversight and independent committee appointments. Her approach prioritises clear documentation, risk-based compliance and solutions that are implementable within clients’ operational models.
Paula McCabe combines deep funds-investment technical knowledge with extensive industry engagement and practical commercial judgment, making her a trusted adviser for funds and investment managers operating in Australia and across key offshore jurisdictions. As a founder-led practice with demonstrated regulatory credentials and sector thought leadership, PMC Legal under Paula’s direction is well placed to support clients confronting the regulatory, operational and strategic challenges of running funds today. Prospective clients seeking specialised legal guidance on managed funds will find her expertise particularly relevant for high-stakes fund launches, governance reviews and cross-border fund programs.
Paula McCabe is a leading funds-investment lawyer in Australia and the founder and legal director of PMC Legal (established 2011). She trained and practised at senior levels in global and national firms, served as a partner in a Sydney office where she specialised in managed funds, and has been named among Asia’s Top 500 lawyers. She is admitted to practise in Australia.
PMC Legal advises on fund establishment and offerings, investment management arrangements, AFS licensing and compliance frameworks, custody and administration outsourcing, distribution agreements, fund rationalisation and closures, regulatory remediation and ongoing compliance oversight.
Paula advises on traditional and alternative funds including equities, fixed income, alternative assets (private equity & venture capital), property, infrastructure and carbon assets, as well as capital-protected and structured products and arrangements using swaps, deferred purchase agreements and note programs.
She has led and supported funds across Australia, the Cayman Islands, Singapore, Ireland, Luxembourg and the United States and routinely implements cross-border fund structures commonly used by Australian managers.
Her clients include investment managers, wholesale trustees, responsible entities, superannuation trustees, custodians, administrators, platform and MDA providers and financial advisers. She offers senior-led advice with direct partner involvement, tailored engagement terms (project-based, ongoing oversight or independent committee appointments) and practical, operationally focused solutions.
Paula serves on the Regulatory Committee of AIMA, participates in industry forums, has held independent compliance and committee roles, and advises on ASIC engagement, AML/CTF obligations, disclosure and licensing. She also contributes to industry publications and presents webinars and podcasts translating regulatory developments into practical guidance.
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