28 September 2017

Carey Olsen advises on €320 million Guernsey fund raising

Carey Olsen's corporate team in Guernsey has recently advised on the launch of the ESSVP IV Fund ("the Fund"). The Fund held its final closing in the second quarter of 2017 and successfully raised total capital commitments of €320 million.

The Fund is advised by Orlando Management AG ("Orlando"), and is the fourth Guernsey domiciled fund advised by Orlando. It will focus on investments in special situation industrial assets in Germany and German-speaking countries as well as the Nordics, with sales typically in the range of €50-500 million. IAG have been appointed as the Fund's company secretary and administrator.

Partner Tom Carey, who led the firm’s team advising the general partner on the Guernsey legal aspects of the launch, said: “The decision to structure a fourth fund in Guernsey is a strong endorsement of the expertise available here on the Island, and our involvement in the latest fundraise is reflective of our position as the market leading legal adviser to Guernsey funds.”

Martin Scott, Director of IAG said: “IAG is delighted to have won the mandate to act as administrator to the ESSVP IV Fund and we look forward to having a close and successful working relationship with the various investors and the Advisor Orlando.”