28 June 2017

Carey Olsen advises ADM Capital on $100 million agribusiness investment fund

Carey Olsen’s Guernsey funds team has advised ADM Capital Europe LLP, a London-private equity and investment advisory firm, on the launch of its global agribusiness investment fund, the Cibus Fund.

The Cibus fund held its first close of $100 million on 2 May and is targeting a $500 million final close in 2018. The fund will focus on mid-market investment opportunities in sustainable food processing and production companies, primarily across Europe and Australasia that look to provide for the growing demand for high value added foods.

It will have a secondary mandate to invest equity growth capital in parts of the food and agriculture value chain primed for technological disruption and innovation.

The fund has attracted high quality cornerstone investment including a significant commitment from Nasdaq-listed insurance, reinsurance and mortgage insurance firm, Arch Capital Group Ltd.

Carey Olsen partner Ben Morgan led the team advising on the Guernsey aspects of the fund’s establishment, regulatory authorisation and launch.

Mr Morgan said: “Carey Olsen has built a reputation as the market leader for its funds expertise and advising ADM Capital on the successful launch of its first sector-focused fund demonstrates this and reaffirms the island's position as the premier investment fund domicile.”

Jeremy Alun-Jones, ADM Capital COO, commented: “Guernsey provides us with the right mix of fund structure, regulation and support. Carey Olsen provided clear advice and the necessary expertise to guide us through the Guernsey fund establishment process, documentation and regulatory requirements. They also provided support in the establishment of a variety of co-investment vehicles that invest in the Cibus strategy with speed and efficiency."