22 June 2021
Carey Olsen advises FSN Capital on latest mid-market fund launch
Carey Olsen's investment funds team in Jersey has advised leading northern European private equity investment firm FSN Capital on the launch of its latest mid-market fund, FSN Capital VI (Fund VI), with commitments of €1.8 billion. Fund VI builds upon FSN Capital's strong and supportive existing investor base whilst also attracting a substantial number of new investors from around the globe.
The fund, which was oversubscribed and closed above its original hard cap, will continue FSN Capital's proven investment strategy of targeting control buyout investments of mid-sized companies in Northern Europe. Fund VI is also classified as an Article 8 or 'light green' fund under the European Union's new Sustainable Finance Disclosure Regulation, further underlining FSN Capital's leading industry position within the environmental, social and governance (ESG) space, having reported publicly on the ESG performance of its portfolio companies since 2013.
Working alongside international counsel Kirkland & Ellis, the Carey Olsen team advised FSN Capital on all Jersey legal and regulatory aspects relating to the fund's structuring, establishment, fundraising and financing. The Carey Olsen team was led by partner James Mulholland, assisted by senior associate Arindam Madhuryya and associate Jennifer Liss on the fund and regulatory aspects, and by counsel Claire Le Quesne, and associate Stephanie Hobbs on the financing side.
James said: "Our Jersey investment funds team is very pleased to have supported long-standing client FSN Capital on the launch of its latest Jersey mid-market fund. The hugely successful fundraise, a large part of which was completed in a virtual environment because of the impact of the pandemic, demonstrates the confidence in FSN Capital as an investor in northern Europe's mid-market and its own market leading position."
Carey Olsen's investment funds practice in Jersey is ranked in Tier One in the 2021 edition of The Legal 500 UK with the team praised for having a 'strong technical base with the ability to be creative and commercial'.