11 February 2020
Carey Olsen advises Hollyport Capital on US$1 billion secondaries fund
Carey Olsen's investment funds team in Jersey has advised long-standing client Hollyport Capital on the launch and final closing of its latest secondaries fund, Hollyport Secondary Opportunities Fund VII (Fund VII).
The fund, which closed at its hard cap of US$1 billion, will continue with the strategy of previous Hollyport funds and invest in mature private equity assets in the secondary market that enable investors in the asset class to realise non-core investments.
Working alongside lead counsel Macfarlanes, Carey Olsen advised on the fund's establishment as a Jersey Expert Fund and on all Jersey-related corporate and regulatory aspects of its launch. The team was led by partner James Mulholland and assisted by senior associate Arindam Madhuryya.
James said: "Carey Olsen is pleased to have once again assisted Hollyport on the launch of its latest Jersey fund structure. The hugely successful fundraise demonstrates the confidence in Hollyport as an investor in the secondary market for mature private equity assets and its market leading position. Similarly, we are glad that Jersey continues to be seen as a jurisdiction of choice for well-known fund managers such as Hollyport."
The US$1 billion raised by Fund VII is double the amount raised for its predecessor, which closed at US$500 million in 2017.