24 October 2012

Carey Olsen advises Insight on distressed consumer debt fund

Carey Olsen has advised Insight Investment Management on the establishment of a Guernsey-registered fund constituted as a limited partnership which will invest in distressed consumer debt and is listed on the Irish Stock Exchange. The Insight Consumer Debt Recovery Fund II LP is aiming to raise €400m in total commitments.

Corporate partner Graham Hall and associate Alex Mauger acted for Insight on the establishment of the fund entities and advised on a range of aspects in respect of regulation and the fund’s operational documentation.

Advocate Hall said: “The establishment of distressed debt funds is growing as a consequence of the uncertain financial climate. These funds have shown a pattern of providing good returns for investors. We have established a number of distressed debt funds in Guernsey in recent years and I think this demonstrates that Guernsey is well positioned as a centre for structuring this type of fund. It has been a pleasure to work with Insight once again.”

Carey Olsen advised Insight on the establishment of Insight Consumer Debt Recovery Fund I LP in Guernsey in 2010.