28 February 2019

Carey Olsen advises Kreos Capital on €700 million growth debt fund

Lawyers from Carey Olsen's investment funds team in Jersey have advised long-standing client Kreos Capital (Kreos) on the launch of its largest ever growth debt fund.

The fund, Kreos Capital VI (Expert Fund) L.P., has secured €700 million of committed capital and will continue the strategy of previous Kreos funds and provide growth-debt financing to high-growth companies across Europe and Israel. Kreos has already started to deploy capital from the fund and expects to commit some €250 – 300 million per annum over the coming years.

Working alongside onshore counsel Goodwin Procter, 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 associate Arindam Madhuryya.

James said: "Carey Olsen is pleased to have once again assisted Kreos Capital on the launch of its latest fund. The fact that Kreos VI was oversubscribed is testament to Kreos' status as a respected and leading provider of growth-debt financing solutions to high-growth companies. Kreos' continued use of Jersey is also further evidence of the island's continued attractiveness to both fund managers and the international investor community."

Since 1998, Kreos has completed 540 transactions and committed more than €2.3 billion in 15 different countries.