21 January 2021
Carey Olsen advises Montana Capital Partners on its fifth secondary fund
Carey Olsen's Jersey funds team has advised the Swiss investment adviser Montana Capital Partners AG on the launch of its fifth secondary fund, mcp Opportunity Secondary Programme V (mcp OSP V), which recently held its final closing at a hard cap of €1.3 billion in committed capital.
Significant support from existing and new investors led to substantial oversubscription during a brief fundraising period. Investors include sovereign wealth funds, pension funds, insurance companies, family offices and foundations from Europe, Asia, the Middle East and the United States.
mcp OSP V takes advantage of the island's tried and tested Jersey Expert Fund regime. The fund focuses on solutions for investors to reshape and optimise their portfolios and covers the full range of co-investments directly into companies, single fund stakes, small portfolios, fund of funds stakes, and structured solutions to reduce risk capital. Furthermore, Montana Capital Partners works with general partners, providing them and their investors with innovative liquidity solutions.
Carey Olsen partner Chris Griffin led the team, advising on the Jersey aspects of the fund's launch, assisted by senior associate Sarah Townsend and associate Luke Costello.
Chris said: "It was great to assist with the launch of mcp OSP V - with Montana's great track record and its strong institutional investor base, this fund easily hit its hard cap despite the fundraising challenges posed by COVID-19."