19 April 2012

Carey Olsen advises on £165 million initial public offering

Carey Olsen has advised the BlueCrest BlueTrend Limited fund on its initial public offering (IPO) on the London Stock Exchange (LSE) Main Market which raised £165m.

The fund has been established in Guernsey as a closed-ended investment company. Investors will have access to BlueCrest Capital Management’s trend-following programme, BlueTrend, which uses a systematic approach to seek to achieve its investment objective of long-term capital appreciation.

BlueCrest is a Guernsey-based alternative asset manager and invests across numerous asset classes globally.

Carey Olsen’s team, including corporate partner Tom Carey and associates Oliver Quarmby and Alex Mauger, advised on the Guernsey aspects of the IPO and worked alongside UK legal advisers, Herbert Smith.

Advocate Carey said: “Guernsey continues to lead the way for non-UK LSE listings and BlueCrest’s latest IPO is a continuing endorsement of the excellent services that the island offers organisations of this pedigree.”