11 May 2021
Carey Olsen advises TriSpan on latest mid-market fund launch
Lawyers from Carey Olsen's corporate team in Guernsey have advised global private equity firm TriSpan on the launch and first close of TriSpan Opportunities II LP (Fund II).
Fund II, which has so far collected commitments of approximately US$100 million, is following in the path of its successful predecessor, TriSpan Opportunities LP, and is focusing on opportunities in the lower mid-market in the United States and Europe.
It will typically seek majority investments in proprietary buy and build opportunities alongside strong founders and management teams with a focus on multi-unit health care, business services or specialty manufacturing with limited use of leverage.
Working alongside lead onshore counsel Mishcon de Reya, the Carey Olsen team advising on the structuring, establishment and Guernsey regulatory aspects of Fund II's launch was led by partner Andrew Boyce, assisted by senior associate Matthew Brehaut and associate Rachel de la Haye.
Andrew said: "Having been successful with their first fund offering we were delighted to support TriSpan on their successor fund's launch and successful first close. Their commitment to Guernsey demonstrates the continued value that sponsors put on the market experience, international standard regulation and quality service providers to be found here."
Dave Allan, COO & CFO of TriSpan, added: "We are thrilled to work with Carey Olsen and with our first closings. Fundraising traction so far indicates that we are on our way to reach our fund target size and expect a final closing at our hard cap. Opportunities Fund II is on its way to complete its third platform investment by mid-July."
Founded in 2015, TriSpan has invested in 13 platforms totalling more than 45 companies to date.