17 August 2012

Carey Olsen and Aztec advise Inflexion Private Equity on co-investment fund

Inflexion has been advised by Carey Olsen and Aztec Group on the launch of its latest Guernsey-domiciled private equity fund - the 2012 Co-Investment Fund. The fund, which initially targeted £75m of commitments, closed in record time on 31 July at its hard cap of £100m, six weeks after launch.

The fund has been established as a closed-ended, registered, collective investment scheme and will act as a co-investment fund alongside Inflexion’s 2010 Buyout Fund on which both Carey Olsen and Aztec Group previously advised.

The team was led by corporate partner Andrew Boyce who was assisted by senior associate James Stockwell. The firm acted alongside Ashurst as the UK legal advisers to the fund. The Aztec Group has been appointed as designated manager and administrator to the fund, continuing their close involvement with Inflexion since the inception of Inflexion’s Guernsey structure.

Alistair Hamilton, CFO at Inflexion, said: “The teams at Carey Olsen and Aztec both did a tremendous job advising Inflexion on this fundraising. Everyone that worked on this project can be proud of the work they did. Raising the fund in six weeks was a real achievement.”

Matt Horton, associate director at Aztec Group, said: “Once again Inflexion has been highly successful with their fundraising. This is an exciting time for Inflexion and this success demonstrates their investors’ commitment to both them and Guernsey. It’s been a pleasure working with both Inflexion and Carey Olsen and we look forward to continuing this great relationship in the future.”

Mr Boyce said: “We are delighted to have been able to again work alongside Inflexion on the establishment of their new fund. Carey Olsen has extensive experience in establishing private equity structures and the team, together with other advisers, were able to put the fund structure in place swiftly helping Inflexion to fundraise in just six weeks - a rarity in today’s climate even by established houses such as Inflexion.”