31 October 2017

Carey Olsen and Ipes advise Phoenix Equity Partners on £415 million fund

Carey Olsen and Ipes in Guernsey have assisted Phoenix Equity Partners with the launch of its fourth fund which has closed with commitments of £415 million.

Phoenix Equity Partners (PEP) is a leading private equity investor working with entrepreneurial teams to help grow medium-sized, UK-based companies valued at up to £150 million. This fourth fund, Phoenix Equity Partners 2016 fund, will continue this investment theme.

The new fund, which closed in July, attracted investment from a range of high-quality existing and new investors including public and corporate pension funds, sovereign wealth funds, insurance companies, family offices, fund of funds and asset managers across North America, Europe and the Middle East.

The Carey Olsen team advising on the launch of the fund was led by partner David Crosland with assistance from James Cooke and Colin Calvert.

Mr Crosland said: “It was a privilege to help Phoenix for the first time with this significant fundraise. That it was achieved at a time of such uncertainty was a testament to Phoenix's reputation and track record, and Guernsey's stability and agility as a fund domicile."

IPES in Guernsey was appointed as the fund administrator. Barry McClay, Ipes Head of Fund Administration, commented: "We are delighted to have supported Phoenix Equity Partners through the close of its fourth fund. The fact that the fund had such high commitments shows the confidence the market has in their investment and management capabilities."