23 November 2021

Carey Olsen and Northern Trust support Castelnau Group’s London Stock Exchange debut

Carey Olsen and Northern Trust have supported Castelnau Group Limited on its initial public offering (IPO) on the London Stock Exchange (LSE).

The Guernsey-domiciled investment company, managed by Phoenix Asset Management, recently launched on the LSE following a £178 million (approximately US$245 million) IPO. Castelnau is focused on investing in both public and private companies with initial investments including firms providing digital analytics. 

The Carey Olsen team advising Phoenix Asset Management on all Guernsey legal and regulatory aspects of the IPO was led by partner Ben Morgan, with assistance from senior associate James Cooke and associate Kristina Mikhaylova. 

Ben said: "We are delighted to have supported Castelnau Group on its successful admission to the Specialist Fund Segment of the LSE. Our involvement demonstrates both Carey Olsen's extensive capital markets experience and the ongoing attractiveness of Guernsey as a jurisdiction for listed vehicles."

Northern Trust is providing Castelnau Group Limited with a suite of asset servicing solutions, including fund administration, fund accounting, custody and depositary services.

Steve Tatters, chief operating officer, Phoenix Asset Management, said: "Northern Trust’s experience supporting Guernsey-domiciled investment companies with LSE listings, combined with its breadth of asset servicing solutions, were among the reasons for this appointment. Northern Trust’s team together with our Guernsey legal firm, Carey Olsen, worked closely with us to successfully support the IPO."

Dave Sauvarin, head of Northern Trust Channel Islands, said: "Guernsey continues to demonstrate its appeal as a jurisdiction supporting LSE listings with a depth of expertise in this area. Phoenix Asset Management’s decision to use Northern Trust  in Guernsey as the hub for Castelnau Group Limited’s LSE listing is a testament to the depth of the island’s experience and reputation."

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