03 April 2019

Carey Olsen support Apse Capital on latest Guernsey Private Investment Fund launch

Lawyers from Carey Olsen's investment funds team have advised Apse Capital on the launch of its Guernsey Private Investment Fund (PIF), Apse Capital Bridge Fund L.P.

Apse Capital is a new independent European private equity group focusing on buyout and development capital opportunities in European tech enabled information and services businesses. The group's inaugural private equity fund has been established under Guernsey’s PIF regime which offers an expedited route to market for eligible funds and provides fund managers with greater flexibility and simplicity.

The Carey Olsen team advising on the launch was led by partner Christopher Anderson, assisted by senior associate Matt Brehaut.

Mr Anderson said: "It was great to work with Apse Capital on this launch. Carey Olsen advised on the establishment of the first ever PIF in 2017. This innovative and flexible Guernsey structure significantly reduces the cost and processing time for launching a fund."

Weil, Gotshal & Manges acted as onshore counsel, while Northern Trust will provide fund administration and banking services to the fund.

Apse Capital partner Ashley Long commented: "We were delighted to be able to launch the fund in under three weeks, including securing the regulatory approvals. This is testament to Guernsey’s favourable regulatory environment for private equity funds, as well as the dedication of the Northern Trust professionals and that of our legal advisers’ Carey Olsen in Guernsey and Weil, Gotshal & Manges in London."

Dave Sauvarin, country head of Northern Trust in the Channel Islands, added: "The PIF is just part of the tool box of solutions for alternative fund managers looking to domicile funds in Guernsey. Northern Trust is pleased to have worked closely with Apse Capital and its legal advisers to achieve this result."