22 June 2020
Guernsey fund launch for Corten Capital
Carey Olsen and Alter Domus in Guernsey have supported London-based Corten Capital in achieving a final closing of Corten Capital I, its first private equity fund, at €392 million.
Corten was founded by Joseph Schull, Simon Begg, Andrew Sukawaty and Don Robert and, through Corten Capital I, will focus on acquiring and building market leading, technology-driven and fintech B2B services, information and software companies across Europe and North America.
Carey Olsen provided Guernsey legal advice in respect of the fund structuring and launch processes. The team was led by partner David Crosland with support from senior associate Matt Brehaut.
The Alter Domus team comprised Tom Amy (country executive), Tina Kerrigan (senior manager) and Katie Le Gallez (manager). Alter Domus will provide ongoing administration, reporting and regulatory services to the Corten Capital I structure.
Simon Begg at Corten commented: "We chose Guernsey in recognition of its international reputation and for our investor base, including university endowments and large family offices from the United States, Europe and Asia. With the experience and support of the specialist teams from Alter Domus and Carey Olsen, we are delighted with this successful outcome."
Carey Olsen's David Crosland said: "This is another success for the Guernsey funds sector. We are pleased that Carey Olsen has been able to support Corten on this important landmark for their business."
Tom Amy from Alter Domus added: "We take great pride in helping fund managers establish Guernsey collect investment schemes for the first time, ensuring they have a clear roadmap from start to final closing."