Created Date:
13 January 2022
Office buildings

Carey Olsen advises on the launch of Gresham House British Sustainable Infrastructure Fund II

Carey Olsen's Guernsey corporate team has advised its long-standing client Gresham House on the launch of Gresham House British Sustainable Infrastructure Fund II LP (BSIF II).

BSIF II, which has secured a £100 million first close and has a target fund size of £500 million, is a continuation to the first BSIF infrastructure fund and seeks to invest in sustainable infrastructure solutions that directly address key environmental and societal challenges.

Managed by Gresham House's dedicated Sustainable Infrastructure team, it will invest in six target sub-sectors where infrastructure may best deliver financial and social returns, including; decarbonisation, digital inclusion, health and education, regeneration, resource efficiency and waste solutions. The overall investment approach and anticipated outcomes aim to be well aligned to the United Nations' Sustainable Development Goals.

Working alongside onshore counsel Brodies, Carey Olsen partner Ben Morgan, assisted by senior associate Alex Mauger, associate Oliver Orton and paralegal Nicholas Branch, advised on the structuring, establishment and regulation of BSIF II as a registered collective investment scheme in Guernsey.

JTC, a leading international corporate service provider, will provide administration and accounting services to the fund from its Guernsey office.

Ben Morgan said: "We are pleased to support long-standing client Gresham House on the launch of its latest Guernsey fund structure. Similarly, we are pleased that Guernsey continues to be a jurisdiction of choice for well-known fund managers to establish sustainability-related investment funds."

Samia Lone, head of legal, and Phil Barrow, senior legal counsel, at Gresham House said: "We have drawn on the expertise and experience provided by Carey Olsen over a long period of time and continue to enjoy a good relationship with the team."

Gresham House is a London Stock Exchange listed alternative asset manager with £4.7 billion of assets under management and focuses on five areas of alternative investments – forestry, new energy, housing, sustainable infrastructure, and public and private equity. Clients include public and private pension funds, family offices, high net worth individuals, charities and endowments.