Carey Olsen advises Hollyport Capital on US$4.5 billion fund close

Carey Olsen's investment funds team in Jersey has advised long-standing client Hollyport Capital ("Hollyport") on the launch and final close of its US$4.5 billion fund, Hollyport Secondary Opportunities Fund IX (the "Fund"), which significantly exceeded its US$3 billion target and raised twice as much as its US$2.2 billion predecessor.

The oversubscribed vehicle, which last year became Hollyport's ninth flagship fund and Europe's sixth largest secondary fundraise, received a re-up rate of 150% and more than US$1 billion in new capital. By the end of 2025, the Fund had already invested at least US$1.1 billion across 12 transactions. It will invest in mature PE assets through LP portfolios and GP-led transactions, in line with Hollyport's strategy.

The Carey Olsen team advising Hollyport on all Jersey aspects of the Fund structuring, establishment, regulation and closing comprised partners James Mulholland and Arindam Madhuryya, senior associate Edward Kelleher-Ward, and associates Charlie Hurst and Danielle Hawkins. The team previously advised Hollyport on the launch and final close of its US$2.2 billion Hollyport Secondary Opportunities Fund VIII and US$1 billion Hollyport Secondary Opportunities Fund VII.

James Mulholland commented: "We are pleased to have advised Hollyport Capital on its hugely successful latest fundraise, which affirms the company's position as a leading investor in the European secondary market. Our ongoing partnership with Hollyport not only reflects the team's expertise in advising on complex, high-value fund launches, but also reinforces Jersey's continued appeal as a leading funds jurisdiction."

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