24 October 2014

Carey Olsen advises on Kennedy Wilson Europe Real Estate’s £351.5 million secondary fund raising

Carey Olsen has advised existing client Kennedy Wilson Europe Real Estate plc (KWERE) on its secondary equity issuance which raised £351.5 million (through a firm placing and placing and open offer).

KWERE is a closed-ended collective investment fund incorporated in Jersey that invests primarily in real estate and real estate loans in Europe.

The launch follows Carey Olsen’s involvement in KWERE's unprecedented £1 billion fund raise earlier this year through its initial public offering (IPO) on the London Stock Exchange’s (LSE) main market. It was the largest ever real estate fund float to be listed on the exchange.

The Carey Olsen team was led by funds partner James Mulholland assisted by senior associates Christopher Griffin and Claire Le Quesne and associate Stephanie Nisbet.

Mr Mulholland said: “We supported the Kennedy Wilson team with its secondary fund raise very soon after its high-profile IPO. The success and speed of this new deal endorses KWERE's investment strategy from both new and existing investors.

"Carey Olsen leads the way in real estate private equity in Jersey not just from our work with Kennedy Wilson but also with an array of clients who have been actively fund raising.”

Carey Olsen has received significant recognition for its expertise in this practice area including being named the number one offshore legal adviser to LSE clients in the Corporate Adviser Rankings, achieving tier one status across the board in Jersey in the latest Legal 500 rankings and tier one ranking for its corporate and funds work by IFLR1000.