10 November 2015

Carey Olsen advises on new Axiom Specialist Fund Market IPO

Carey Olsen's Guernsey corporate team has advised on the successful initial public offering of Axiom European Financial Debt Fund Limited and its admission to trading on the Specialist Fund Market of the London Stock Exchange.

The fund raised approximately £50.7 million and included a placing programme to issue up to 500 million shares.

The new Guernsey fund will invest in a diversified portfolio of regulatory capital financial investments issued by European financial institutions.

Our Guernsey corporate practice advised on the Guernsey aspects of the IPO alongside Berwin Leighton Paisner. Liberum Capital Limited is the fund's sole financial adviser and bookrunner and Elysium Fund Management has been appointed to be the fund's administrator. The investment manager of the fund is Axiom Alternative Investments.

Partner Ben Morgan, who was assisted by senior associate Annette Alexander and associate Alexandria du Jardin, commented:

"Guernsey is the jurisdiction of choice for London Stock Exchange fund IPOs. Carey Olsen's proven expertise and experience advising IPOs proved invaluable to Axiom. The universe of investable liquid regulatory capital financial instruments is extremely large, which makes the future growth of this fund extremely exciting."

Carey Olsen advises more LSE listed clients than any other offshore law firm (Corporate Advisers Rankings Guide, 2015).