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Carey Olsen

Work 01481 727272
Fax 01481 711052
Cape Town, Grand Cayman, Hamilton, Hong Kong, London, Singapore and 3 more

Ben Morgan

Work 01481 741557
Carey Olsen

Work Department

Corporate; finance; investment funds.


Ben is head of the corporate and finance group in Guernsey and has significant experience in investment funds and corporate law gained from practising with Carey Olsen.Ben advises on the formation of all types of alternative investment funds including hedge funds, property funds and private equity funds as well as banking and finance transactions. He acts for a large number of the well-known private equity fund managers and is recognised as one of the most prominent investment funds lawyers in the Channel Islands by the Legal Media Group’s ‘Expert Guide’ on investment funds.Ben was listed in the International Who's Who Legal of Private Funds Lawyers in 2014. Ben is also a member of Carey Olsen LLP which is the firm's London office.


Qualified as English Solicitor 1992; Norton Rose, Moscow; joined Carey Olsen 1999; advocate 2003; partner 2003.




Law Society.


Elizabeth College, Guernsey; Lancaster University (LLB); College of Law, Chester (Law Society Finals).


Banking and finance

Within: Banking and finance

Carey Olsen’s banking and finance practice, which has particular strength in investment fund finance, is ‘responsive and supportive, giving sound advice and guidance across a strong multi-jurisdictional team’. Tom Carey and senior associate Andrew Lister advised Goldman Sachs on a bond issuance to finance Global University Systems’ acquisition of Arden University, which necessitated a taking of security over shares of a Guernsey company. Carey and senior associate Oliver Quarmby also advised Permira Advisers and Permira Debt Managers on various bridge facilities for its funds, including a €7.25m facility for buyout fund Permira VI and a €768m facility for Permira Credit Solutions III. Other names of note include Andrew Boyce, David Crosland, Christopher Anderson, newly-elected partner Annette Alexander, and Ben Morgan, who now heads the Guernsey corporate practice following Graham Hall’s move to a consultant role. The firm also acts for Barclays and Raven Russia.

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Corporate and M&A

Within: Corporate and M&A

Carey Olsen is ‘very knowledgeable in the area – onshore firms enjoy working with it’. The firm handles a range of matters including onshore real estate acquisitions, private equity purchases and stock market listings of Guernsey companies. The ‘responsive and reliableTony Lane gives ‘sound, practical advice’ – in the real estate space, he advised Clarion Housing Group on the sale of its German rental business to Heitman European Residential Investment Partners. Christopher Anderson and senior associate James Stockwell handle significant acquisitions for private equity firma, while Tom Carey (who has ‘a sharp mind with an in-depth knowledge of all aspects of corporate law’) and senior associate Oliver Quarmby acts for Permira Advisers. Carey also advised Greybull Capital on its £165m investment into Monarch Airlines. Newly-promoted partner Annette Alexander and Morgan advised VinaCapital Vietnam Opportunity Fund on its migration from the Cayman Islands to Guernsey and transferring its listing from AIM to the London Stock Exchange’s main market. At a local level, Lane advised a consortium of buyers on the purchase of Sandpiper CI, which owns and operates a number of leading retailers in the Channel Islands. The ‘calmly pragmatic and commercialDavid Crosland and Andrew Boyce also lead nine-figure deals. The firm recruited four new senior associates in 2016, including Matthew Brehaut, previously of Royal Bank of Scotland’s in-house team, who is ‘creative and determined to get deals done’. Ben Morgan heads the practice after Graham Hall transitioned from the partnership to a consultancy role.

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Investment funds

Within: Leading individuals

Ben Morgan - Carey Olsen

Within: Investment funds

A cut above the competition’ for many, Carey Olsen is ‘technically strong, very responsive and proactive, and invariably a pleasure to work with’. The firm handles a range of private equity fund formations, covering asset classes including buyouts, direct lending, structured credit and real estate. Ben Morgan, who now leads the team, is ‘first rate – smart, practical and very experienced’; he and ‘very thorough’ new partner Annette Alexander advised AnaCap Financial Partners on the launch of its third fund, which raised €850m to invest in European financial services companies. Also in the buyout space, Tom Carey (who ‘stands out for his ability to identify the key elements of the most complex situation and to present practical solutions’) advised Permira Partners on the closing of its sixth buyout fund, which raised €7.25bn, and on a €275m structured credit fund. Andrew Boyce advised Park Square Capital Partners on the launch of a €1.2bn subordinated debt fund. Other key figures include Christopher Anderson, who has ‘great client-relationship skills and leads by example’, and David Crosland, who advised Macquarie on the launch of its €4bn European infrastructure fund, the fifth such fund launched by the client. In the listed funds space, Morgan and Alexander advised Hadrian’s Wall Secured Investments on its IPO on the London Stock Exchange. Also recommended is associate James Cooke, who is ‘super-reactive and will do his utmost to get the job done’. Graham Hall has become a consultant.

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Legal Developments by:
Carey Olsen

  • Guernsey and Jersey issue draft Guidance Notes for FATCA-based reporting

    On 31 January 2014 the Crown Dependencies of Guernsey and Jersey jointly issued draft Guidance Notes (in conjunction with the Isle of Man) on the implementation of obligations arising under the  intergovernmental agreements ("IGAs") signed by each island with the UK in October 2013 and  with the US in December 2013. The draft Guidance Notes, as currently published, are substantially the same for each island, subject to certain island-specific differences. The current draft is to be to be regarded as a work in progress and the views of local industry in each island are being sought.
    - Carey Olsen

Legal Developments in Guernsey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • In re B; B v T (Court of Appeal, 11 July 2012)

    A trustee's duty of confidentiality has recently been discussed and to some extent clarified in the recent Guernsey Court of Appeal decision of In re B; B v T (Court of Appeal, 11 July 2012). This summary has been prepared to provide you with a summary of the case as well as the general issues raised, but is not intended to cover all matters or to provide commentary.   This summary does not constitute legal advice.
  • The Company Administration Regime in Guernsey

  • Guernsey Image Rights Legislation

    The Image Rights (Bailiwick of Guernsey) Ordinance 2012 (the Ordinance) and The Image Rights (Bailiwick of Guernsey) Regulations, 2012
  • Guernsey Foundations

    The Foundations (Guernsey) Law, 2012 (Law) is awaiting Royal assent, expected to be given by the end of the year or early next year. Whilst Guernsey is not the first jurisdiction to provide for foundations, the Law does provide a number of unique options for individuals wishing to take advantage of the benefits provided by foundations. The purpose of this note is to provide both a general summary of the features of a Guernsey foundation, as well as a summary of these unique options that will be available under the Law.
  • Competitive Guernsey

    Guernsey has been considering the introduction of local competition law since at least 2005 and by bringing into effect The Competition (Guernsey) Ordinance, 2012 on 1 August 2012, has introduced an effective Competition Law regime, to regulate the same 3 core areas recognized in most competition regimes, namely the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions.
  • Foundations in Guernsey

    On 25 July 2012 the States of Deliberation, Guernsey’s parliament, approved the project de loi The Foundations (Guernsey) Law, 2012 (the “Law”). Subject to Privy Council approval, the Law is expected to come into force in late 2012 or early 2013. This note is a brief summary of certain features of the new Law.
  • Friendly Rivalry? The Competition Laws of the Channel Islands

    • New Competition Law for Guernsey in force on 1 August 2012 • Jersey and Guernsey now both regulate the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions • Key differences between the islands' competition laws • Overall, a pan-Channel Island approach to regulation
  • Making a will in Guernsey May 2012

    On 2 April 2012 The Inheritance (Guernsey) law 2011 came into force which has replaced Guernsey’s forced heirship regime with a system of full testamentary freedom (accompanied by family and dependent provisions).
  • Listing Specialist Securities on the Channel Islands Stock Exchange

    The Channel Islands Stock Exchange LBG ("CISX") began its operations in October 1998. It is based in St Peter Port, Guernsey and provides a listing facility and bespoke trading platform.
  • Image rights laws to be introduced in Guernsey

    “Image is everything” - Andre Agassi once famously declared in an advert for camera brand, Canon.