Investment funds in Guernsey

Carey Olsen

The formation of private equity, real estate, energy and debt funds forms the core of Carey Olsen‘s practice. The firm also advises on structuring and listing on, and obligations attached to, the LSE and TISE. Leading the group is Ben Morgan, offering significant experience in the establishment, structuring and launch of alternative funds. Andrew Boyce is noted for his expertise in open and closed-ended investment vehicles and associated credit and structured finance products, while David Crosland is sought after for his knowledge of the launch and restructuring of such funds. Annette Alexander assists fund promoters and financial institutions with the launch and ongoing management of funds.

Practice head(s):

Ben Morgan


Other key lawyers:

Andrew Boyce; David Crosland; Annette Alexander; Christopher Anderson; Rachel de la Haye


Testimonials

‘Andrew Boyce and Rachel de la Haye are exceptional lawyers who are able to provide very swift and high quality advice! Definitely the team to choose for anything fund related in Guernsey.’

‘They see a large part of the market and are very experienced.’

‘David Crosland is excellent, he is the go-to person in Guernsey.’

‘The team have their finger on the pulse of local practices, which gives a deep experience on which to draw.’

‘Annette Alexander is my go to. Always ready to take my call and always able to provide pragmatic advice, even at short notice.’

‘Ahead of the game on industry developments and commercially-minded in finding workable solutions. Willing and able to accommodate unusual and bespoke requests in a timely and economic manner. Helpful and responsive, able to deal with multiple projects on a variety of fronts.’

‘Excellent availability and responsiveness of the lead partner, and other senior team members, and very pragmatic focus. Senior associates also of very good quality and capable. Excellent team ethic and morale, stemming from the commendable management of the lead partner.’

‘Annette Alexander is an exceptional external counsel. She is commercially driven and also very knowledgable about Guernsey law, she always provides advice on time and the quality of the deliverables is outstanding.’

Key clients

Energy Growth Momentum LLP


Dynam Capital Limited


Synthesis Capital LLP


Work highlights


  • Advised Dynam Capital on the establishment of new open-ended private investment fund Dynam Vietnam Sustainable Growth Fund.
  • Advised Energy Growth Momentum on the formation, structuring and launch of Energy Growth Momentum III, a private investment fund registered as a closed-ended collective investment scheme to invest in renewable technologies within the digital energy services and equipment sector globally.
  • Advised Synthesis Capital on the formation and regulation of a new manager and fund in Guernsey investing in innovative food technology and alternative protein.

Mourant

Mourant‘s funds team advises clients on the establishment and ongoing management of funds in the private equity, hedge fund, real estate and infrastructure sectors, with burgeoning expertise in the crypto-assets and renewable energy fields. John Rochester heads the corporate team, advising clients on both Guernsey and BVI law. Darren Bacon‘s practice encompasses listed funds in the infrastructure, real estate and debt arenas. Frances Watson focuses on listed funds and private equity, while Helen Wyatt provides regulatory advice and is also well versed in collective investment schemes. The firm strengthened its funds team with the arrival of partner James Cousins, who focuses on alternative investments, from an in-house role in October 2022.

Practice head(s):

John Rochester


Other key lawyers:

Darren Bacon; Frances Watson; Helen Wyatt; Alasdair McKenzie; James Cousins


Testimonials

‘Good sized team with depth of experience.’

‘Practical solutions to legal and regulatory issues.’

‘The Mourant investment funds team is highly capable across the full range of Guernsey investment funds legal services. They have an excellent grasp of current trends and options, able to guide clients to the right solution. They provide top quality work and an engaged, capable team.’

Key clients

Aberdeen Standard Global Infrastructure GP III Ltd


Acis Capital


African Global


Arab Bank


Arion Bank


Arle Capital


Asper Investment Management Limited


AXA IM


APQ Global Limited


Barclays


Baker Street Resources Trust


Bencis Capital


BMO Global


Brockton Capital


Candover


Chenavari


Concord


CP Cognent Asset Management


Dominion Fund


Dr. Peters Group


Fairfax Africa Holdings Corporation


Fidelity Funds


Foord Asset


Fortress


Generation Investment


Genesis Investment


Goldman Sachs


GPH Group


Hamilton Lane


HarbourVest


Harwood Capital


HgCapital


Highland Capital Management


HitecVision


Hoegh Capital Partners


iCON


Infrared Capital


Investec


John Laing Infrastructure


Jordan/Zalaznick Advisors


Kingsbridge Capital


Kuwait Investment Company


Kvika banki


Long Harbour


Mercer Global Investments


Morgan Stanley


NextEnergy Capital Management


NextEnergy Solar Fund Limited


NextPower II LP


Norvestor


Nova Capital


OpCapita


One Peak


Pallinghurst


Pantheon


Pembroke VCT


Premier Milton Group


Preservation Capital


Ravenscroft


RBC Wealth


Rising Star


Ruffer


Savex Capital


Schroders


Schroder Real Estate Investment Trust Limited


Sequoia Economic Infrastructure Income Fund Limited


Sherborne Investors Management LP


Silverfleet


SoftBank Group


SQN Capital


Standard Life


Starwood


Stirling Mortimer


Stonehage


Warburg Pincus LLC


Weiss Asset Management


Sturgeon Capital


14W


Copper Street Capital LLP


Townsend Holdings LLC


Welkin Capital Management (Aria) Limited


Work highlights


  • Advised 14W on various aspects of its relocation from the US to Europe.
  • Instructed as Guernsey counsel to Icon Infrastructure, advising on the raising of its sixth fund at $3.6bn.
  • Assisting HgCapital with the establishment of the 10th iteration of its Genesis fund offering, which focuses on businesses with enterprise values between €750m and €2bn.

Ogier

Advising investment funds domiciled in Guernsey and abroad, Ogier‘s team assists with the establishment, structuring and regulation of investment vehicles, including specialised structures such as PCCs, ICCs and unit trusts. In particular, the firm advises private equity and venture capital sponsors on matters concerning open and closed-ended funds. Fund formation and fundraising experts Bryon Rees and Tim Clipstone continue to lead the team, joined in February 2023 by Richard Sharp, who returned from Bedell Cristin. Managing associates Richard Doyle and Michelle Watson Bunn have experience in collective investment schemes and private equity transactions.

Other key lawyers:

Richard Doyle; Michelle Watson Bunn; Gabrielle Payne; James Dickinson


Testimonials

‘Tim Clipstone has strong technical knowledge and is a good communicator, summarising more difficult matters succinctly. Tim is also commercially minded providing sensible solutions. Richard Doyle is responsive and engaged with good communication skills.’

‘Partner-led team with very deep experience and long-term working together. Strong culture of client service, always delivering work on time and in a commercial manner to achieve results.’

‘Exceptional experience and worth ethic at all levels of the team.’

‘Their advice and assistance has always been timely and commercial.’

‘Bryon Rees and James Dickinson have staffed the matter leanly but remained responsive and available throughout (including a very late closing). They are a pleasure to work with and fitted seamlessly into a large cross-border team of multiple advisers.’

‘Ogier is a go-to firm for offshore legal support. They are experts in their jurisdictions and provide consistent service.’

‘The team provides quality and timely assistance, always happy and ready to advise, very knowledgable on Guernsey corporate law matters. All very friendly, available and a pleasure to work with.’

‘Tim Clipstone is an excellent lawyer with strong technical skills and a pragmatic approach.’

Key clients

ARA Dunedin


Ventures Platform


Tri Alpha


Walkers

Walkers makes use of its international network to advise on cross-border funds transactions, while also assisting with changes to the funds regulatory regime in Guernsey. Matt Sanders and Craig Cordle lead the team in tandem, both advising on the structuring and restructuring of investment funds. Chris Hutley-Hurst, who made partner in July 2022, advises on the foundation of private equity and listed funds, while associate Angela Proctor predominantly assists funds in the real estate and energy sectors.

Practice head(s):

Matt Sanders; Craig Cordle


Other key lawyers:

Chris Hutley-Hurst; Angela Proctor


Testimonials

‘Global brand and great strength in depth combined with an excellent local practice of first rate individuals covering all major areas of law applicable to financial services businesses.’

‘Chris Hutley-Hurst stands out because he has a background of working in the City of London as a tax lawyer and no-one else in Guernsey has that strength. Craig Cordle also has experience working in the City of London with a specialism as a closed-ended listed funds lawyer – again, his experience as lead counsel on LSE-listed funds is second to none in Guernsey.’

‘Matt Sanders is a very experienced offshore lawyer with a very strong intellectual understanding of the investment funds sector.’

‘Full service firm with a complete coverage of the IFCs and equipped with lawyers with a London and multi-jurisdictional experience delivering solutions in a pragmatic way and at reasonable rates.’

‘User-friendly, practical, proactive, supportive, accessible and managing cases with transparent billing and much creativity.’

‘Craig Cordle takes a proactive and commercial approach, anticipating complexities and delivering solutions. His advice is clear, commercial and timely.’

Key clients

Equitix Fund 6


Longship Fund III


Strawberry Star


Sackville JV


Tetragon Financial Group Limited


EEA Life Settlements Fund PCC Limited


CIP Merchant Capital Limited


Global MENA Financial Assets Limited


Canaima


Equitix Fund 7


Blue Night Investment Consult Corporation


Work highlights


  • Advised Wimpole Crescent on the establishment of its first fund in Guernsey and £80m fundraising.
  • Advised asset manager Equitix on the establishment of its seventh fund in Guernsey.
  • Advised EEA Life Settlements on its $100m scheme of arrangement and associated listing of a new fund on the London Stock Exchange.

Bedell Cristin

Bedell Cristin‘s team assists with fund formation and closing, as well as advising on transactions and ongoing management issues, with notable expertise in the real estate funds sector. Team lead Dylan Latimer has experience assisting both private equity and real estate funds, including those listed on the LSE, with the full spectrum of matters arising over a fund’s lifecycle. John Scanlan joined the team from Carey Olsen in January 2023, bringing a wealth of expertise in hedge, infrastructure and venture capital funds to the team.

Practice head(s):

Dylan Latimer


Other key lawyers:

John Scanlan


Key clients

Catalyst Investment Management (Guernsey) Limited


Schroder Real Estate Investment Trust Limited


Work highlights


  • Advising Schroder Real Estate Investment Trust, an authorised closed-ended fund listed on the London Stock Exchange, on an ongoing basis.

Collas Crill

Collas Crill supports fund managers in a number of niche areas - including medicinal cannabis and cryptocurrency assets - and is growing its ties to the South African funds market, while also continuing to advise on fund formations and regulatory matters, including GFSC investigations. Wayne Atkinson heads the team, advising fund managers on capital raising, fund formation and ongoing management, with particular expertise in sustainable funds. Gareth Morgan has in-depth knowledge of the South African funds market, assisting clients with regulatory applications and the setting up of cross-border structures. Consultant Paul Wilkes counts hedge, private equity, venture capital and real estate fund managers among his clients.

Practice head(s):

Wayne Atkinson


Other key lawyers:

Gareth Morgan; Paul Wilkes


Testimonials

‘The team at Collas Crill has a diversity of background, knowledge and experience that sets it apart from other, bigger firms. The people come from various jurisdictions, giving a breadth of experience unusual for a smaller team. When billing they do not simply use the quote as a “starting point” and work upwards but rather bill for work done allowing for cost savings where information is provided in such a way that less work/versions are required.’

‘The team has good contacts with firms in other jurisdictions allowing for multi-jurisdictional work to be undertaken in a collaborative manner.’

‘Wayne Atkinson’s laid back manner with clients belies his tenacity in ensuring that work is completed on time, on budget and to a high quality.

‘Gareth Morgan’s innovative attitude works well with complex or unusual fund structures. Gareth is a “go-to” person who has worked on a number of firsts for the jurisdiction.’

‘An engaging and helpful team that is solution driven and client focused.’

‘Wayne Atkinson has an approachable manner which resonates with clients and is underpinned with a comprehensive understanding of the mechanics of regulation and fund structuring.’

Key clients

Dowgate Wealth Limited


Vega Investment Technologies Limited


The Applehill Group


Blacknode Limited


SA Alpha PCC Limited


Jacobi Investment Funds PCC Limited


Oleada Capital Guernsey Limited


Freedom Asset Management Limited


RAW Capital Partners


Marlborough International Management Limited


Darwin Property Investment Management Limited


Riverside Capital Limited


The Channel Islands Property Fund Limited


Ravenscroft Investment Management Limited


White Star Capital Group (Venture Capital Group)


Cazenove Capital Management Limited


Rangemore Advisory Limited


Seek Ventures GP Limited


Sanlam Investments UK Limited


Sygnia Group


MJ Hudson


Resolute Capital Partners Ltd


IP Global Limited


Work highlights


  • Advised on the establishment and authorisation of Vega Alternative Investments PCC, a multicell, multistrategy fund with a focus on alternatives.
  • Assisted with the launch of Dowgate Wealth, a Guernsey closed-ended fund which is to be listed on the Alternative Investment Market of the London Stock Exchange.
  • Instructed by Singapore-based IP Global to assist with the establishment of a new real estate investment fund to invest in real estate assets and projects, predominantly in the UK.

Ferbrache & Farrell LLP

Ferbrache & Farrell LLP supports investment managers across the lifecycle of their funds, advising on the establishment, structuring and closing of Guernsey-based investment vehicles. ‘Outstanding lawyer’ Gavin Farrell leads the team, advising on funds matters and issues concerning the asset management industry. Counsel Helen McGeoch offers wide-ranging transactional and regulatory expertise, while senior associate Stuart Nash, who joined the firm in January 2022 from AFR Advocates, focuses predominantly on real estate transactions. Associate Joshua Black is also recommended.

Practice head(s):

Gavin Farrell


Other key lawyers:

Helen McGeoch; Stuart Nash; Joshua Black


Testimonials

‘Gavin Farrell has a vast amount of experience in the Guernsey funds industry. His knowledge of local regulations and best practice ensures that when advice is given all key considerations are clearly highlighted and explained and that advice is able to be provided within a short time frame.’

‘I think what makes this team unique is that they are very good at communication, which makes the whole process run smoothly. I also think that the team has a good knowledge level and respond in a timely manner. I would recommend this firm to another company/colleague.’

‘The core team of Ferbrache & Farrell in Guernsey is comprised of some of the most respected fund formation lawyers on the island. They have been involved in numerous fund formation and administration exercises. The team is very responsive and has outstanding knowledge of legal questions concerning private equity and venture capital funds.’

‘Gavin Farrell is an outstanding lawyer in the field of investment fund formation. He is very responsive, always available and creative in his thinking to seek solutions for his clients. Gavin is also very entrepreneurial and willing to work with first-time funds and build long-term client relationships.’

‘Firstly, Ferbrache & Farrell has a deep understanding of the legal and regulatory requirements that apply to private equity funds. F&F is well versed in the various structures that are commonly used for private equity funds, and they have experience in preparing the necessary documentation for fund formation. In addition, F&F can provide ongoing legal advice to the fund and its investors throughout the life of the fund. They can help ensure compliance with regulatory requirements and address any legal issues that may arise.’

‘Gavin Farrell has a strong understanding of the investment strategies used by funds. This allows him to provide valuable guidance to fund managers and investors on issues related to investment strategy, risk management, and governance.’

‘Gavin Farrell is very knowledgeable and provides clear and to the point advice.’

‘Gavin Farrell demonstrates an in-depth knowledge of the industry and the law. Helpful, responsive and professional.’

Key clients

Lakestar


HitecVision


Norvestor


Prime Investments


White Star Capital


OMP


Work highlights


  • Advising Lakestar on an ongoing basis, including assisting with the establishment of funds and ongoing support of existing funds, in particular Lakestar Growth II and Lakestar Early IV funds.
  • Advised Prime Investments ICC, a Guernsey-protected cell company, on the establishment of an open-ended Class B ICC structure, the launch of new cell sub-funds, and the transfer of 3 Class B incorporated cells from an existing third-party ICC platform.
  • Assisting HitecVision with its Guernsey funds work.