Guernsey: Investec In Guernsey Launches Two New Funds
Last Updated: 21 October 2008

Investec Administration Services Limited (IASL) has launched two new funds.

The first fund is a capital protection product for Investec Capital Markets in South Africa, which raised AUD30.5m.

This is the eighth fund IASL has launched for Capital Markets in the past five years, with a further one already in the pipeline for early next year.

 The second fund is a central and Eastern European property fund for Mosaic Property LLP, a specialist property advisor. The initial raising received commitments of Eur24m and it is anticipated that the second raising will take the total capital raised to Eur200m.

This is Mosaic’s second fund launched with Investec. The first fund raised Eur100m, and with a little over half invested and including gearing, the current gross valuation is in excess of Eur260m. 

"Funds growth in Guernsey is a real success story," said IASL’s Bob Banfield:

"IASL’s focus on providing a specialist bespoke fund administration business for property and private equity funds is growing in reputation and our professional and innovative approach to the industry ensures confidence with our clients," he said.

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