Guernsey: Guernsey Investment Fund In US$1.2 Billion Portfolio Acquisition
Last Updated: 21 March 2013

HarbourVest Structured Solutions II L.P, a Guernsey authorised closed-ended investment fund, has acquired the investment portfolio of Conversus Capital, L.P.

Ogier in Guernsey, in conjunction with Debevoise & Plimpton LLP in London and New York, advised HarbourVest Partners, LLC (HarbourVest) in connection with the acquisition by HarbourVest Structured Solutions II L.P., a newly formed Guernsey limited partnership managed by HarbourVest, from Conversus Capital, L.P. (a Guernsey investment fund listed on NYSE Euronext in Amsterdam) of Conversus' portfolio of private equity fund interests and direct co-investments. HarbourVest Structured Solutions II L.P. acquired the portfolio for approximately US$1.2 billion, after adjustments for certain capital calls and distributions.

HarbourVest is an independent global private equity firm that invests in venture capital, buyout, mezzanine debt and distressed debt through primary partnerships, secondary purchases and direct investments.

The Ogier team was led by Guernsey partner Caroline Chan, with managing associates Andrew Munro and Andy Lowe.

Ms Chan commented: "We have been delighted to work with HarbourVest and their lead advisers Debevoise & Plimpton on HarbourVest's latest project in Guernsey. This has been an interesting transaction involving Ogier lawyers providing fund, regulatory, M&A and financing advice."

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