RBS International has devised a tailored funding package to assist a client to launch a new Guernsey domiciled and administered fund.
The substantial facility has allowed EQT Fund Management Limited to launch its new fund, EQT VI.
EQT is a group of private equity funds with investments in Northern and Eastern Europe, Asia and the US.
EQT VI is Guernsey authorised, closed-ended fund launched in 2011 and raising €4.75 billion. The fund will primarily target the Nordic region, German-speaking Europe and Central and Eastern European countries, with equity commitments are anticipated to typically range between €75 million and €400 million. The fund's portfolio already includes Sweden's Atos Medical, which was acquired in September this year.
RBS International's credit facility will enhance the fund's performance by allowing EQT managers to invest before collecting the committed funds from investors providing the administrator with far greater flexibility during the launch period.
Michael Newton, Director of EQT Fund Management Limited, said: "RBS International has continued to offer proactive support to EQT and this facility enables us to operate in the most efficient and flexible manner for our investors, adding significant value to the new fund."
Rob Girard, Island Director, RBS International, added: "We continue to be a prime provider of funding to the private equity market in Guernsey and, in the appropriate circumstances such as in this case with EQT, we will formulate a bespoke lending package to long standing clients who approach us with a compelling business proposition."
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.