Guernsey lawyers from Mourant Ozannes have assisted in advising BlueCrest on the acquisition by its partners of Man Group's 25.5% stake in the BlueCrest Group for US$633 million.
The transaction was funded by a senior debt facility arranged by HSBC and RBS, the issue of loan notes and through existing cash resources.
BlueCrest was founded in 2000 and is Europe's third largest hedge fund manager, with more than US$25 billion of assets under management.
BlueCrest moved its group head office to St Peter Port, Guernsey in April 2010 and is a long-standing client of Mourant Ozannes. The Mourant Ozannes team of lawyers and paralegals advising BlueCrest was led by corporate partner Gavin Farrell and corporate associates Richard Holden and Val Rouse.
Commenting on the deal, Gavin Farrell said: "Mourant Ozannes is delighted to advise BlueCrest again on such a high profile and complicated transaction which is testimony to the strength of the firm. Mourant Ozannes' capability as a full service law firm was able to cover all Guernsey corporate, financial services, banking and regulatory issues and closing matters in assisting on the acquisition by BlueCrest and new financing arrangements."
The Mourant Ozannes team assisted Simmons & Simmons, main legal advisers for BlueCrest. Freshfields Bruckhaus Deringer advised the banks and Clifford Chance advised Man Group.
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.
