Guernsey has been chosen as the domicile for HitecVision's
latest fund launch.
HitecVision, one of the most prominent European private equity
advisers and investors focussed on the oil and gas industry,
received commitments of US$ 1.9 billion for HitecVision VII L.P.,
exceeding the US$ 1.5 billion target. With strong support from
existing investors and three new investors the hard cap was reached
in two months following the launch in February 2014. The fund will
continue the successful strategy for control buyout and growth
capital investments in the oil and gas industry that
HitecVision's team has implemented throughout the firm's
Gentoo Fund Services Limited, an independent private equity fund
administrator has been appointed by HitecVision to administer the
fund. Gentoo, which specialises in the administration of private
equity structures, predominantly administering closed-ended funds,
has a long-standing relationship with HitecVision, which since 2006
has launched five Guernsey based funds. HitecVision continues to
view Guernsey as the destination of choice for the domiciling of
new private equity funds.
Nick Degnen, Managing Director of Gentoo Fund Services Limited,
said: "Gentoo is delighted to have been part of such a smooth
and successful fund launch. We place a great deal of importance on
client service and client relationships and are pleased to continue
our long-standing relationship with Norway's premier private
Mourant Ozannes were HitecVision's Guernsey legal counsel
for the fund's launch. Working alongside Norwegian law firm
BA-HR DA, the Mourant Ozannes Guernsey corporate team assisted with
the registration of HitecVision VII L.P. as a registered
closed-ended collective investment scheme.
The Mourant Ozannes team was led by Partner Gavin Farrell, who
commented: "The success of the fund is a tribute to
HitecVision's expertise and track record in the oil and gas
sector. It has been a pleasure to work with the team on this
With the new fund HitecVision now manages US$ 5 billion of
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