Carey Olsen's investment funds team has advised on the
launch of Park Square Capital's Credit Opportunities II Program
which raised a total of $2.4 billion of committed capital making it
one of the leading players in the European leveraged loan
Acting alongside onshore firm Debevoise & Plimpton, Carey
Olsen partner Andrew Boyce and senior associate Alex Mauger advised
on all Guernsey aspects of the program raising including
structuring, fund formation, regulation, marketing and launch.
The program includes two closed ended Guernsey limited
partnerships, a main fund and a feeder fund, and is regulated as a
registered collective investment scheme.
The program includes committed capital which has been raised
from a range of institutional investors from around the world, in
particular European and US pension funds, and leverage which has
been provided by leading global financial institutions. The program
will have a similar strategy to that of its predecessor fund which
is also a Guernsey structure, raised by Park Square in 2007. It
will invest in the senior debt of leveraged US and European
companies and will work alongside private equity partners. The
program will routinely be able to commit more than €100
million to transactions.
Advocate Boyce said: "Carey Olsen has built a reputation as
the market leader for its closed ended funds expertise and the
continued use of Guernsey by successful managers such as Park
Square Capital Partners reaffirms the island's position as the
premier investment fund domicile."
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