Axiom Alternative Investment's new Guernsey vehicle has launched on the London Stock Exchange's Specialist Fund Market (SFM), after the fund raised approximately £50.7 million and included a placing programme to issue up to 500 million shares.
Axiom European Financial Debt Fund Limited, a Guernsey closed-ended investment company, will invest in a diversified portfolio of regulatory capital financial investments issued by European financial institutions. The company will seek to identify investment opportunities presented by the Basel III andSolvency II transitions in Europe.
Carey Olsen's Guernsey corporate team advised Axiom on the Guernsey aspects of the successful initial public offering (IPO) alongside Berwin Leighton Paisner.
Carey Olsen Partner Ben Morgan, who was assisted by Senior Associate Annette Alexander and Associate Alexandria du Jardin, said: "Guernsey is the jurisdiction of choice for London Stock Exchange fund IPOs. Carey Olsen's proven expertise and experience advising IPOs proved invaluable to Axiom. The universe of investable liquid regulatory capital financial instruments is extremely large, which makes the future growth of this fund extremely exciting."
Liberum Capital Limited is the fund's sole financial adviser and bookrunner and Elysium Fund Management has been appointed to be the fund's administrator. The investment manager of the fund is Axiom Alternative Investments.
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.