Guernsey firms Carey Olsen and Northern Trust have assisted
Coller Capital, the leading global investor in private equity
secondaries, on one of Guernsey's largest fund launches of 2015
with the $7.15 billion final close of Coller International Partners
VII ("CIP VII").
Like its six predecessor funds, CIP VII will take a flexible
approach. Advised by a multinational team based in London, New York
and Hong Kong, the fund will target a wide array of secondary
transactions, targeting assets and sellers located anywhere in the
world, and making individual investments ranging in size from $1
million to $1 billion plus. CIP VII, which had a Limited Partner
re-up rate of 82%, has approximately 170 Limited Partners from 27
different countries. Pension plans account for some 62% of the
fund's committed capital; sovereign wealth funds/government
entities for 15%; andinsurance companies for 11%; with the
remaining commitments coming from endowments and foundations,
family offices and other types of asset manager.
The Carey Olsen team was led by Partner David Crosland and
included Gemma Campbell, Chris Hutley-Hurst, Alexandria du Jardin
and Asim Arshad.
David Crosland said: "Coller have a longstanding
relationship with Guernsey but have historically chosen to domicile
their fund vehicles elsewhere. It is testament to Guernsey's
growing international profile and attractiveness to a global
investor base that they chose Guernsey for their latest and largest
fund. We were delighted to help them with their
Northern Trust, which has a longstanding relationship with
Coller, has been appointed to provide fund administration,
banking and depositary services for the new fund.
"Northern Trust has provided services to Coller for more
than 20 years and we are delighted to continue to evolve with
them, offering innovative solutions that meet their changing
requirements," said Belinda Burgess, head of Northern Trust in
the Channel Islands. "Northern Trust offers a full range
of specialist private equity solutions supported by our robust
technology and global presence. "
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The States of Guernsey, Carey Olsen, Northern Trust and Sure will be hosting Guernsey's first Blockchain Technology Conference to explore how Blockchain technology could change the world as well as what this means for the future of local businesses in Guernsey.
Expert FinTech speakers from different business sectors will be presenting the opportunities and risks for local businesses as well as exploring where the technology is already having an impact in global financial services.
Carey Olsen counsel, Richard Field, will be taking part in the panel session to discuss the opportunities of Blockchain for Guernsey.
In its 18th year this leading conference brings together top legal, business and fund professionals from around the globe to analyse the current market and future of private investment funds, and the prospects of changes and updates to regulatory and tax regimes, among other timely topics.
The Guernsey branch of Soroptimist International have announced that Edwina Currie, former politician, will be the after dinner speaker at their annual dinner, which is sponsored by Carey Olsen.
Edwina Currie was Conservative MP for South Derbyshire and Health Minister in the Margaret Thatcher government. She has since become a respected author, speaker and broadcaster and a contestant in celebrity realty TV shows including Strictly Come Dancing, I'm a Celebrity Get me Out of Here and Celebrity
Soroptimist President, Karen Jagger, said "It is great news that Edwina Currie will be joining us. She is an excellent speaker and we are promised an entertaining and informative evening with her participation. Although our organisation is primarily focussed on female initiatives, this event is open to both men and women and we are hoping the Guernsey community will come out in force to support it."
She added "We are delighted that the Lieutenant Governor and our Patron, Lady Corder, as well as the Chief Minister, Gavin St Pier and Mrs Jane St Pier who is Chair of the Youth Commission have confirmed they will be attending."
The black tie event takes place on 8th March 2017 at St Pierre Park Hotel. Individual tickets and tables of 10 are available to book on www.sigbi.org/guernsey - or by contacting Shirley Marsh on 01481 72144.
This article will explore existing real estate property management solutions, focusing on the top private equity real estate platforms in the marketplace, including subject matter expert's viewpoints on the existing software infrastructure.
Over 150 attendees from both New York and the Cayman Islands recently gathered at the 4th annual Cayman Finance New York Breakfast Briefing held at the Harvard Club of New York City at which Cayman Finance CEO Mr Jude Scott described Cayman as "the premier global financial hub".
A professional director for a hedge fund might take an instinctive view that board observer rights are not desirable given the traditional view of separation of capital ownership and those responsible for fund governance.
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