Carey Olsen's Jersey funds team has advised Patron Capital on the launch of its latest European real estate fund, Patron Capital, VI LP (Fund VI), which recently held its final closing with a total fund size of €844 million, including approximately €128 million of co-investment capital.
This is the second Patron Capital fund domiciled in Jersey under the Island's well-established Expert Fund regime. Fund VI's opportunistic strategy focuses primarily on distressed and/or undervalued property and property related investments, mostly in Western Europe, and has a welcome ESG focus.
Carey Olsen partner Chris Griffin led the team, assisted by senior associate Sarah Townsend.
Patron Capital's general counsel Kendall Langford said: "Patron Capital values long-term relationships and the continuity afforded by working with Carey Olsen on consecutive funds, coupled with the stability of the Jersey Expert Fund regime, was a real benefit."
Chris Griffin said: "Fund VI is clear evidence that managers can continue to launch well-regulated funds from Jersey in a pragmatic and cost-effective way, even in these challenging times."