Guernsey professionals have advised Geneva-based healthcare and sustainability investment firm Gyrus Capital on the final close of its €600 million continuation fund.
The fund, led by AlpInvest, is domiciled in Guernsey and will support the continued growth of Essential Pharma, an international pharma group that was acquired by Gyrus in 2019.
The continuation vehicle was supported by StepStone Group including other new and existing investors, as well as reinvestment from both Gyrus and management.
Carey Olsen’s Guernsey corporate team advised on the transaction and Alter Domus Guernsey provided fund administration solutions from their local office.
Carey Olsen Partner David Crosland commented: " The success of this transaction highlights how Guernsey continues to provide an ideal domicile for continuation funds in addition to Carey Olsen's expertise as the leading legal adviser to the Guernsey investment funds sector.
“We are pleased to have worked alongside Alter Domus in advising long-standing client Gyrus on this significant transaction for both Gyrus and Essential Pharma, which will contribute to Essential Pharma's next phase of growth as it delivers essential medicines for patients internationally and advances its expansion into rare diseases.”
Tom Amy, Country Executive of Alter Domus Guernsey, commented: “This transaction presented us with various challenges including the fund flow mechanics and volume of investors, which we navigated in close coordination with Gyrus, Carey Olsen and Weil as onshore counsel.
“I am immensely proud of dedication from so many colleagues and their expertise spanning fund administration, accounting, compliance and governance operations.”