Guernsey Welcomes Funds Business From Luxembourg
by Jason Gorringe, Lowtax.net, London
25 June, 2015
Guernsey was chosen to host Apax Global Alpha Limited, a new fund which has been listed on the London Stock Exchange's Main Market.
The fund is being offered by Apax Partners, one of Europe's largest private equity firms, and secured EUR300m (USD336m) in capital for new investments and acquired existing investments worth EUR600m. The vehicle is a registered, closed-ended collective investment scheme, which began trading last week.
The Guernsey office of offshore law firm Carey Olsen advised AGA on the listing. Partner Christopher Anderson, who led the Carey Olsen team, said: "Many private houses aspire to establishing a listed permanent capital vehicle such as AGA. Its launch is a testament to Apax's excellent track record." He added: "The fact that Guernsey has been chosen as the domicile for such a prestigious fund, and that management of over EUR600m in assets will move from Luxembourg to Guernsey as a result of the listing, speaks volumes for the island."
Matt Horton, Director of the Aztec Group, which is providing administration and depository services, said: "The success of this listing clearly demonstrates the appetite from investors to obtain exposure to funds advised by Apax and their continued confidence in Guernsey as a funds jurisdiction."
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