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Landmark Jersey fund restructure

Landmark Jersey fund restructure

Wednesday 12 March 2014

Landmark Jersey fund restructure

Wednesday 12 March 2014

Carey Olsen has advised Gravis Capital Partners on a complex restructuring of two existing Jersey funds.

The funds, GCP Infrastructure Fund Limited and GCP Infrastructure Investments Limited were restructured by a Court-sanctioned scheme of arrangement, and the introduction of a new feeder fund, GCP Infrastructure OEIC Limited.

The use of a scheme of arrangement as a technique to restructure a mix of Jersey regulated and unregulated funds had never been implemented before and required a highly complex process involving the Jersey Courts, the Jersey Financial Services Commission, the Channel Islands Securities Exchange and the UK Listing Authority.

Carey Olsen funds partner Robert Milner, who regularly advises Gravis Capital Partners, led the transaction particularly in respect of regulatory matters, alongside corporate partner Guy Coltman and dispute resolution partner Andreas Kistler who advised on the scheme of arrangement.

Corporate senior associate David Allen and funds associate Owen McLennan assisted in the transaction.

Mr Milner said: “Carey Olsen prides itself on its track record for executing challenging and innovative transactions and this ground-breaking scheme will pave the way for future success for the funds.”

Stephen Ellis of Gravis Capital Partners said they are delighted that this innovative restructuring went so smoothly and credit the teams at Carey Olsen with ensuring that the complex moving parts in Jersey came together so well.

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