SoftBank Group Corporation has selected Jersey for the structuring of its Vision Fund, working alongside law firm Carey Olsen and fund and corporate services provider the Aztec Group.
The SoftBank Vision Fund has raised over $93bn in committed capital, making it the world's largest investment fund – raised from sovereign wealth funds and technology companies including Abu Dhabi's Mubadala Investment, Saudi Arabia's Public Investment Fund, Apple, Foxconn Technology and Sharp.
The fund has drawn widespread public interest since it was announced in October 2016, as a result of the fundraising target, high-profile investors and potentially transformative effect it will have on the development of future-focused global technology.
Carey Olsen Jersey Funds Partners Robert Milner and Daniel O'Connor led a team of seven lawyers advising on the Jersey legal and regulatory aspects of the fund's establishment and regulatory authorisation, working with the Aztec Group and a team of advisers across the globe.
Private equity specialist Simon King led the Aztec team, who managed the establishment of the fund’s operational, governance and accounting framework. Aztec will provide ongoing administration services to support the fund’s activities and investors.
Robert Milner, Partner at Carey Olsen and Director of the Vision Fund, said: “Jersey's flexibility in establishing EU and non-EU funds, together with its stability and international reputation were key factors in the analysis that brought this hugely significant fund to the island.”
Pictured: (l-r) Robert Milner, Partner Carey Olsen; Simon King, Director, Aztec Group; Jonathan Bullock, COO, SoftBank Group International; and Daniel O'Connor, Partner, Carey Olsen