Ogier Guernsey team advises on fund launch

Posted: 01/04/2019

CraigCordle_OgierApr19Ogier's Guernsey team has advised investment management firm Baillie Gifford on the $477 million launch of the Schiehallion Fund, which is admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange.

An Ogier team led by Partner Craig Cordle (pictured) advised on the launch, which is Baillie Gifford's first Guernsey fund.

The team, which also included Associate Gabrielle Saul, advised alongside accountancy firm KPMG, administrator Alter Domus and onshore lead counsel Herbert Smith Freehills.

Schiehallion's objective is to generate capital growth by making long-term minority investments in later-stage private businesses that it considers have the potential for transformational growth and to become publicly traded.

Cordle commented: "We continue to see interest in the use of Guernsey vehicles for listing on the London markets, as the jurisdiction's quality of professional services and regulation offshore – as endorsed by the EU Council's whitelisting decision last month – hits all the right notes for international regulators and the wider financial services industry."

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