Carey Olsen advises on launch of GLI Alternative Finance

Posted: 01/10/2015

Carey Olsen's investment funds practice in Guernsey has advised in respect of the launch of GLI Alternative Finance (GLAF), which closed on 23 September following a successful fund-raising of £52.66 million.

GLAF is a closed-ended fund trading on the London Stock Exchange’s Specialist Fund Market with a loan portfolio diversified by geography, size of loan, type of lending and duration. The fund's largest exposures coming from four different segments of the alternative finance space: peer-to-peer business lending, trade finance, commercial property finance and balance sheet lending.

Managed by GLI Asset Management, an asset management subsidiary of GLI Finance, the fund aims to provide investors with access to the alternative finance market with a target of a 'high single digit' yield.

Carey Olsen Partner Ben Morgan and Senior Associate John Scanlan worked on the Guernsey aspects of the launch.

GLI Finance is a specialist provider of finance to small and medium sized enterprises and is quoted on the AIM market of the London Stock Exchange. GLI Finance invests in loans to SMEs and originates finance for SMEs through a variety of finance platforms.

Institutional Broker and corporate adviser, N+1 Singer, acted as financial adviser, broker and placing agent to the company.

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