Carey Olsen's Guernsey office has advised Tufton Oceanic Assets, a Guernsey-registered fund, on the completion of its initial public offering on the London Stock Exchange.
Trading on the specialist fund segment of the LSE's Main Market, the fund's initial placing raised $91 million and will be used to invest in a diversified portfolio of commercial sea-going vessels.
Tufton Oceanic, its investment manager, has been a specialist fund manager in the maritime and energy markets since 2000 and has been focused on financial services to these industries since its inception in 1985.
Carey Olsen's team included Partner Ben Morgan and Senior Associate John Scanlan, who advised Tufton Oceanic on the Guernsey legal aspects of the IPO.