Carey Olsen and Ipes in Guernsey have assisted Phoenix Equity Partners with the launch of its fourth fund, which has closed with commitments of £415 million.
Phoenix Equity Partners (PEP), a private equity investor, works with entrepreneurial teams to help grow medium-sized UK-based companies valued at up to £150 million. This fourth fund, Phoenix Equity Partners 2016 fund, will continue this.
The fund, which closed in July, attracted investment from existing and new investors, including public and corporate pension funds, sovereign wealth funds, insurance companies, family offices, fund of funds and asset managers across North America, Europe and the Middle East.
The Carey Olsen team advising on the launch of the fund was led by Partner David Crosland, with assistance from James Cooke and Colin Calvert. Ipes in Guernsey was appointed as the fund administrator.