Carey Olsen's investment funds team in Guernsey, together with the Guernsey funds team of investor services group IQ-EQ, have advised Queen's Park Equity (QPE) on the launch of its debut fund, Queen's Park Equity Partners I.
The fund, raised entirely during the coronavirus pandemic, closed at its hard cap of £185m.
Exceeding its initial fundraising target of £150m, strong investor support for the fund came from international institutions including endowments, foundations, family offices, pension funds and fund of funds, as well as from the QPE founders' network of sector-specific ambassadors.
Established in 2020, QPE provides capital and expertise to businesses within education, healthcare and pharmaceuticals, and tech services.
Working alongside onshore counsel Sidley Austin, the Carey Olsen team advising QPE was led by Partner David Crosland and included Senior Associate Alex Mauger and Associate Claire Cooke.
The firm advised on all Guernsey aspects of the fund's establishment, launch and closing, alongside IQ-EQ, which is providing administration services to the fund, including ongoing compliance, corporate governance and accounting.