Park Square Program raises $2.4bn using Guernsey structure

Posted: 07/07/2015

Carey Olsen's investment funds team has advised on the launch of Park Square Capital’s Credit Opportunities II Program, which raised a total of $2.4bn of committed capital.

Acting alongside onshore firm Debevoise & Plimpton, Carey Olsen Partner Andrew Boyce and Senior Associate Alex Mauger advised on all Guernsey aspects of the Program raising, including structuring, fund formation, regulation, marketing and launch.

The Program includes two closed-ended Guernsey limited partnerships, a main fund and a feeder fund, and is regulated as a registered collective investment scheme.

The Program includes committed capital which has been raised from a range of institutional investors from around the world, in particular European and US pension funds, and leverage which has been provided by leading global financial institutions. It will invest in the senior debt of leveraged US and European companies and will work alongside private equity partners. The Program will routinely be able to commit more than €100 million to transactions.

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