Inflexion Establishes First Non-UK Fund In Guernsey
Monday, January 03, 2011

Guernsey has been chosen as home for Inflexion Private Equity LLP’s GBP375m 2010 Buyout Fund.

The Aztec Group has been named as the fund administrator while Carey Olsen provided legal advice on the fund which, from start to finish, completed the official fundraising time in an impressive four months. The fund was hugely over-subscribed and had its one and only close at the end of September.

Inflexion, a mid-market private equity advisor, won Buyout House of the Year earlier in the year at the British Venture Capital Association Private Equity Awards for its outstanding performance in what has been an extremely challenging period for the Private Equity industry.

Alistair Hamilton, Chief Financial Office at Inflexion, said it was the first fund they had established outside the UK.

“The Aztec Group and Carey Olsen consistently impressed us throughout the pitch process and most importantly during fundraising itself,” he said.

“Their initial help, guidance and introductions proved invaluable to the success of the fundraising. In the Aztec Group and Carey Olsen we are delighted to have found partners that share our passion for quality. We are very much looking forward to working with them in the years to come to help provide the best quality service possible for our investors,” he added.

Rob Jones, Aztec Group’s Guernsey Director, said: ”We’re very excited Inflexion chose to come offshore and select the Aztec Group as their fund administrator of choice amongst a very competitive field.”

Andrew Boyce, Corporate Partner at Carey Olsen, added: “This fund is significant not only because it is indicative of a new optimism from promoters in the market who are keen to raise capital but also in the face of threats, such as the Alternative Investment Fund Manager directive, fund managers and investors alike still view Guernsey as the jurisdiction of choice.”

The fund has been established as a Guernsey closed-end registered collective investment scheme in the form of a dual limited partnership structure.