Carey Olsen has advised Insight Investment Management on the establishment of a Guernsey registered fund constituted as a limited partnership, which will invest in distressed consumer debt and is listed on the Irish Stock Exchange.
The Insight Consumer Debt Recovery Fund II is aiming to raise EUR400m in total commitments.
Carey Olsen partner Graham Hall (pictured) and associate Alex Mauger acted for Insight on the establishment of the fund entities and advised on a range of aspects in respect of regulation and the fund’s operational documentation.
Hall says: “The establishment of distressed debt funds is growing as a consequence of the uncertain financial climate. These funds have shown a pattern of providing good returns for investors.
“We have established a number of distressed debt funds in Guernsey in recent years and I think this demonstrates that Guernsey is well positioned as a centre for structuring this type of fund. It has been a pleasure to work with Insight once again.”
Carey Olsen advised Insight on the establishment of Insight Consumer Debt Recovery Fund I in Guernsey in 2010.