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Guernsey lawyers advise on acquisition of Man Group’s stake in BlueCrest

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Guernsey lawyers from Mourant Ozannes have assisted in advising BlueCrest on the acquisition by its partners of Man Group’s 25.5% stake in the BlueCrest Group for USD633 million.

The transaction was funded by a senior debt facility arranged by HSBC and RBS, the issue of loan notes and through existing cash resources.

BlueCrest was founded in 2000 and is Europe’s third largest hedge fund manager, with more than USD25 billion of assets under management.

BlueCrest moved its group head office to St Peter Port, Guernsey in April 2010 and is a long-standing client of Mourant Ozannes. The Mourant Ozannes team of lawyers and paralegals advising BlueCrest was led by corporate partner Gavin Farrell and corporate associates Richard Holden and Val Rouse.

Farrell says: “Mourant Ozannes is delighted to advise BlueCrest again on such a high profile and complicated transaction which is testimony to the strength of the firm. Mourant Ozannes’ capability as a full service law firm was able to cover all Guernsey corporate, financial services, banking and regulatory issues and closing matters in assisting on the acquisition by BlueCrest and new financing arrangements."

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