Leading offshore law firm Mourant Ozannes has advised HitecVision, one of the most prominent private equity investors for the oil and gas industry, on the launch of its latest fund based in Guernsey. HitecVision acts as the investment adviser to a number of Guernsey structures.
Working alongside Norwegian law firm BA-HR DA, the Mourant Ozannes Guernsey corporate team assisted with the registration of HitecVision VII L.P. as a registered closed-ended collective investment scheme. The fund is administered by Gentoo Fund Services Limited.
HitecVision is a leading European private equity adviser and investor focussed on the oil and gas industry and has received commitments of USD 1.9 billion for HitecVision VII L.P., exceeding the USD 1.5 billion target. With strong support from existing investors and three new investors the hard cap was reached in two months following the launch in February 2014.
The Mourant Ozannes team was led by partner Gavin Farrell. He said: “The success of the Fund is a tribute to HitecVision’s expertise and track record in the oil and gas sector. It has been a pleasure to work with the team on this project.”
The fund will continue to build on HitecVision’s successful serial entrepreneurial model in the oil and gas industry, implemented throughout the firm’s history, combining extensive operational experience from the petroleum sector with strong transactional and financial competence. With the new fund HitecVision now manages USD 5 billion of institutional capital.
Category: Finance & Business