Mourant Ozannes and Ernst & Young advise on successful IPO of debt fund

| January 3, 2013 | 0 Comments
Mike Bane, Ernst & Young

Starwood European Real Estate Finance Limited has raised £228.5m in its latest share offer, exceeding its initial fundraising target of £200m. The offer for the fund, a new fund registered in Guernsey, included a placing and open offer, and the admission of new shares to the London Stock Exchange main market for listed securities.

Guernsey advisers were Mourant Ozannes and Ernst & Young and IPES act as fund administrator. Mourant Ozannes worked with London law firm Norton Rose in advising the company on the legal and regulatory aspects of the transaction. Ernst & Young were the reporting accountants and also advised on tax matters.

Mourant Ozannes partner Gavin Farrell said: “It is continually pleasing to see that Guernsey maintains its position of first choice jurisdiction for successful funds and promoters such as Starwood and to have had such a capital raising towards the end of last year is a testament to the manager, the board of this fund and all of its advisers.”

Mike Bane, partner at Ernst & Young said: “This transaction emphasises the confidence that investors and promoters continue to have in Guernsey investment structures. In the current economic climate all fund raising is extremely challenging so it is particularly pleasing to see a promoter using Guernsey for the first time as their jurisdiction of choice”.

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Category: Finance & Business

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