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Guernsey Fund Lists On LSE

Tuesday, April 24, 2012

A Guernsey closed-ended investment company has been used by Blue Crest Capital Management in its Initial Public Offering (IPO) of a fund on the London Stock Exchange Main Market, advised upon by Channel Islands law firm Carey Olsen.

The IPO saw subscriptions worth GBP165m (USD266m) into the BlueCrest BlueTrend Limited fund, which uses a systematic approach to seek to achieve its investment objective of long-term capital appreciation. BlueCrest is a Guernsey-based alternative asset manager and invests across numerous asset classes globally.

Carey Olsen’s team, including corporate partner Tom Carey and associates Oliver Quarmby and Alex Mauger, advised on the Guernsey aspects of the IPO and worked alongside UK legal advisors, Herbert Smith.

Carey Olson said: “Guernsey continues to lead the way for non-UK LSE listings and BlueCrest’s latest IPO is a continuing endorsement of the excellent services that the island offers organizations of this pedigree.”