Bedell Cristin Guernsey is acting as a lead adviser to EV Private Equity, an independent growth equity firm focusing on new technologies in the oil and gas sector, on the launch of its latest Guernsey fund, EV Private Equity V Plus LP, a Guernsey private investment fund.
Bedell Cristin worked closely with the fund’s Norwegian counsel, Alex Lund of Advokatfirmaet CLP DA and Aztec Financial Services (Guernsey) Limited, the fund’s administrator. The private investment fund was structured as a closed-ended limited partnership to make investments in oil and gas services companies which deploy technologies to enable oil and gas exploration and production companies, to increase productivity, lower cost and lower risk.
Bedell Cristin’s team was led by Guernsey managing partner, Kate Ovenden and Managing Associate, Lee Osborne.
Commenting on the fund’s launch, Ovenden said: “Since the introduction of this new type of fund in late 2016, it has been a popular route to launch private funds where a close relationship exists between managers and investors.”
She continued: “We were delighted to be instructed again by EV Private Equity in the launch of this PIF, which attracted substantial investment in its first closing and for which a second closing is scheduled for later in the year.”