Jersey-based law firm Carey Olsen's investment funds team have advised Astarte Capital Partners on the Jersey aspects of the first closing of Yoo Capital Fund II - the first in a series of funds launched by a partnership between Yoo Capital Investment Management and Astarte Capital, it was confirmed this morning.
Langham Hall, an award winning provider of fund administration services, has been appointed to provide administration and accounting services to the fund and its associated vehicles from its Jersey and London offices.
YCFII, which has secured the commitments of institutional investors from across six continents, has so far secured £200m in new capital to deploy - half way to its fundraising target of £400m. It will look to invest predominantly in Central London and focus on edge of prime and infill locations that will create institutional-quality mixed use, leisure, healthcare and life sciences real estate assets.
Once again, the Jersey Private Fund with its versatility, speed to launch, light-touch regulation and easy access to European investors has proven successful."
The Carey Olsen team advising on the launch was led by partner Chris Griffin, working with associate Stephanie Hobbs.
Griffen said today: "It is great to welcome another new manager to Jersey. The launch of YCFII demonstrates the strength of institutional investors' confidence in Astarte Capital's partnership with Yoo Capital, even in the face of the current covid-19 climate."
Langham Hall's managing director in Jersey, Chris Marshall added: "The focus of YCFII on a core market like London has been well received by investors, and it is encouraging that commitments are still being underwritten despite the continued uncertainty the industry faces. Once again, the Jersey Private Fund with its versatility, speed to launch, light-touch regulation and easy access to European investors has proven successful."