Guernsey has been selected as the jurisdiction of choice for the establishment of a large closed-ended investment fund listed on the London Stock Exchange.
John Laing Infrastructure Fund, advised by Mourant Ozannes and administered by Heritage International Fund Managers, was admitted to the official list of the Financial Services Authority and to trading on the London Stock Exchange’s main market for listed securities on 29 November.
The fund, which raised GBP270m, was the second largest investment fund launched on the LSE this year, second only to Anthony Bolton’s Fidelity Special Situations China Fund, and is the largest Guernsey LSE public offering of 2010.
Andrew Walters, the Mourant Ozannes partner leading the Guernsey legal team, says: “This is another great win for Guernsey and is particularly pleasing given the reduced number of listed funds being launched in the current climate. Guernsey is already home to a number of other large listed infrastructure funds and the successful launch of this fund clearly establishes Guernsey as the leading jurisdiction for funds of this type.”
Mark Huntley, managing director of Heritage International Fund Managers, adds: “We are delighted to add John Laing Capital Management to our client list. We have a strong belief in, and commitment to, infrastructure funds as an asset class. Guernsey continues to build on its reputation as the location for investment funds investing in infrastructure projects.”
The John Laing Infrastructure Fund will invest in a portfolio of public sector, government backed, private finance initiative/public private partnership operations within the health, schools, justice and emerging services, roads, regeneration, defence and street lighting sectors located in UK, Canada and Finland.
