Carne Group has been chosen to provide support for the successfully listed River and Mercantile UK Micro Cap Investment Company Limited, which is domiciled in Guernsey.
The Company will be admitted to the Premium Segment of the Official List of the UK Listing Authority and commence trading on the 2 December 2014 on the London Stock Exchange.
The Company is making use of Carne’s Channel Islands management company, which was authorised as an AIFM by the Jersey Financial Services Commission (JFSC) in October. The management company is a non-EU AIFM structure which can be used to distribute funds into the UK under the National Private Placement Regime.
The Company’s assets will be managed by River and Mercantile Asset Management LLP, which is authorised and regulated by the Financial Conduct Authority. River and Mercantile is a UK-based investment management firm specialising in managing UK and global equities for institutional and retail investors.
Carne’s Managing Director in the Channel Islands, Mark Hodgson, has also been appointed to the board of the Guernsey Company.
Hodgson says: “We are very excited to be supporting a listing of this scale via our management company in the Channel Islands. Carne has already been chosen as a provider of AIFMD governance and oversight to several leading names in the global fund management industry. With the authorisation of our Channel Islands AIFM in October, we are now in a position to cater to those funds seeking a non-EU AIFM solution.”
Julian Cripps, Chief Operating Officer of River and Mercantile Asset Management LLP, says: “We are pleased to have been able to work with a firm of Carne’s experience and professionalism in what has been a successful initial placement. Their deep understanding of the regulatory and oversight requirements of AIFMs has played a valuable role in the launch of the Company.”
Carne was the first independent provider to launch an AIFMD management company in Ireland in 2013. Since then it has also received authorisation for a Luxembourg AIFMD management company. Carne’s management companies are supported by a team of highly experienced risk management professionals and independent fund directors in Ireland, Luxembourg and the Channel Islands.
