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Inflexion Private Equity closes 2010 Buyout Fund

UK private equity house Inflexion Private Equity has closed its new 2010 Buyout Fund which has raised a total of GBP375m.

Carey Olsen’s corporate group in Guernsey advised Inflexion on the establishment and regulation of the fund, as a closed-end registered collective investment scheme in the form of a dual limited partnership structure.

The firm also provided legal advice on corporate governance and administration.

The 2010 Buyout Fund will target high-growth UK companies and will look at ten to 15 potential investment opportunities. It is the first offshore fund to be established by Inflexion.

The Carey Olsen team was led by corporate partner Andrew Boyce, who was assisted by senior associate David Crosland and associate Oliver Quarmby. The team worked alongside Ashurst which acted as UK counsel to the fund.

Boyce says: “We have seen a marked increase during the last quarter of 2010 of new fund establishments and launches. This fund is significant not only because it is indicative of a new optimism from promoters in the market who are keen to raise capital but also in the face of threats, such as the Alternative Investment Fund Manager directive, fund managers and investors alike still view Guernsey as the jurisdiction of choice.”

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