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Nimrod Capital launches new Guernsey fund

28 March 2014

Nimrod Capital's latest Guernsey fund will invest in vehicles which acquire, charter and sell marine assets associated with the offshore oil and gas industry.

Nimrod Sea Assets Limited, a Guernsey domiciled investment company, has listed on the Specialist Fund Market (SFM) of the London Stock Exchange. It is Nimrod Capital's eighth listed investment company since 2008.

JTC Group's (JTC) Guernsey office will be administrators of the fund. JTC Group has significant experience administering listed structures and currently provides administration services to more than 30% of the companies listed on the SFM.

Paul Duquemin, Managing Director of JTC Group's Guernsey office, said: "We are delighted to be chosen to administer Nimrod Sea Assets and to have experienced the impressive work by the team at Nimrod Capital LLP. They have an enviable track record of advising and raising money for listed investment companies and Nimrod Sea Assets increases their portfolio to eight listed investment companies since April 2008.

"This is an exciting and innovative structure and an excellent fit with our key strength in administering listed investment structures. JTC Group prides itself on providing a first class service to our clients and is very much looking forward to partnering with the team at Nimrod Sea Assets."

Robin Douglas, Acting Finance & Operations Manager of Nimrod Capital LLP, commented: "JTC Group has an excellent reputation, vast experience and expertise in administering innovative investment companies. That, along with the strength of their existing relationship with Nimrod Capital, made them an ideal and perfect fit when selecting our administrator."

In addition to JTC Group's involvement, Carey Olsen is providing Guernsey legal advice, while the Guernsey offices of Anson Registrars, Deloitte and RBS International are the fund's registrar, auditor and principal bankers respectively. Herbert Smith Freehills is providing English legal advice.

Ben Morgan led the Carey Olsen legal team and was supported by associate John Scanlan. The team previously advised on the listing of the successful aircraft investment company Doric Nimrod Air Three.

Advocate Morgan said: "This launch further demonstrates Guernsey's premier position as a jurisdiction of choice for LSE-listed investment companies. For Carey Olsen it is another example of our expertise and experience in the preparation and launches of this type."

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