Guernsey chosen as domicile for Apax's London listing

19 June 2015

Guernsey is home to new London Stock Exchange (LSE) Main Market listing, Apax Global Alpha Limited (AGA).

The vehicle, which is a registered, closed-ended collective investment scheme, began trading on the LSE earlier this week. It will allow AGA investors to take advantage of opportunities in both private equity and derived investments

AGA is managed by Guernsey licensed manager Apax Guernsey Managers Limited and advised by Apax Partners LLP (Apax).

The Guernsey office of offshore law firm Carey Olsen advised AGA on the listing. The transaction involved the acquisition by AGA of more than €600 million in existing investments and the raising of €300 million in capital for new investments. 

Partner Christopher Anderson, who led the Carey Olsen team, said: "Many private houses aspire to establishing a listed permanent capital vehicle such as AGA. Its launch is a testament to Apax's excellent track record.

"The fact that Guernsey has been chosen as the domicile for such a prestigious fund, and that management of over €600 million in assets will move from Luxembourg to Guernsey as a result of the listing, speaks volumes for the island."

Clifford Chance is the lead legal adviser to AGA, while Aztec Group is providing administration and depositary services from its Guernsey Office.

Matt Horton, Director of the Aztec Group, said: "The experienced teams involved have worked seamlessly to achieve the listing of AGA on the LSE. The success of this listing clearly demonstrates the appetite from investors to obtain exposure to funds advised by Apax and their continued confidence in Guernsey as a funds jurisdiction."

Download Find a related practitioner