Carey Olsen advises Patron Capital on its latest European real estate fund
Carey Olsen's Jersey funds team has advised Patron Capital on the launch of its latest European real estate fund, Patron Capital, VII L.P. (“Fund VII”), which recently held its final closing raising in excess of €860 million, including approximately €200 million of discretionary co-investment capital for larger opportunities.
This is the third Patron Capital fund domiciled in Jersey under the island's well-established Expert Fund regime. Fund VII will continue the to employ Patron Capital's opportunistic investment strategy which focuses primarily on distressed and/or undervalued property and property related investments, mostly in Western Europe, and has a welcome ESG focus.
The Carey Olsen team advising Patron Capital comprised partner Chris Griffin and associate Heather Taylor.
Chris Griffin said: "Fund VII is clear evidence that managers can continue to launch well-regulated funds from Jersey in a pragmatic and cost-effective way, even in these challenging times."
Patron Capital's general counsel, Kendall Langford, commented: “Patron Capital values long term relationships and the continuity afforded by working with Carey Olsen on consecutive funds, coupled with the stability of the Jersey Expert Fund regime, was a real benefit.”
