Carey Olsen supports Gurr Johns on launch of art lending fund
Carey Olsen's Jersey investment funds team has advised Gurr Johns, a global independent art advisory and appraisal group, on the launch of Gurr Johns Capital Credit Partners (Gurr Johns Capital) – a new fund dedicated to providing innovative and flexible solutions to investors in the global art and collectibles market.
Established as a Jersey Private Fund (JPF), Gurr Johns Capital recently held its first close and has a fundraising target of US$100 million.
The fund will support Gurr Johns' established service offering, with Gurr Johns Capital having a specific focus around creating bespoke financial solutions for individuals, galleries, companies and institutions – whether that be for releasing liquidity, making new acquisitions or bridging cash flow needs.
Working alongside onshore counsel Schulte Roth & Zabel LLP, the Carey Olsen team advising on the structuring, establishment and regulatory aspects of the fund's launch under the JPF regime was led by partner Robert Milner, assisted by associate Sally Smith.
Alessandro Fiorotto, managing director of Gurr Johns Capital, said: "Carey Olsen's legal advice and support was central in ensuring a smooth and efficient launch of Gurr Johns Credit Partners. The fund is a new and innovative concept within the art advisory space and it was extremely reassuring to know we had Robert and Sally on our side in order to provide us with the necessary experience, industry insight and professionalism required to structure and establish the fund."
Robert added: "It was great to work with the Gurr Johns Capital team on this exciting launch. The fund is unique and innovative in its purpose in that it is allowing investors to access an asset class that would otherwise be unavailable to them. Indeed, we are seeing plenty of activity in the funds sector around esoteric asset classes and it's pleasing to see Jersey's attractiveness in this space, particularly among innovative and dynamic first-time promoters."
