A $2.75 billion infrastructure fund has been domiciled in Guernsey.
Basalt Infrastructure Partners launched Basalt III, which is the leading mid-market infrastructure investment firm's largest fund to date.
It received strong demand from the investor community and was significantly oversubscribed, with the fund exceeding its original $2 billion fundraising target.
Basalt III will continue the strategy of transatlantic investing across Europe and North America, focusing on opportunities in the utilities, power, transport, and digital communications sectors.
Lawyers from Carey Olsen advised Basalt on all legal and regulatory aspects of its launch in Guernsey, led by partner David Crosland.
He said: "The hugely successful fundraise demonstrates the confidence in Basalt as an investor in the infrastructure sector's mid-market and its market leading position.
"Similarly, we are glad that Guernsey continues to be seen as a jurisdiction of choice for well-known fund managers such as Basalt."