The global finance centre of Guernsey has chosen by a new private equity manager for the launch of its debut fund.
Queen's Park Equity Partners I closed at its hard cap of £185 million, raised entirely during the Covid-19 pandemic and exceeding its initial fundraising target of £150 million.
Established only last year, QPE is focused on providing capital and expertise to high-quality businesses within education, healthcare and pharmaceuticals, and tech services.
"Queen's Park Equity Partners I is the latest in a number of first-time funds to be launched in Guernsey and emphasises the jurisdiction's appeal to young venture capital and private equity firms," said Carey Olsen Partner David Crosland. The law firm advised on the launch alongside the funds team from IQ-EQ in Guernsey.
"Guernsey's respected and flexible regulatory regime together with expert advisers and quality service providers means emerging managers looking to establish their first fund know they are in good and experienced hands."
IQ-EQ is providing a full suite of administration services to the fund. Client Services Director Andrew Elder said QPE was part of a welcome trend of new promoters launching in Guernsey, "highlighting the ever-strengthening global position of our island as a leading funds domicile."
Originally Published by Guernsey Finance, February 2021
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