Carey Olsen’s investment funds team in Guernsey, together with the Guernsey funds team of global investor services group IQ-EQ, have advised Queen’s Park Equity on the successful launch of Queen’s Park Equity Partners II.
The fund closed oversubscribed at £305 million.
The fundraise, which took just four months, received significant support from existing investors, demonstrated by the re-up rate of 114%, in addition to welcoming new investors. The blue-chip LP base includes endowments, foundations, institutional family offices, pension funds, and fund-of-funds.
The amount raised by Fund II is more than a 50% increase on QPE Fund I which also closed oversubscribed at £202 million. Fund II will employ the same strategy as Fund I and work directly with founders and entrepreneurs across the education, health and pharma, and tech services sectors.
The Guernsey team advising QPE comprised partner David Crosland (pictured), senior associate Oliver Orton, associate Tabitha Lepp, and trainee Sophia Brown.
David Crosland commented: “We are pleased to have advised Queen’s Park Equity on the launch of their second fund alongside IQ-EQ, having both supported the team on the launch of their debut fund in 2020. The success of the fundraise is testament to the confidence new and existing investors have in Queen’s Park Equity and reinforces Guernsey’s position as a leading jurisdiction for establishing private equity funds.”
Leading the team at IQ-EQ Guernsey is funds director Tim Wilson, supported by funds onboarding manager Luke Gardner, senior officer Patrick Bougourd, and administrator Samantha Warr.
Tim Wilson added: “We’re delighted to be partnering with Queen’s Park Equity on their second fund; the response from investors has been incredible. We’re grateful for the opportunity to continue strengthening our partnership with QPE and wish them every success in becoming the leading private equity firm within the UK lower-mid-market.”
