Carey Olsen and Langham Hall have advised PX3 Partners, the London-headquartered private equity firm, on the final close of its inaugural fund, PX3 Partners Fund I, at its €500 million hard cap.
The close brings PX3’s total assets under management to €1.1 billion.
Fund I attracted a broad and diverse group of institutional investors from across North America, Europe, the Middle East and Asia-Pacific. These included asset managers, endowment and foundations, global family offices, insurance companies and pension funds, as well as prominent business founders and executives.
The Fund has already invested in three globally leading businesses: Com Laude, a global domain and brand protection specialist; Cofimco, the world’s leading manufacturer of extruded aluminium fans; and Cleanova, a leading provider of industrial filtration systems.
The Carey Olsen corporate team acting as Guernsey legal counsel to PX3 was led by partner David Crosland (pictured), and supported by senior associates Tracey Powell and Oliver Orton.
The Langham Hall team, led by partner Jon Young, provided full fund administration services, including regulatory and compliance support, investor onboarding and ongoing operational oversight.
David Crosland, partner at Carey Olsen, commented: “We were delighted to have supported PX3 Partners on their high-profile debut fund and successful first acquisitions. The momentum they have developed in such a short space of time has been truly impressive. Guernsey has once again proven itself as the ideal base for high-calibre fund managers to raise capital from international investors and we look forward to supporting PX3’s future investment activity.”
Jon Young, head of Guernsey and partner at Langham Hall, added: “Congratulations to the whole team at PX3. This is an outstanding first-time fundraise, already underpinned by three high-quality investments. We are proud to be part of their journey and look forward to continuing our partnership as the fund evolves.”
