Ogier's Jersey funds team has advised M7 on the launch of its first Central European fund, M7 Central European Real Estate Fund 1 (M7 CEREF).
M7 CEREF is the first of M7's funds focused entirely on Central Europe and was established in Jersey as a Private Placement Fund structured as a limited partnership. It will target both Core Plus and high yielding regional opportunities across major cities in the Czech Republic, Croatia, Hungary, Poland and Slovakia. M7 CEREF recently held its first close, having raised commitments totalling €35 million and a second close is expected to take place by the end of 2016.
In Jersey, the Ogier team was led by Partner Niamh Lalor assisted by Senior Associate Alexandra O'Grady and Associate Stephanie Edge. Ogier worked with Skadden, Arps, Slate, Meagher & Flom (UK) LLP as lead onshore counsel, with Alter Domus Jersey acting as fund administrator.
Niamh Lalor said: "The launch of M7's first Central European fund as a Jersey Private Placement Fund demonstrates Jersey's commitment to providing a fast, investor friendly vehicle, suitable for managers such as M7 that value certainty and speed to market. We wish M7 all the best."