Ogier in Jersey has advised real estate investment manager Knight Frank Investment Management, the investment management arm of Knight Frank, on the launch of its first investment fund.
The fund is an open-ended Jersey Expert Fund structured as a Jersey unit trust.
The fund, which raised more than £300 million in its first close, will invest in UK real estate and aims to provide investors with a low risk income return, targeting well-let assets with strong underlying property fundamentals. Equity for the first close was provided by pension fund clients of brokerage firm Willis Towers Watson.
Kevin Aitchison, chief executive of KFIM, said: “Launching our first fund is an important step in the on-going development of the KFIM business and, coming so soon after passing £1bn of assets under management, continues the underlying momentum within the business.”
Commenting on the deal, Niamh Lalor said: “We are delighted to have advised KFIM on the successful launch of their first fund, and are particularly pleased with the high level of investor interest in the first closing”.
The Ogier team was led by partner Niamh Lalor, assisted by Dilmun Leach (senior associate) and Tatiana Collins (associate). The team worked alongside Nabarro LLP as lead onshore counsel. Sanne Trustee Services Limited are providing a “manco” trustee and AIFM for the fund.