Ogier's Hong Kong team has advised on the launch and final closing of 8F Aquaculture Fund I LP. The fund closed, together with its parallel fund 8F Aquaculture Fund I (Ireland), with capital commitments of US$358 million, well exceeding its initial target. The funds are advised by 8F Asset Management Limited, an impact focused private equity firm based in Singapore, with group offices in Hong Kong, London and Frankfurt.
The investment strategy of 8F Aquaculture Fund I LP is focused on developing a socially and environmentally responsible land-based salmon farming business, which is being developed globally. The investor base for the Fund comprises leading institutional investors including several sovereign wealth funds, as well as insurance companies, pension funds and family offices, located in Europe, Asia, the Middle East, Latin America and the United States.
The Ogier team was led by partner Kate Hodson and assisted by managing associate Richard Bennett and associate Priya Badlani with Rajah & Tann acting as Singapore counsel.
Commenting on the deal, Kate Hodson said: "We are delighted to have worked with 8F on its incredibly successful launch and final closing of its first fund. Closing with commitments ahead of target and with commitments from several sovereign wealth funds this is a true testament to the vision of the fund's strategy. The launch of the 8F funds coincides with the launch of Ogier's Sustainable Investing and Impact Funds practice and so we were particularly pleased to be able to test case our offering with such a noteworthy impact fund launch."
A link to details of Ogier's Sustainable Investing and Impact Funds practice can be found here: