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06 July 2021
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Ogier in Jersey has advised investment firm Cain International on the final closing of its European Real Estate Opportunity Fund I (EREO I), which secured €324 million despite challenging circumstances for investors.
The fund, which availed itself of the Jersey Private Fund regime, raised investment commitments from Goldman Sachs’ Vintage Funds, US-based Security Benefit Life Insurance Company, Cain’s founding partners and members of its senior management team.
Some 70% of EREO 1's capital has been deployed across several European gateway cities, including Dublin, Paris and Madrid. Its remaining capital will be used to target opportunities in the residential sector in markets where Cain has an established investment track record.
"We are so happy to have supported Cain International from inception and establishment, to the final close of EREO I, particularly given the very challenging circumstances for both investors and emerging managers," said partner Sophie Reguengo, who led the Ogier team, with assistance from associate Brooke Lewis.
"A forward-thinking approach and a portfolio that spans some of Europe’s most desirable and promising markets has proven an attractive opportunity for globally recognised institutional investors. The Jersey Private Fund regime has once again demonstrated how its flexibility can assist managers to pool global capital from institutional investors to invest in the UK and European real estate markets.
"We were delighted to work alongside leading law firm Allen & Overy and Jersey fund administrator Ocorian."
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