IQ-EQ's Guernsey funds team, together with the investment funds team of Carey Olsen in Guernsey, have advised Queen's Park Equity (QPE) on the successful launch of its debut fund, Queen's Park Equity Partners I, which closed at its hard cap of £185 million having been raised entirely during the Covid-19 pandemic.
Exceeding its initial fundraising target of £150 million, strong investor support for the fund came from international institutions including endowments, foundations, family offices, pension funds and fund-of-funds, as well as from the QPE founders' network of highly experienced, sector specific ambassadors.
Established in 2020, QPE is focused on providing capital and expertise to high-quality businesses within education, healthcare and pharmaceuticals, and tech services.
Working alongside onshore counsel Sidley Austin LLP, leading offshore law firm Carey Olsen has advised on all Guernsey aspects of the fund's establishment, launch and closing, while IQ-EQ is providing a full suite of administration services to the fund, including ongoing compliance, corporate governance and accounting.
Leading the team at IQ-EQ Guernsey is client services director Andrew Elder, who commented:
"Supporting Queen’s Park Equity with its maiden fund launch has been a real pleasure. Their target asset classes and investments, which include healthcare and e-learning, are especially relevant in the current environment and we have been thrilled to see such fundraising success during these uncertain times.
"QPE is one of several first-time managers that IQ-EQ Guernsey has assisted in recent months and they’re part of a welcome trend of new promoters launching in Guernsey, highlighting the ever-strengthening global position of our island as a leading funds domicile. We look forward to working closely with the QPE team as they continue from strength to strength."