Carey Olsen advises on Yoo Capital Fund II launch

Lawyers from Carey Olsen's investment funds team in Jersey have advised Astarte Capital Partners on the Jersey aspects of the first closing of Yoo Capital Fund II (YCFII) – the first in a series of funds launched by a partnership between Yoo Capital Investment Management and Astarte Capital.

Langham Hall, a provider of fund administration services, has been appointed to provide administration and accounting services to the fund and its associated vehicles from its Jersey and London offices.

YCFII, which has secured the commitments of institutional investors from across six continents, has so far secured GBP200 million in new capital to deploy – half way to its fundraising target of GBP400 million. It will look to invest predominantly in Central London and focus on edge of prime and infill locations that will create institutional-quality mixed use, leisure, healthcare and life sciences real estate assets.
 
The Carey Olsen team advising on the launch was led by partner Chris Griffin, assisted by associate Stephanie Hobbs.
 
Griffin says: "It is great to welcome another new manager to Jersey. The launch of YCFII demonstrates the strength of institutional investors' confidence in Astarte Capital's partnership with Yoo Capital, even in the face of the current COVID 19 climate."
 
Langham Hall's managing director in Jersey, Chris Marshall adds: "The focus of YCFII on a core market like London has been well received by investors, and it is encouraging that commitments are still being underwritten despite the continued uncertainty the industry faces. Once again, the Jersey Private Fund with its versatility, speed to launch, light-touch regulation and easy access to European investors has proven successful."