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Guernsey fund recognised for $120m deal of the week

Posted: 14 July 2008

Crystal Amber Fund Limited is a Guernsey, incorporated closed-ended investment fund, with a Guernsey incorporated and licensed manager, which raised $120 million before expenses.

Carey Olsen partner Ben Morgan advised City firm Norton Rose on the listing of the $120 million Crystal Amber Fund Limited on the Alternative Investment Market (AIM).
With fewer funds being listed on AIM in the current economic climate, the deal was selected by the Law Society's weekly publication as the "Listing Deal of the Week".

The objective of the fund is to build a concentrated portfolio of predominantly mid-cap UK companies (with a typical market capitalisation of between $200 million and $2,000 million) and take steps to enhance their value.

Advocate Morgan said: ‘This was an interesting and innovative deal to work on, which The Law Gazette recognition reflects.

AIM has traditionally been home to smaller growth companies but in the current financial climate there is value to be had through activist funds, like Crystal Amber, which are expanding their influence on the stock markets.'

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