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Harneys Acts as British Virgin Islands Counsel to DV4 Ltd.

Posted: 18 March 2008

Harneys, an offshore IBC law firm, has advised DV4 on British Virgin Islands international law in connection with the close of its new UK and European real estate fund which has equity commitments in excess of Euro 1.5bn and will have the capacity to invest up to Euro 6bn.

It was a demanding, very interesting and multi-faceted transaction for the international law firm because of the client's requirements and its complexity caused by its structure which catered to the different requirements of several institutional investors.

Previous funds in respect of which Delancey have acted as investment adviser have invested in a wide variety of real estate related activities including direct investments, developments, public and private companies, equities and through the provision of venture capital.

Unlike previous funds, which have been entirely UK focused, the new fund has the capacity to invest across mainland Europe. Unusually, it has been structured as an evergreen investment vehicle, meaning that investors are providing long-term unrestricted capital facilitating longer term commitments without the restrictions that a limited life fund imposes and therefore providing the platform to invest in larger more complex opportunities.

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