Bedell Cristin advises CVC Credit Partners on new $350m credit opportunities fund

30 Aug 2013

Bedell Cristin acted as the Jersey legal adviser for CVC Credit Partners Limited in relation to the establishment, launch and listing of CVC Credit Partners European Opportunities Limited (the "Company"). The Company's entire ordinary share capital of 174,729,500 million Euro denominated shares and 150,849,080 million Sterling denominated shares was admitted to the premium listing segment of the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange plc's main market for listed securities on 25 June 2013.

CVC Credit Partners Limited is part of an independent credit asset management and investment group focused on sub-investment grade debt capital markets in the US and Europe.

Goldman Sachs International acted as sponsor, global co-ordinator and bookrunner and Dexion Capital plc acted as lead placing agent.
 
The Company invests in a diversified pool of sub-investment grade debt securities issued by companies domiciled in, or with material operations in, Western Europe across various industries.

Bedell Cristin's funds team was led by Simon Pascoe, Emily Haithwaite and Richard Le Liard and worked alongside Clifford Chance (for the Company) and Herbert Smith Freehills (for Goldman Sachs). Bedell Cristin's expertise in investment funds enabled the team to advise in relation to the Company's innovative liquidity and discount control mechanism and also to ensure that the Company took full advantage of the fast-track approval process afforded to listed funds in Jersey, with approval from the Jersey Financial Services Commission being received within 3 days of the application being made. The Company is a closed-ended investment company authorised and regulated in Jersey under the Jersey Listed Fund Guide.

For further information please contact Richard Le Liard.