Darwin Group has launched its second Guernsey fund which has successfully raised approximately £100 million in capital at launch.
The award-winning group's Darwin Leisure Development Fund is a new alternative investment proposition for UK local authority pension schemes which will seek to invest in UK holiday parks showing 'potential' for redevelopment.
This strategy reflects Darwin's overall goal of offering investment solutions that generate long-term absolute returns which both enhance capital and provide high levels of income and builds on the success of the group's first fund, the Darwin Leisure Property Fund, which has grown to nearly £500 million in value.
The Property Fund portfolio invests in UK Holiday Parks which provide tenting, touring caravan, static caravan or lodge facilities for rental and/or owner occupancy. Many of the parks also offer leisure facilities such as swimming pool complexes and catering outlets.
It purchases parks that are set in excellent locations and where it believes it can add value in order to increase both returns and capital value.
Collas Crill advised Darwin Group on the launch, the second time the two companies have worked together with the offshore law firm also advising the Property Fund as Guernsey counsel.
Darwin Chairman James Penney said the company was delighted to have successfully launched another open-ended fund in Guernsey.
"Once again the Collas Crill team have demonstrated the value of their experience in this sector and have been a pleasure to work with throughout the process.
The commercial team at Collas Crill was led by Group Partner Wayne Atkinson alongside Senior Associate Tristan Ozanne.
Mr Atkinson believed the success of Darwin's open-ended Guernsey funds highlighted the breadth of the islands investment fund community, a fair proportion of which falls into the open-ended sector.
"It is a pleasure to work once again with the Darwin team and we congratulate them on another successful fund launch," he said. "Collas Crill's funds team has a wealth of experience launching funds with alternative strategies and open-ended funds. This latest successful launch once again flags the importance of that unique skillset to the wider funds marketplace."
Among other accolades, Darwin was named Alternatives Manager of the Year at the 2015 and 2016 LAPF Investment Awards and Alternative Investment Manager of the Year at the 2016 UK Pension Awards.
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
