A Guernsey fund focused on investing in digital infrastructure assets has become the first in its sector to conduct an initial public offering (IPO) on the London Stock Exchange.

Raising gross proceeds of £370 million, Cordiant Digital Infrastructure has listed on the Specialist Fund Segment of the LSE's Main Market.

It will primarily invest in the core infrastructure of the digital economy, data centres, fibre-optic networks and mobile towers in the UK, Europe and North America.

Lawyers from law firm Carey Olsen worked on the deal, led by partner Ben Morgan. He said the listing was one of the largest listed alternatives fund IPOs in recent years, and one which would meet increasing investor demand in this fast-growing area of the economy.

He said: "It is also further evidence of Guernsey's ongoing appeal for listed vehicles of this kind, owing to the jurisdiction's long-held experience and expertise in the establishment and operation of funds of this nature."

Guernsey is the leading jurisdiction outside of the UK for listings on the LSE, and Carey Olsen has been the leading offshore law firm in this area for 15 consecutive years.

Originally Published by Guernsey Finance, February 2021

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