LG advises on launch of access fund
6 May 2005
LG has advised Access Fund on its launch together with its two feeder funds - Access Feeder Unit Trust, established in Jersey, and Access Exempt Unit Trust, an English exempt unauthorised unit trust. The Access Fund is jointly sponsored by Knight Frank Corporate Finance and Antler Group.
The Access Fund is an English limited partnership with a six year life seeking to raise a minimum of £8.5 million and a maximum of £16 million from investors. It is also arranging a revolving credit facility of up to £60 million from Helaba Bank.
Conditional on the minimum subscriptions being received and on the credit facility becoming otherwise unconditional, the Fund has agreed to purchase from a subsidiary of Antler a portfolio of ten UK properties, comprising eight industrial warehouses and two south east office buildings, for an aggregate of £38.5 million.
The LG team advising the Fund was led by Business and Finance partner, Victoria Younghusband, and included real estate partner David Hayward, corporate assistants Victoria Thorp, Adam Bradley and Gillian McCarthy. Finance partner Jane Spiers is advising the Fund on the credit facility.
Carey Olsen (partner Eve Kosofsky and assistant Michael Mathieson) acted on the establishment of Access Feeder Unit Trust.
Victoria Younghusband commented:
"Access Fund is targeting a niche part of the market and represents a first for both Knight Frank and for Antler. We have enjoyed being involved in its set up."
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Victoria Younghusband
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