Carey Olsen's Jersey team acted as lead counsel on the successful launch of first time fund AVI Frontier Fund I. The Fund will invest into a series of South-East Asian companies listing on the Vietnamese Stock Exchange and allows investors to handpick which companies they want to invest in.
The Fund is structured as a Jersey limited partnership under Jersey's popular Jersey Private Fund (JPF) regime which launched in March 2017 and offers significant streamlining advantages for the establishment of private investment funds. The Fund has appointed Viet Capital Securities as its local Vietnamese investment advisor.
Robin Smith and Chris Griffin led the Carey Olsen team, assisted by associate Katrina Lindsay. Chris Griffin commented: "The combination of AVI's relationship with Viet Capital Securities and the Jersey Private Fund regime is a perfect platform to offer investors access to the South-East Asian market."
Richard Chilvers, founder and CEO at AVI Frontier Fund, said “It is an interesting time for the South East Asian markets, particularly Vietnam, as it transitions from a Frontier to an Emerging market. We are seeing a great deal of investment activity and we are excited to offer the opportunity for our investors to gain exposure to this high growth market. We converted our existing Very Private Fund structure to the new JPF regime which proved to be a simple and quick process. The new regime has provided us with a greater degree of flexibility in terms of attracting a larger number of professional investors whilst not being overburdened with greater regulatory requirements."