SoftBank Group Corporation (SoftBank) has selected Jersey for the structuring of its new Vision Fund, working alongside law firm Carey Olsen and fund and corporate services provider the Aztec Group. 

The SoftBank Vision Fund L.P. has now raised over $93 billion in committed capital, making it the world's largest ever investment fund. This record-breaking level of commitment has been raised from some of the world's largest sovereign wealth funds and biggest and most recognised technology companies. 
 
The Fund has drawn widespread public interest since it was announced in October 2016, due to the significant fundraising target, high profile investors and, in particular, the potentially transformative effect it will have on the development of future-focused global technology.
 
Carey Olsen Jersey funds partners, Robert Milner and Daniel O'Connor, led a team of seven lawyers advising on the Jersey legal and regulatory aspects of the Fund's establishment and regulatory authorisation, working in tandem with the Aztec Group and with a team of highly recognised advisers across the globe. 
 
Private equity specialist, Simon King, led the Aztec Group team, who managed the establishment of the Fund’s operational, governance and accounting framework. Aztec Group will continue to provide the ongoing administration services to support the Fund’s activities and investors.  
 
           Robert Milner, Partner at Carey Olsen and Director of the Vision Fund, said: 
 
“Jersey's flexibility in establishing EU and non-EU funds, together with its stability and international reputation were key factors in the analysis which brought this hugely significant fund to the Island. It is exactly the sort of work we love doing – innovative and exciting – and a real landmark for Jersey funds.”
 
Simon King, Private Equity Director at the Aztec Group and Director of the Vision Fund, commented: 
 
“We are delighted to have been selected to administer SoftBank’s Vision Fund. It’s a huge vote of confidence, both in the Aztec Group and Jersey as a leading international financial centre and jurisdiction of choice for private international capital-raising from sophisticated investors. The team have been exceptional and I could not be more pleased and proud of the work they have produced for this significant client.”
 
Daniel O'Connor, partner at Carey Olsen and Jersey counsel for the Vision Fund, said:
 
“The Jersey Financial Services Commission provided a responsive and proportionate approach when considering the application which enabled the structure to be established within a tight timetable. The choice of Jersey for the Fund and its general partner is further evidence that Jersey funds are understood and accepted by the international investor community and that Jersey provides fast, flexible and cost-effective solutions for all non-retail funds, from new start-ups right through to the largest and most complex of funds.”

For further information about Carey Olsen visit www.careyolsen.com or contact:

Martyn White
T: 0044 (0)1534 822214
E: martyn.white@careyolsen.com