Jersey based alternative asset fund administrator EFG Fund Administration Limited (“EFG”) is delighted to announce the launch of Hollyport Capital’s new fund.

London based investment management firm Hollyport Capital have appointed EFG as Trustee and Administrator to Hollyport Secondary Opportunities III, a Private Equity Fund targeting £30m of investment which has applied for listing on the Channel Islands Stock Exchange (“CISX”) with EFG Offshore Limited acting as Sponsor.

Hollyport Secondary Opportunities III, which has just achieved its first closing, is the third in a series of funds which invest in small parcels of mature and orphaned private equity fund interests. EFG acts on behalf of all three vehicles.

Fund I, raised in 2007, has returned more than double the invested capital in cash, and at the most recent valuation reported a total return of over 4 times capital. Fund II, raised in 2008, is now fully invested and at June 2010 was valued at 1.5 times cost.

A substantial majority of the investors in Hollyport’s two previous secondary funds have committed to Fund III, and they have been joined by a number of new investors, which has resulted in a doubling of the overall investor base. The new fund is applying for a listing on the CISX with EFG Offshore Limited acting as sponsor.

John Carter, Chief Executive of Hollyport Capital, commented:

“We are delighted to have achieved a first close of our third fund in such a short time, particularly when considering the difficult fund raising environment. We had no hesitation in appointing EFG as administrator in view of the excellent levels of service provided to our other funds and their proven capability within this asset class.”

Ian Henderson, Managing Director of EFG Fund Administration Limited, added:

“I think our appointment is testament to the level of focus we place on building and strengthening relationships with clients through high quality service. We have an excellent team at EFG which is very skilled in dealing with Private Equity as an asset class and we look forward to contributing to the success of this new fund.”

Ends

For further information please contact:
Ian Henderson – Managing Director Tel: + 44 1534 605693 Email: ian.henderson@efgoffshore.com
Nigel Greenwood – Director Tel: + 44 1534 605670 Email: nigel.greenwood@efgoffshore.com

About EFG Fund Administration Limited
EFG Fund Administration Limited (“EFG”) provides a full range of administration services, embracing both closed and open-ended funds, investment vehicles structured as companies, unit trusts and limited partnerships, and their associated structures and subsidiaries. Administration services are provided to both EFG Group funds and third party clients from various jurisdictions; clients include major banks, investment houses, property specialists and private equity firms.

EFG has established a high reputation for the administration of specialist funds such as private equity and property. Currently the net asset value of funds under administration totals over USD 1.5 billion which are comprised across circa 30 separate structures.

EFG Fund Administration Limited employs 20 staff in Jersey to deliver administration services to the funds of its global clients.

EFG Fund Administration Limited is a wholly owned subsidiary of EFG Offshore Limited and is regulated by the Jersey Financial Services Commission.

About EFG Offshore Limited
EFG Offshore Limited (“EFG Offshore”) is located in Jersey and is a member of the prestigious EFG Bank Group, which is based and headquartered in Switzerland.

EFG Offshore can trace its origins in Jersey back to 1928 and employs more than 90 people in the Island.

EFG Offshore operates via two main subsidiaries in Jersey, EFG Trust Company Limited, which houses the private client business, and EFG Fund Administration Limited, which specialises in third-party fund administration services. EFG Offshore is licensed to provide fund administration and custodian services and is a listing member of the Channel Islands Stock Exchange.

In addition to Jersey, the EFG Offshore Group also has an office in Singapore.

EFG Offshore Limited is regulated by the Jersey Financial Services Commission.

About Hollyport Capital
 Hollyport Capital is a specialist investment manager based in London focused on global private equity secondaries. Its three Principals have a combined experience of the private equity market of over 75 years, enabling Hollyport to source and appraise the value of global private equity fund portfolios. Founded in 2006, Hollyport has raised three secondary funds each focused on acquiring legacy private equity fund interests.

Investors in Hollyport Funds include Institutions, Family Offices and Sophisticated High Net Worth Individuals.

Hollyport seeks to minimise investment risk by acquiring assets highly diversified by fund type, manager and geography. By focusing on mature assets, Hollyport is able to offer the prospect of earlier liquidity to its investors.

Hollyport Capital LLP is authorised and regulated by the Financial Services Authority.