Ravenscroft launches fund to provide investment into financial services companies

Monday 10 October 12:29

RAVENSCROFT has launched a new fund dedicated to investing in financial services companies.

The Financial Services Opportunities Investment Fund Limited (the “Fund) is a closed-ended collective investment scheme, which aims to offer investors both an income stream and long term capital growth by investing in financial services companies based principally in global offshore financial centres.

‘The launch of the Financial Services Opportunities Investment Fund follows the success of Bailiwick Investments Limited, which provides investment into Channel Islands businesses including SandpiperCI and Jacksons Group; as well as the Channel Islands Property Fund, which is a specialist real estate investment company which owns landmark buildings such as Liberation House, Glategny Court and Fort Anne in its portfolio,’ said Jon Ravenscroft, group chief executive officer at Ravenscroft who will act as Investment Manager to the new Fund.

‘Those two funds have more than delivered on expectations through the leadership of the independent boards of directors and the expertise of the investment management team. It was clear that there was a real opportunity, and appetite, to have a fund which focused on financial services businesses situated in, registered, headquartered or managed from established and well-regulated offshore financial centres and so I am delighted that months of work has now come to fruition.’

The Fund, which is regulated by the Guernsey Financial Services Commission and listed on the Channel Islands Securities Exchange, will focus on investment opportunities in privately held companies wanting to accelerate growth through acquisition, facilitate ownership change, or recapitalise their balance sheet. The investment manager will also identify senior executives seeking a financial partner to acquire or invest in a company or sector in which they have knowledge and a proven track record of value creation.

‘The Fund will focus on the fiduciary, fund administration, investment management, insurance and advisory sectors, initially in the Channel Islands and the Isle of Man and then in other global offshore financial centres,’ said chairman of the board of directors Mel Carvill.

‘This is an exciting opportunity for investors to play a role in the growth and development of financial services companies which have untapped potential. Those companies will in turn benefit from having long-term investors dedicated to developing a culture of good corporate governance and experienced in adding considerable value.’

The Fund was listed on the Channel Islands Securities Exchange on Friday 7th October with a minimum capital of £30m. The first acquisition of a local financial services company is due to complete this quarter.

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