21 May 2014 | 11:07 am | 1 min. read
International law firm Pinsent Masons is advising Fair Oaks Capital, an independent advisory firm focussed on global credit, on the launch of Fair Oaks Income Fund and its listing on the London Stock Exchange (LSE). Fair Oaks Capital has been established by former GSO/Blackstone and Stone Tower Capital principals.
Investment funds co-head, Daniel Greenaway is leading a team at Pinsent Masons including the firm’s co-head of corporate finance, Louise Wolfson, and members of the tax and regulatory groups.
Miguel Ramos Fuentenebro, co‐founder of Fair Oaks Capital, said: "We selected Daniel because of his expertise in establishing debt funds and were impressed with the hands-on and practical advice of him and his team to help launch to a tight timetable. We are looking forward to developing our relationship with Pinsent Masons as the fund's assets under management grows."
Daniel Greenaway said: "We are delighted to advise Fair Oaks Capital on its inaugural advisory mandate. We have worked hard to develop a structure and terms that will make it as efficient as possible to increase assets under management through the private markets using a limited partnership structure, whilst at the same time ensuring Fair Oaks Income Fund benefits from the terms it requires. The complex nature of this transaction leveraged the team’s wider expertise advising on establishing private funds, including debt funds, real estate funds and private equity funds as well as our knowledge of listings and equity capital markets.”
As part of the listing, Fair Oaks Income Fund will acquire collateralised loan obligations (CLOs) valued at an estimated $55 million to form its initial portfolio. The fund is proposing to raise $200 million through a placing and offer for subscription, followed by a potential secondary fund raise through a private fund structured as a limited partnership.
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