International Administration GroupIAG

IAG appointed administrator to Octopus Healthcare evergreen fund

Monday, November 27, 2017

IAG is pleased to announce its appointment as trustee and administrator to Octopus Healthcare’s new evergreen healthcare fund.

IAG and law firm Carey Olsen’s investment funds team in Guernsey have advised Octopus Healthcare, part of the Octopus Group, on the initial fundraise of £82 million for its latest institutional fund, following conversion to a perpetual life vehicle in the form of a Guernsey Property Unit Trust (GPUT).

The move is a response to increasing investor appetite for healthcare real estate assets driven by stable, long-term RPI-linked income streams, and favourable pricing relative to other sectors.

The Fund was originally established as a closed-ended investment fund, and the change to an authorised open-ended Class Q collective investment scheme will enable Octopus Healthcare to provide investors with long-term exposure to the UK healthcare sector via an established platform.

IAG has worked with Octopus for over a decade and is appointed as both trustee and administrator to the GPUT. Mark Woodall, managing director of IAG in Guernsey, said: “We are particularly pleased with the assistance we received from Carey Olsen and the GFSC in creating this unique product, which illustrates how flexible and responsive the Guernsey funds sector can be.”

Carey Olsen partner Annette Alexander led the firm’s team advising on both transactions, with support from senior associate Ruth Abernethy. Ms Alexander said: “Octopus is a leading investor in the UK and Ireland healthcare sector, and it was a pleasure to assist their team on the Fund’s restructuring and highly successful first close.”

For more information or to discuss your specific requirements, please contact Mark Woodall at mwoodall@iag.co.gg or call us on +44 (0) 1481 723450.