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24 May 2017

We have assisted SoftBank with the world’s largest investment fund

The Vision Fund has held its first major close.

SoftBank Group Corporation (SoftBank) has selected the Aztec Group to administer its new Vision Fund, the world’s largest ever investment fund.

Our private equity specialist, Simon King, led the Aztec Group team, who managed the establishment of the Fund’s operational, governance and accounting framework. The Aztec Group will continue to provide ongoing administration services to support the Fund’s activities and investors.

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 recognized technology companies.

The Vision 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.

Aztec Group worked alongside Carey Olsen on the structuring of the fund. 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.

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, 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.”

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.”

Read the SoftBank Vision Fund official press statement here.

Photo left to right: Robert Milner, Jonathan Bullock, COO, SoftBank Group International and Simon King.


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