Anticipation

"It was great to be able to assist Tristan during this particularly difficult and turbulent time politically. It is a testament to their track record that they were able to overcome this with another highly successful fund raise."
DARREN STOLZENBERG 
Partner Funds CMS London

Brexit uncertainty continued  to complicate deal activity in the cross-border financial services sector last year. Fund formation work was particularly sensitive  to the ongoing political upheaval.

Tristan Capital Partners’ closedended pan-European opportunistic real estate fund, EPISO 5, was  a case in point. The company  chose to establish this fund in Luxembourg for the first time.

Tristan’s decision was largely  driven by Brexit and, as an English fund manager, it was required  to consider the practicalities  of marketing and managing the fund in the future.

The CMS London team led by Partner Darren Stolzenberg and Senior Associate Patrick Groves, has advised Tristan on nearly all of its fund establishments to date and the closing of this deal continued our long-standing relationship with them. The deal required close co-operation between our London and Luxembourg offices.

Tristan raised in excess of EUR 1.6bn of commitments from investors at final close which, together with finance, will give them more than EUR 6.0bn to invest across Europe. The majority of the investors are from the US, with the rest from Europe and Asia.

CMS London partner Darren Stolzenberg said, “It was great to be able to assist Tristan during this particularly difficult and turbulent time politically. It is a testament to their track record that they were able to overcome this with another highly successful fund raise. Thanks go to all of the people across CMS who played their part.”