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Deals

Maples Advises Citigroup First Investment Management Limited on the Launch of New Fund in Japan

01 Feb 2021

Maples and Calder, the Maples Group's law firm, is pleased to announce that its Japanese Funds practice recently advised Citigroup First Investment Management Limited ("CFIM") on the launch of Algebris Financial Hybrid Securities Fund ("the Fund"). The Fund which was launched on 29 January 2021 is authorised for public offering in Japan. Notably, the Fund enables Japanese investors to gain exposure to senior and subordinated debt securities of the financial credit sector globally through investing substantially all of its assets in Algebris Financial Credit Fund, a sub-fund of Algebris UCITS Funds Plc, an investment company incorporated in Ireland and managed by Algebris Investments (Ireland) Limited.

A team based in the Group's law firm in Hong Kong acted as Cayman Islands legal counsel to CFIM and was led by Funds & Investment Management Partner, Nick Harrold and assisted by Associate, Costa Valtas.

Commenting on the transaction, Nick Harrold said, "We are pleased to have advised CFIM on the launch of their latest publicly offered fund in Japan which marks over 13 years of collaboration between the Maples Group and CFIM in launching funds for public and private distribution."

"It was a pleasure to once again partner with the team at CFIM on the launch of their latest fund which reflects a broader trend in the market of Japanese investors increasingly seeking yield from global assets", added Costa Valtas.

The Maples Group's Japanese Funds practice is recognised as the market leader, advising and providing funds services to the industry's heavyweights, as well as new entrants to the market, on the structuring and establishment of Japanese Funds. 

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