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Maples Group Advises UBS on Launch of ‘Nuveen Churchill Private Capital Tokai Tokyo Access Fund’ in Japan

21 May 2024


Maples and Calder, the Maples Group's law firm, is pleased to announce that its Asia Funds & Investment Management practice has advised UBS Management (Cayman) Limited ("UBS") on the launch of Nuveen Churchill Private Capital Tokai Tokyo Access Fund (the "Fund"). The Fund, which launched on 21 May 2024, is structured as a Cayman Islands unit trust and is authorised for public offering in Japan. The Fund will be distributed in Japan by Tokai Tokyo Securities Co., Ltd.

The Fund's investment objective is to provide investors risk-adjusted returns primarily through current income and, secondarily, long-term capital appreciation, by indirectly investing in a diversified portfolio of private debt and equity investments in U.S. middle market companies. The Fund will seek to achieve its investment objective by investing in shares of Nuveen Churchill Private Capital Income Fund. The Fund's investment manager is Tokai Tokyo Asset Management Co., Ltd. 

A team of lawyers based in the firm's Singapore office acted as Cayman Islands counsel to UBS and was led by Funds & Investment Management Partner, Nick Harrold.

Commenting on the transaction, Nick Harrold said, "We are beginning to see significant demand from investors in Japan for products, similar to this Fund, which can provide exposure to private debt, as well as other alternative assets classes, and this is a trend which I expect will continue to grow".

Japanese legal advice was provided by Anderson Mori & Tomotsune.

The Maples Group's Japanese Funds practice advises and provides funds services to the industry's heavyweights, as well as new entrants to the market, on the structuring and establishment of Cayman Islands, Luxembourg, Irish and Jersey funds targeted at Japanese investors. 

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