Collas Crill has advised the award-winning Darwin group in relation to the launch of a unique bereavement services fund.
The Darwin Bereavement Services Fund is a new alternative investment proposition for UK local authority pension schemes which will seek to invest in UK crematoria and related bereavement services entities. This strategy reflects Darwin's overall goal of offering investment solutions that generate long-term absolute returns which both enhance capital and provide high levels of income.
Darwin was, among other accolades, named ‘Alternatives Manager of the Year’ at the 2015 LAPF Investment Awards and 'Alternative Investment Manager of the Year' at the 2015 European Pension Awards.
Darwin chairman, James Penney, commented: “Collas Crill worked very hard to help set up the new fund within a tight timeframe. Their commercial approach was particularly refreshing."
The fund represents a new opportunity for Darwin, building on the sustained success of the Darwin Leisure Property Fund which invests in caravan holiday parks in the UK and has grown to a net asset value of circa £373 million. Collas Crill has also won the mandate to advise Darwin Leisure Property Fund as Guernsey counsel moving forward.
The commercial team at Collas Crill was led by group partner Wayne Atkinson, assisted by senior associate Tristan Ozanne.
Wayne said: "For a highly regarded manager like Darwin to launch a new fund like this is a huge vote of confidence, not only in Collas Crill but also in the Guernsey investment fund sector and the economy as a whole.
"Collas Crill's funds team has a long track record of acting on the launch of funds with alternative strategies and open-ended funds; this latest fund launch reflects the value of that unique know-how to the funds marketplace. We are delighted to have the opportunity to continue to work with Darwin going forward."