Firm News

Specialist water fund advised by Mishcon de Reya

Release Date:

09 January 2007

Deal Completion Date: 03 January 2007

Mishcon de Reya advised Wessex Asset Management Limited on the establishment and listing on the Irish Stock Exchange of Wessex Global Water Fund, a hedge fund specialising in water-related investments worldwide.

Wessex Global Water Fund is based in the Cayman Islands and is the third hedge to be managed by Wessex Asset Management Limited.

Mishcon de Reya were the principal lawyers, responsible for co-ordinating the international team of legal and other advisors in Ireland, the Cayman Islands and the US.

Corporate Partner, Kevin McCarthy, Senior Corporate Assistant, Christopher Jones and Consultant, James Wilcox led the team with assistance from corporate assistants Shika Thakrar and Andrew Wolfin. Corporate Tax Principal, Vishvas Kanji advised on the UK tax aspects of the transaction.

The transaction is the latest in a series of listed funds and other IPOs on which Mishcon de Reya has advised.

Commenting on the transaction, Mishcon de Reya’s Kevin McCarthy said: “The synergies of the Mishcon de Reya Investment Funds Group and Private Equity Group are starting to really bear fruit and we hope to see this trend develop in 2007."

Notes:           

About Wessex Global Water Fund

Wessex Global Water Fund is one of the first funds investing equity long/short in water-related assets, and the first with a focus on Asia and builds on Wessex Asset Management’s expertise in Asian equity long/short. The fund follows on from the highly successful Wessex Natural Resources Fund and is the third fund to be established and managed by Wessex Asset Management Limited.  The key individuals behind Wessex Management are Tim Weir and Peter Chesterfield and the company is based in Bournemouth, UK.  They currently have total funds under management of in excess US$340 million.