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NORTHERN TRUST CORPORATION

(NTRS)
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Carey Olsen And Northern Trust Support Castelnau Group's London Stock Exchange Debut

11/24/2021 | 11:31pm EST

Carey Olsen and Northern Trust have supported Castelnau Group Limited on its initial public offering (IPO) on the London Stock Exchange (LSE).

The Guernsey-domiciled investment company, managed by Phoenix Asset Management, recently launched on the LSE following a Ł178 million (approximately US$245 million) IPO. Castelnau is focused on investing in both public and private companies with initial investments including firms providing digital analytics. 

The Carey Olsen team advising Phoenix Asset Management on all Guernsey legal and regulatory aspects of the IPO was led by partner Ben Morgan, with assistance from senior associate James Cooke and associate Kristina Mikhaylova. 

Ben said: "We are delighted to have supported Castelnau Group on its successful admission to the Specialist Fund Segment of the LSE. Our involvement demonstrates both Carey Olsen's extensive capital markets experience and the ongoing attractiveness of Guernsey as a jurisdiction for listed vehicles."

Northern Trust  is providing Castelnau Group Limited with a suite of asset servicing solutions, including fund administration, fund accounting, custody and depositary services.

Steve Tatters, chief operating officer, Phoenix Asset Management, said: "Northern Trust's experience supporting Guernsey-domiciled investment companies with LSE listings, combined with its breadth of asset servicing solutions, were among the reasons for this appointment. Northern Trust's team together with our Guernsey legal firm, Carey Olsen, worked closely with us to successfully support the IPO."

Dave Sauvarin, head of Northern Trust Channel Islands, said: "Guernsey continues to demonstrate its appeal as a jurisdiction supporting LSE listings with a depth of expertise in this area. Phoenix Asset Management's decision to use Northern Trust in Guernsey as the hub for Castelnau Group Limited's LSE listing is a testament to the depth of the island's experience and reputation."

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mr Ben Morgan
Carey Olsen
P.O. Box 98, Carey House
Les Banques
St Peter Port
GY1 4BZ
GUERNSEY
Tel: 1481727272
Fax: 1481711052
E-mail: charlotte.barnes@careyolsen.com
URL: www.careyolsen.com

© Mondaq Ltd, 2021 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

Stocks mentioned in the article
ChangeLast1st jan.
CASTELNAU GROUP LIMITED 0.00% 105.5 Delayed Quote.0.00%
NORTHERN TRUST CORPORATION -0.16% 115.22 Delayed Quote.-3.52%
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Financials (USD)
Sales 2021 6 479 M - -
Net income 2021 1 474 M - -
Net Debt 2021 10 985 M - -
P/E ratio 2021 16,4x
Yield 2021 2,45%
Capitalization 23 938 M 23 938 M -
EV / Sales 2021 5,39x
EV / Sales 2022 4,84x
Nbr of Employees 21 100
Free-Float 84,3%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 115,22 $
Average target price 134,18 $
Spread / Average Target 16,5%
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Managers and Directors
Michael G. O'Grady Chairman, President & Chief Executive Officer
Jason J. Tyler Chief Financial Officer & Executive Vice President
Thomas A. South Chief Information Officer & Executive VP
Robert P. Browne Chief Investment Officer & Executive VP
Susan M. Crown Independent Director
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