SQN Asset Management have launched a Guernsey registered fund which will target assets in agriculture, energy, environmental, manufacturing, material handling, medical, modular accommodation, technology and transportation sectors.
The SQN Asset Finance Income Fund, which listed on the main market of the London Stock Exchange, was oversubscribed and successfully raised £150 million to invest in equipment lease and asset finance arrangements in the UK and US, with a focus on business-essential assets with high in-place value and long economic life relative to the investment term.
Offshore law firm Mourant Ozannes advised on the legal aspects of the launch, while BNP Paribas Securities Services acted as administrator and custodian.