Northern Trust and Carey Olsen Support Castelnau Group’s London Stock Exchange Debut

GUERNSEY–()–Northern Trust (Nasdaq: NTRS) and Carey Olsen 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 £178 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.

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

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.”

Ben Morgan, partner, Carey Olsen, 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’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.

About Carey Olsen

Carey Olsen is a leading offshore law firm advising financial institutions, corporations and private clients on the laws of Bermuda, the British Virgin Islands, Cayman Islands, Guernsey and Jersey from a network of nine international offices.

We provide legal services in relation to all aspects of corporate and finance, trusts and private wealth, investment funds, insolvency, restructuring and dispute resolution.

Our clients include global and local financial institutions, investment funds, private equity houses, multi-national corporations, public organisations, sovereign wealth funds, high net worth individuals, family offices, directors, trustees and private clients. We also work alongside all of the major onshore law firms, accountancy firms and insolvency practitioners.

We employ more than 500 people and our 60-plus partners head up a full complement of 260 lawyers.

For further information about Carey Olsen visit or email

Carey Olsen is an exclusive member of World Services Group (WSG), a leading global legal network of top ranked independent firms collaborating across 150+ jurisdictions.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2021, Northern Trust had assets under custody/administration of US$15.8 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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