CHINA: ‘Yin and yang’ contracts identified as tax evasion
China’s top judicial authorities have identified so-called “yin and yang” contracts as a type of tax evasion in a newly released legal document. The designation has been highlighted
Press Release from Carey Olsen, Wednesday 18 September, 2024.
Carey Olsen’s investment funds team in Guernsey has advised European private equity firm Inflexion Private Equity Partners LLP (“Inflexion”) on the successful final close of Enterprise Fund VI (“the Fund”) at its hard cap of £975 million.
The Fund was raised primarily through increased commitments from existing investors in less than five months, who on average doubled their investments from the previous fund, Enterprise Fund V.
The Fund’s investor base includes a diverse group of U.S. pension funds, insurance companies, and sovereign wealth funds. The Fund will invest in both majority and minority stakes in European companies valued up to £150 million.
The Carey Olsen team advising Inflexion comprised partners Andrew Boyce and Rachel de la Haye and associates Oliver Orton and Nicola D’Amico.
Andrew Boyce commented: “It has been a pleasure to assist our long-standing client Inflexion on another successful fundraising. The diverse investor base in Fund VI demonstrates the strong confidence in Inflexion’s investment strategy, their ability to deliver attractive returns and underlines the continued importance of the use of Guernsey as a fund domicile. We are excited to see how this fund will contribute to the European market.”
China’s top judicial authorities have identified so-called “yin and yang” contracts as a type of tax evasion in a newly released legal document. The designation has been highlighted
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