Better Outcomes on a Joint Venture

The Client

A large hedge fund looking to enter into joint venture agreement with a London-based developer, investor and asset manager.

The Challenge

Finding a solution to manage a complex joint venture involving a large mixed-use scheme in Central London.

Solution

The Corporate Services Team at PraxisIFM was approached by one of the senior team at the hedge fund. Following a series of discussions with the potential client we worked with them and their advisors to implement the most suitable solution.

PraxisIFM in Jersey established a holding company acting as a joint venture between the parties, which entered into a development agreement with a large independent charitable foundation in the healthcare sector.

Results

Over a 10 to 15-year period there will be seven development phases of a large mixed-use scheme in Central London. Each phase will be held by a specific subsidiary structure which will sit under the joint venture vehicle and include a Jersey Property Unit Trust and two Jersey companies with the asset being held by a UK LLP.

The team at PraxisIFM in Jersey provides the client with real estate management work supporting strategic decisions, has carried out tax compliance and VAT returns, as well as administration, director, co sec and accounting services. The Group’s London office provides director and registered office services to a number of the client entities.