THE UK’s largest data centre is being built by a new fund administered in Guernsey. The fund aims to raise through a number of share offers between £100m. and £200m. in equity by the end of 2009.

The PFB Data Centre Fund has been established as a Guernsey-registered closed-ended investment company and is domiciled and listed on the Channel Islands Stock Exchange.

The fund will focus on the specialist property sector and has entered into a joint venture with a German-based developer e-shelter to build a data centre facility on a 50-acre site in Buckinghamshire.

The development should rank as the second-largest such facility in Europe. The fund is managed by Pinder Fry & Benjamin in the UK and will be administered by International Administration Guernsey. International Administration Guernsey chief executive Alison Simpson (pictured) said it was delighted to be appointed, which has gained significant media coverage for investing in what is a specialist but potentially very rewarding market.