Authored by Mark Vidamour, Head of Corporate and Fund Services - Guernsey at Suntera Global
The Guernsey Private Investment Fund (PIF) will be a decade old next year – but, thanks to a number of enhancements over recent years, the structure has moved with the times and continues to prove attractive to global managers.
Initially introduced as a simple, cost-effective and quick-to-market option within Guernsey’s well-established funds landscape, the PIF remains a compelling option for managers looking to target sophisticated investors with a light-touch regime.
Indeed, back in 2016, Suntera Guernsey (formerly Carey Commercial) launched one of the first PIFs when the product was initially introduced and the team has supported numerous clients with the set-up and associated administration requirements since.
In recent months, the structure has seen a strong increase in interest as managers, both in the US and elsewhere, have sought the certainty and reassurance of an expert fund domicile in Guernsey, as well as the flexibility and seamless set-up the PIF provides. The structure’s enduring appeal is a reflection of Guernsey’s reputation as a centre for cross-border fund structuring, with sensible, pragmatic regulation, and decades of experience in a time-zone that is well suited for supporting investment flows between the US and Europe.
Updates
The regime was updated in 2021 and again most recently in May 2025, with the latest changes streamlining and increasing the appeal of what was already a well-used structure, creating a light-touch regime that is ideally suited for open-ended or closed-ended funds targeting certain types of investors, for a wide spectrum of private capital investment strategies.
Specifically, the new rules simplify the PIF’s eligibility criteria – amalgamating what were formerly multiple eligibility routes into two types of PIF.
The ‘Qualifying Private Investment Fund’ (QPIF) is only open to ‘qualifying’ private investors who are able to meet a number of set criteria relating to factors such as risk and sophistication of investor type.
In addition, the separate ‘Family PIF’ provides wealthy families and individuals a separate, tailored route to market with the plus points of a collective investment scheme structure.
Among the added benefits of the PIF are:
Overall, the focus is on greater flexibility, whilst retaining the PIF’s status as a regulated product with an emphasis on strong corporate governance.
Appeal
It is testament to Guernsey’s forward-thinking approach that the industry, government and regulator have worked together to evolve the international finance centre’s offering to meet global manager needs.
And industry trends indicate that the Guernsey PIF will remain an attractive option in the years ahead - as managers look to diversify their investor base; as being quick-to-market becomes more and more important in a fast-moving sector; and as investors look for stable, cost-effective locations to give them reassurance and support to enable them to realise their cross-border investment ambitions.
With PIFs receiving approval from the Guernsey Financial Services Commission (GFSC) following a representation of suitability from an administrator, such as Suntera Global, it is important to get that expert support right from the start. The PIF is absolutely aligned with Suntera Global’s own mantra of ‘empowering responsible ambition’ – providing a top-end platform to enable investors to thrive, backed-up by Guernsey’s appeal as a premium funds jurisdiction.
Combined with Guernsey’s robust legal infrastructure, experienced service providers, and strong regulatory reputation, the PIF regime continues to form a critical strand of Guernsey’s funds ecosystem, underlining the island’s appeal as a go-to destination for a variety of fund managers.
If you would like to know more about the PIF or Guernsey for funds, get in touch with the Head of Corporate and Fund Services, Mark Vidamour.
Suntera Group Limited is regulated by the Guernsey Financial Services Commission.
About the Author
Mark Vidamour
HEAD OF CORPORATE & FUND SERVICES
