Suntera Global heralds ‘new dawn’ for Jersey Private Fund regime

A number of enhancements to the Jersey Private Fund (JPF) regime, including the ability to have unlimited number of offers and investors and a rapid 24-hour authorisation period, will significantly bolster Jersey’s appeal amongst global investors, according to Suntera’s funds experts.

The updates, designed to meet the evolving needs of international professional investors, were announced by the Government of Jersey last week (23 July) and come into play on 6th August, when the Jersey Financial Services Commission (JFSC) will publish updated guidance. The changes follow a period of industry consultation.

Key changes include:

Removal of the 50 offer/investor cap: meaning that a JPF may now make an unlimited number of offers and have an unlimited number of professional or eligible investors
24-hour authorisation: a rapid turnaround, provided an application is complete and all requirements are met
Broader definition of professional investor: expanding the definition of a "professional investor" within the JPF Guide
Listing may be permitted: ability for a JPF to apply to the JFSC for consent to list

Commenting on the enhancements, Ian Horswell, Head of Business Development - EMEA and APAC, Suntera Global, said:

“These enhancements reflect Jersey’s commitment to remaining competitive in the private markets space. The fact that the Government, regulator and industry have all worked together to bring these changes in reflects an understanding of the importance amongst investors and managers of speed to market, flexibility and scalability. Combined, these enhancements can help ensure Jersey remains aligned on the one hand with the expectations of global investors, whilst also maintaining its high standards of oversight on the other.”

Since the JPF regime was launched in 2017, more than 750 have been launched, with the regime finding favour in particular in private equity, venture capital and real asset strategies.

Ryan Taylor, Head of Funds - Jersey, added:

“These changes reflect a commitment in Jersey to remain a progressive funds jurisdiction and represent a new dawn for the JPF regime, keeping Jersey competitive with other jurisdictions with similar products. We look forward to seeing the impact this has on jurisdictional choice for fund promoters in the coming months.”

Key Contacts

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Ian Horswell

Head of Business Development - EMEA & APAC

Ryan Taylor

Head of Funds - Jersey

Suntera Global heralds ‘new dawn’ for Jersey Private Fund regime

Key Contacts

Ian Horswell

Ryan Taylor

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