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Legal Briefing
Regulation of Jersey's private placement funds - a new regime
Practice Area: Regulation and Compliance
Sector: Investment Management
Jurisdiction: Channel Islands-Jersey
Published: 24 January 2012
Law Firm: Mourant Ozannes
Overview
From January 2012 a new streamlined regulatory authorisation process for the establishment of privately placed funds is available in Jersey. The new private placement fund regime aims to streamline the regulation of closed-ended funds established or managed in Jersey, providing a cost-effective and non-intrusive regulatory environment for funds making offers to 50 or fewer professional or sophisticated investors worldwide.
In addition, the PPF regime will benefit from a 72 hour response time from the JFSC, and will be of particular appeal to promoters of real estate, private equity, venture capital, mezzanine, and infrastructure funds, as well as other alternative asset classes employing a closed-ended model.
In this briefing, offshore specialists Mourant Ozannes provide a general overview of the new PPF regime, how it will be managed and administrated, permitted investors and promoter requirements.
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