A quick and user-friendly introduction to the new Jersey Private
Funds regime.
The News
The Jersey Financial Services Commission
("JFSC") has on 15 March 2017 announced
a new private funds guide ("JPF") with a
view to implementing the regime on 18 April 2017. The JPF will take
the key aspects of the hugely popular Jersey 'very private'
fund regime and expand their application so that a vastly increased
number of privately-placed funds can benefit from a proportionate
and fast-track regulatory process.
So what's changing?
Essentially, any Jersey private fund vehicle (or virtually any
non-Jersey private fund vehicle with a relevant connection to the
Island – eg a non-Jersey limited partnership with a Jersey
general partner) can now become a JPF Fund. A JPF Fund is granted a
quick and simple consent under the Control of Borrowing (Jersey)
Order ("COBO") which will enable it to
make up to fifty offers to investors who qualify as
'professional' investors (or
