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ARTICLE · 08 JULY 2024

Updates To The Jersey Private Fund Guide

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Co-investment vehicles can now be regarded as part of a JPF's carry/incentive arrangement and will not be counted as an investor for the purposes of the 50 or fewer investors test for JPF eligibility.

JerseyFinance and Banking
Simon Felton
Simon Felton
James Gaudin
James Gaudin
Iain Millar
Iain Millar
Andrew Weaver
Andrew Weaver
Paul Worsnop
Paul Worsnop
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With effect from 2 July 2004 the Jersey Financial Services Commission (JFSC) has implemented a number of amendments to the Jersey Private Fund (JPF) regime, which seek to improve and enhance the JPF regime and keep pace with developments in the market for private funds.

The JPF regime was introduced in 2017 and provides a fast track (48 hour) regulatory approval process for private funds with 50 or fewer investors.

CARRY/CO-INVESTMENT

Co-investment vehicles can now be regarded as part of a JPF's carry/incentive arrangement and will not be counted as an investor for the purposes of the 50 or fewer investors test for JPF eligibility.

INVESTOR ELIGIBILITY

The guide now clarifies that investor eligibility criteria are satisfied on admission and can continue to be relied on notwithstanding a subsequent change in status of an investor, for example a departing employee or partner.

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