Article by Emily
Haithwaite
A new private placement fund regime has been introduced in
Jersey, with the issue of the Jersey Private Placement Fund Guide
by the Jersey Financial Services Commission (JFSC). The Guide,
which applies to closed-ended Private Placement Funds (PPFs), is
set to revolutionise the Jersey funds industry. it relaxes the
JFSC's traditional 'promoter test', against which the
JFSC vets new promoters of funds, making it much simpler for new
and existing promoters to establish funds in Jersey. it also offers
a streamlined 72-hour authorisation process for the approval of
funds which meet the PPF criteria.
PPFs can be offered to up to 50 potential investors anywhere in
the world. investors must be 'professional investors',
'sophisticated investors' or investment Managers acquiring
an interest in the PPF on behalf of non-professional or
non-sophisticated investors.
