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Jersey Private Funds

The Jersey Private Fund (JPF) introduced in April 2017 has become highly popular.

Ideal for small groups of professional and other eligible investors, they offer welcome alternatives where fully regulated products would not be necessary or appropriate.

JTC offers comprehensive support and administration to those wishing to use Jersey Private Funds, utilising our significant experience of servicing an impressive range of fund structures in Jersey and 32 years of working with global private clients.

“The regulator has reported that more than 300 JPFs have been registered since April 2017, representing a phenomenal take-up and confirming Jersey’s perception that there was a gap in the
market for precisely this sort of product.”

What We Do

THE BASICS

With the ability to be open or closed ended funds, the JPF benefits from a streamlined, fast-track regulatory process which has proven very popular since launch. When it launched, the JPF essentially merged and replaced three other products:

  • Very Private Funds
  • Private Placement Funds
  • COBO Only Funds

A streamlined authorisation process applies at the Jersey Financial Services Commission (JFSC) on the basis that the JPF meets certain criteria. Each case requires formal guidance and appropriate advice to ensure that the proposal is in scope of the Jersey legislation and regulation.

THE ESSENTIALS

A Jersey Private Fund:

  • Is quick and easy to establish with a conditional 48-hour
    regulatory turnaround
  • Can be marketed to 50 or fewer professional or eligible investors
    (those with a minimum investment value of £250,000)
  • Can be established as a company, limited partnership, limited
    liability partnership, separate limited partnership, incorporated
    limited partnership, or unit trust
  • Can be open-ended or closed-ended
  • Is not required to appoint any Jersey-resident directors
  • Is not required to appoint an auditor
  • Must appoint a Jersey Designated Service Provider (DSP)
  • Has no requirement for an offering document
  • Must have JPF Annual Compliance Return signed and submitted
    by the DSP
  • Does not require personal questionnaires in relation to the JPF itself

JTC’s PRIVATE CLIENT SERVICES

Many of our global entrepreneurial families and family offices we work alongside would benefit from Jersey Private Funds.

Some primary uses for creating a JPF include:

  • Co-investment
  • For launching private equity, real estate and corporate finance
    vehicles
  • As a route to maintaining a sense of control and decision making
  • As an opportunity to provide arm’s length commerciality
    separate to the administration of the client’s personal structure
  • Enabling the setting of parameters to measure, reward and
    ensure higher standards of corporate governance
  • To provide a compliant framework for philanthropy and to source
    co-funding for sustainable investment projects

People

Neel Sahai
Group Director - Private Client Services Jersey
Sailesh Navsaria
Group Director - Private Client Services Jersey
Karen O’Hanlon
Senior Director - Private Client Services Jersey
Donna McCrorie
Director – Private Client Services Jersey

Offices

JTC is an international organisation with global reach and true cross border capability. Our Jersey private funds services are directly supported from the following offices:

Latest

Our resources and strengths

We value shared ownership

We operate around the principle that if our people have a stake in the business, they will do a better job for our clients.

We invest in people

Over 70% of our employees hold a relevant professional qualification or are working towards this through our dedicated JTC Academy.

We embrace technology

We operate a variety of best-in-class systems to deliver and maintain an impeccable standard of administration and use technology to innovate in both service delivery and efficiency.

We value relationships

We aim to work with clients who share our belief in the importance of building strong relationships over time.

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