A new survey of chief financial officers has revealed that
Guernsey is by far the preferred location for private equity fund
In the Private
Equity News/State Street CFO survey, more than three-fifths
(61%) of respondents said that Guernsey was their preferred
destination for private equity outsourcing.
Jersey was mentioned by 15% of respondents, another 15% chose
London while Luxembourg was the location of choice for 7.7% of
Peter Niven, Chief Executive of Guernsey Finance – the
promotional agency for the Island's finance industry, said:
"This is an extremely strong endorsement of Guernsey's
private equity fund administration offering. We have built a
reputation in this asset class during the last decade and this is
yet further evidence of the value placed on our experience and
expertise by key decision makers within some of the principal
players in the sector. This really does reinforce the message that
Guernsey is the leading European private equity fund administration
Private Equity News, in conjunction with sponsor State Street,
carried out this online questionnaire on the future of the private
equity industry during December last year. The questionnaire was
targeted at CFOs (or equivalent) from within the private equity and
venture capital industries.
Three-quarters of respondents were CFOs, with the remainder
holding the equivalent positions with responsibility for their
firm's finances. Respondents included representatives from a
variety of firms across the asset class: buyout; venture capital;
growth capital; distressed debt and special opportunities;
mezzanine; infrastructure; and private equity real estate. More
than half the respondents worked at firms with more than $1bn of
assets under management. Geographically, most respondents were
based in Europe bur responses were also received from North
America, the Middle East and Asia.
The results were released within the Private Equity News issue
published on Monday 28th February in parallel with the
start of the trade conference and exhibition SuperReturn International in Berlin where
Guernsey Finance was leading a delegation from the Island.
These figures come at a time when statistics from the Guernsey Financial Services Commission (GFSC)
show that the value of funds under management and administration in
Guernsey reached £257.4bn at the end of December 2010
– up 6% in the quarter and 40% year on year. The value of
private equity funds under management and administration in
Guernsey has also grown by around 50% year on year to reach more
than £65 billion at the end of December 2010. In addition,
data direct from the market authority shows that end of the last
year there were comfortably more Guernsey-incorporated companies
listed on the London Stock Exchange (LSE) than those from any
other competitor jurisdiction.
These trends are likely to be key debating points during the
Guernsey Funds Forum which takes place on Wednesday 11th
May 2011 at the Grange St. Pauls Hotel in London. It will be hosted
by ITV news anchor Alastair Stewart OBE and feature key industry
speakers including leading venture capitalist Jon Moulton.
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