The latest developments within Guernsey's funds
industry show that the Island continues to be a leading
jurisdiction for private equity, according to Peter Niven,
Chief Executive of Guernsey Finance.
New figures show that in the second quarter of the year the
value of private equity funds in the Island grew by nearly
£1bn (2.5%) to reach £36.2bn. This is despite the
difficult market conditions that have seen amounts raised by
private equity funds across Europe fall by some 10% this
It has also been announced that the management of
Guernsey-based IPES – backed by private equity firm
RJD Partners – is buying out the provider of
dedicated private equity administration services for in excess
In addition, another Guernsey-based private equity
administrator, Augentius, has been celebrating 400% growth in
assets under administration since a management buyout two years
"These developments are yet further evidence that
Guernsey continues to be a leading jurisdiction for private
equity," said Mr Niven.
"Fund promoters and sponsors recognise that
Guernsey's experience in this asset class has helped
build a broad industry with specialist expertise and including
administrators providing bespoke IT solutions. They have also
been attracted by the introduction of Qualifying Investor Funds
(QIFs) – a self-certification regime targeting
experienced investors – and the launch of our
'fast track' registered funds regime.
"However, it could be argued that the listing of the
US$5bn Guernsey limited partnership KKR Private Equity
Investors LP on the Amsterdam Euronext was so innovative that
it has been the largest single contributor to the
Island's recent success in the asset class. It
highlighted that Guernsey was one of the few jurisdictions from
where funds wishing to list on Euronext do not need to obtain a
licence in the Netherlands because the Dutch AFM has ruled that
there is already adequate 'home' supervision.
It also put Guernsey on the map internationally and
particularly in the US, something from which the Island has
never looked back as it has become the jurisdiction of choice
for private equity."
This success is illustrated by the fact that Terra Firma and
Permira have recently both established their own operations in
Guernsey's on-going appeal and the future of the
private equity industry in general will come under the
microscope during a session 'Private Equity –
looking forward' chaired by Permira's Veronica
Eng at the Guernsey Funds Forum. It takes place at the Queen
Elizabeth II Conference Centre, Westminster, London, on Tuesday
That will be followed the next evening by a Guernsey Private
Equity Masterclass at the Caledonian Hilton Hotel, Princes
Street, Edinburgh. Keynote speaker Alastair Maclean, Partner at
Maclay Murray and Spens LLP, will be joined by a panel of
Guernsey industry experts who will explain more about private
equity in the Island.
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