Jersey Finance has welcomed a series of targeted enhancements to the Jersey Private Fund (JPF) regime, designed to meet the evolving needs of international professional investors and reaffirm Jersey's position as a cutting-edge alternative funds jurisdiction.
The updates were announced by the Government of Jersey this week (23 July) following a period of industry consultation. The revised JPF Guide published by the Jersey Financial Services Commission (the JFSC) will come into effect on 6 August 2025.
Overall, the updates are intended to align Jersey's offering with the expectations of global investors, managers and fund promoters, while maintaining robust oversight and regulatory standards. The key enhancements include:
- Removal of the 50 offer/investor cap: a JPF may now make an unlimited number of offers and have an unlimited number of investors, provided the offer is made to a "restricted group" of investors and that each investor is a "professional investor" under the JPF guide.
- 24-hour authorisation: a 24-hour turnaround has been introduced for JPF consents, provided the application is complete and all requirements are met, enhancing Jersey's speed-to-market advantage.
- Broader definition of professional investor: the new JPF Guide expands the definitions of a "professional investor" that are eligible to invest in a JPF.
- Listing may be permitted: a JPF can apply to the JFSC for consent to list its interests, subject to the JFSC's approval.
These enhancements build on the success of the JPF regime since its launch in 2017 to provide a streamlined and cost-effective route for professional investor funds. Since then, more than 750 JPFs have been launched.
Welcoming the changes, Joe Moynihan, CEO, Jersey Finance, said: "Since its launch in 2017, the JPF has become Jersey's fastest-growing fund category, particularly well-suited to private equity, venture capital and real asset strategies. As private capital continues to evolve globally, these updates will further increase Jersey's appeal to managers and professional investors seeking flexible fund solutions.
"Critically, the enhancements come after a period of industry consultation to offer a proportionate, risk-based regime that safeguards quality whilst also supporting innovation and responding to specific market needs for scalability, speed to market and optionality. Combined, these enhancements will ensure Jersey remains a preferred domicile for private funds and their managers worldwide."
Joel Hernandez, Chair of the Jersey Funds Association, added: "The JFA welcomes the Government and the JFSC's continued commitment to further refine and strengthen the Jersey Private Fund regime. The JPF regime remains a strong solution for the global market, offering efficient, streamlined, and proportionate regulation for private investment funds. Its improved flexibility, accessibility and simplicity to launch continue to enhance the regime's effectiveness."
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