Market Moves: JPF Enhancements - One Year On

One year after Jersey introduced significant enhancements to its Jersey Private Fund (JPF) regime, the market is already demonstrating the value of those changes.

In the latest Market Moves video, Peggy Gielen, Senior Legal and Technical Manager at Jersey Finance, is joined by Matt McManus, Partner at Ogier, and Arindam Madhuryya, Partner at Carey Olsen, to reflect on how the enhancements have strengthened Jersey's position as a leading jurisdiction for private capital. Together, they discuss how the reforms have been received by fund managers, the role collaboration has played in their success and where they see the greatest opportunities for future growth.

Watch the discussion

Watch the latest Market Moves video below to hear directly from the panel as they reflect on the first year of the enhanced Jersey Private Fund regime and what it means for the future of private capital.

The conversation explores:

• Why the Jersey Private Fund enhancements mattered
• How clients are benefiting from greater flexibility
• The importance of collaboration between Jersey’s Government, the Jersey Financial Services Commission and our industry
• Emerging trends shaping the private funds market
• Why Jersey remains well positioned for future growth

A year of positive momentum

Since launching in August 2025, the enhancements have helped strengthen an already successful product, making the Jersey Private Fund more flexible, more accessible and even better aligned with the evolving needs of international fund managers.

As discussed in the video, the reforms were never intended to be a one-off milestone. Instead, they formed part of Jersey's wider competitiveness agenda, demonstrating how our Government, the Jersey Financial Services Commission, Jersey Finance and our industry can work together to respond quickly to changing market demands.

This collaborative approach continues to be one of Jersey's defining strengths, ensuring that our jurisdiction can evolve alongside an increasingly competitive global funds market.

A stronger proposition for fund managers

One year on, the market's response is providing encouraging signs that the enhancements are delivering tangible benefits.

During the discussion, the panel reflected on how Jersey has seen close to a 40% increase in Jersey Private Funds between August 2025 and mid-2026, compared with the same period the previous year. While a range of factors contribute to market growth, practitioners are seeing increasing confidence from managers choosing Jersey for new fund structures.

The panel also explored how several of the enhancements are making a practical difference, including:

• The removal of the lifetime 50-offer limit, providing greater flexibility for open-ended and evergreen fund structures
• Expanded professional investor definitions, making the regime more accessible to a wider international investor base
• Greater flexibility to accommodate evolving investment strategies and fund structures

These developments are helping to ensure that the JPF continues to meet the needs of today's fund managers, while remaining simple and proportionate.

Supporting international investment

Another key theme that was explored in the discussion is the flexibility of the Jersey Private Fund regime.

As Matt and Arindam explain in the video, a Jersey Private Fund is not restricted to Jersey-domiciled vehicles. Managers can also utilise certain non-Jersey fund vehicles where there is an appropriate Jersey connection, providing additional flexibility for increasingly international investment structures.

The conversation also examined Jersey's continued access to European investors through National Private Placement Regimes (NPPRs), alongside the benefits of a well-regarded regulator and a proportionate regulatory framework that remains attractive to international managers.

Looking ahead

While the first year has demonstrated the positive impact of the enhancements, the discussion also looks to the future.

The panel shared insights into emerging opportunities across private credit, venture capital, first-time fund managers and technology-focussed investment strategies, highlighting how Jersey's mature professional services ecosystem continues to support innovation across the private capital landscape.

Perhaps most importantly, the discussion reinforces that competitiveness is an ongoing process. The willingness of Jersey’s Government, the regulator and our industry to continue working together ensures that Jersey is perfectly placed to respond to future market developments and to maintain its position as a leading international finance centre.

Watch the full Market Moves discussion: Watch now

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