Channel Eye
Channel Eye subscribe
  • Home
  • Business
    • Appointments
    • Data Protection
    • Digital & Technology
    • Environment
    • Features
    • Finance
    • Interviews & Profiles
    • Leadership
    • Legal & Professional Services
    • People
    • Property
    • Retail & Hospitality
    • Transport
    • Wellbeing
  • Lifestyle
    • Arts & Culture
    • Charity & Community
    • Food & Drink
    • Health
    • Home
    • Music
    • Leisure
    • Travel
  • Events
    • Events in Jersey
    • Events in Guernsey
    • Events in Alderney
    • Events in Isle of Man
    • Virtual events
    • All events
    • Past Events
  • Directory
  • Location
    • Jersey
    • Guernsey
    • Alderney
    • Isle of Man
  • Advertise
  • Subscribe
No Result
View All Result
Channel Eye
No Result
View All Result
Channel Eye subscribe
Home Business Finance

New Limited Liability Company introduction enhances Jersey proposition for US alternative fund managers

February 8, 2023
in Business, Finance, Jersey
New Limited Liability Company introduction enhances Jersey proposition for US alternative fund managers
Share on LinkedInTwitterFacebookEmail

 Jersey Finance has welcomed the introduction of new Limited Liability Company legislation, which is anticipated to significantly enhance the jurisdiction’s proposition as a leading jurisdiction supporting US alternative fund managers.

Officially approved by the Government of Jersey this week (7th February), the law, which enters into force on 14 February, expands Jersey’s existing comprehensive suite of private fund vehicles, adding a new structure that is intended to be familiar to US private equity, venture capital and other alternative fund professionals.

Benefitting from a simple registration process and flexible governance requirements, the Jersey Limited Liability Company (LLC), which will have separate legal personality and can be classed as a ‘body corporate’, is expected to offer a number of key opportunities, including being used for issuing securities, as a manager vehicle, and as a fund entity in conjunction with the hugely successful Jersey Private Fund (JPF) regime.

The structure also provides certainty for US managers looking to fundraise within the EU, with the Jersey LLC able to market into Europe, subject to the usual fund permissions from the Jersey Financial Services Commission (JFSC), under the Alternative Fund Managers Directive (AIFMD) third country private placement rules.

Elliot Refson (pictured) , Head of Funds, Jersey Finance, said: “Following a period of extensive consultation, the introduction of the Jersey LLC is a significant development for Jersey’s funds sector and bolsters our ability considerably to support US fund managers.

“The Jersey LLC has been deliberately and specifically developed to be a structure US managers and investors are familiar with, backed up by Jersey’s world-class ecosystem for cross-border alternative funds, our leading regulatory framework and our position as a non-EU European time-zone hub.

“Through the Jersey LLC, US fund managers will now be able to take advantage of seamless marketing into the EU via national private placement regimes, underlining our proposition as the ideal gateway into Europe.”

Philip Pirecki, Jersey Finance Lead in the Americas, added: “LLCs are hugely popular in the US private markets space, with advisers, managers, and investors very familiar with the structure. In that light, we see significant opportunity for the Jersey LLC to support their needs.

“Since opening our office in New York three years ago, we have seen our book of US business increase significantly. By adding the LLC structure to our proposition, we are expanding our solutions for the US market even further, as we look to meet the cross-border needs of US managers and sophisticated
investors.”

The introduction of the Jersey LLC follows a period of sustained growth for Jersey’s funds industry in relation to the US market, with funds business from US promoters more than doubling over the past five years.

Tags: FundsJersey Finance
ShareTweetShareSend
Sue Fitzgerald

Sue Fitzgerald

Related Posts

Katie Bodman
Appointments

Belasko prioritises learning and development with new appointment

February 24, 2023
Jersey Finance Rising stars finalists 2022
Finance

Finance firms encouraged to celebrate future industry leaders through 2023 annual Rising Stars Awards

February 10, 2023
Fund domicile selection importance highlighted in new report
Finance

Fund domicile selection importance highlighted in new report

February 7, 2023
Next Post
Savills Guernsey appoints new head of residential sales

Average property prices in Guernsey continue to rise

Channel Eye Sales
PPBF
Channel Eye subscribe

Subscribe to our newsletter

Get the latest, no-nonsense, essential news and information direct to your inbox.
  • Home
  • Business
  • Lifestyle
  • Events
  • Directory
  • Privacy Policy
  • Contact
  • Advertise
  • Subscribe

© 2023 Channel Eye Limited

No Result
View All Result
  • Home
  • Business
    • Appointments
    • Data Protection
    • Digital & Technology
    • Environment
    • Features
    • Finance
    • Interviews & Profiles
    • Leadership
    • Legal & Professional Services
    • People
    • Property
    • Retail & Hospitality
    • Transport
    • Wellbeing
  • Lifestyle
    • Arts & Culture
    • Charity & Community
      • Macmillan
    • Food & Drink
    • Health
    • Home
    • Music
    • Leisure
    • Travel
  • Events
    • Events in Jersey
    • Events in Guernsey
    • Events in Alderney
    • Events in Isle of Man
    • Virtual events
    • All Events
    • Past Events
  • Directory
  • Location
    • Jersey
    • Guernsey
    • Alderney
    • Isle of Man
  • Advertise
  • Subscribe
  • Contact

© 2023 Channel Eye Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.