According to the new statistics, 130 JPFs had been established by 30 June this year, holding combined total assets under management of £19.4billion. This is split between infrastructure (48%), debt and credit funds, hedge funds (29%), and private equity and venture capital funds (16%).
The JPF was launched as a fund structuring options 2017. It offers institutional and private investors the ability to establish a fund for up to 50 investors in as little as 48 hours. New figures from the JFSC show that almost a quarter of established JPFs have fewer than 15 investors.
Jersey Finance CEO Geoff Cook said that the figures showed JPFs were “meeting the needs of a key segment of the alternative investor community who are looking for better co-investment solutions.”
Pictured: Geoff Cook, Jersey Finance CEO.
“Firms are reporting, for instance, that the vehicle is particularly popular amongst like-minded family offices who are looking to come together to tap into the burgeoning alternatives market,” he explained.
Mike Byrne (pictured), Chair of the Jersey Funds Association, added: “The JPF is essentially mirroring the general growth Jersey is seeing in the infrastructure, debt and credit fund asset classes, which across our funds spectrum grew by 50% over the past 12 months, whilst the JPF is also being well used for hedge, venture capital and private equity funds. Not only does this performance of the JPF reinforce that it offers a much-needed option for small numbers of professional and institutional investors, it also underlines Jersey’s reputation in the alternatives space.
“We fully expect the upward trajectory of the JPF to continue.”