Aztec behind first Jersey Private Funds

Monday 08 May 2017

Aztec Group has established two Jersey Private Funds – the first to be formed since the new regime came into play last month.

The first – a private equity fund – involved a closed-ended limited partnership managed by its Jersey-based partner company. The second was a co-investment real estate fund investing in the UK private rented sector, which also used a Jersey limited partnership.

Simon King, director and private equity specialist at the Aztec Group, said that he was, “…delighted to have established the first new Jersey Private Funds”.

He continued: “The new regime is a very welcome development as it will essentially streamline the historic private suite of fund products into a single, more effective, solution for clients where they can benefit from a flexible, efficient and swift regulatory application process. In this very competitive industry, it is imperative that Jersey remains a jurisdiction of choice for international fund managers and continued innovations in Jersey’s fund product offering like this are key to attracting business to the Island.”

Ben Robins, Partner at law firm Mourant Ozannes who assisted Aztec, added:

"In a buoyant fund raising market, the new JPF regime has quickly been seized on by existing and new clients alike as an effective, streamlined and proportionate product for privately offered alternative investment funds. The speed and ease with which these new launches were achieved – all within 48 hours of applying to the Commission - has really underlined their effectiveness."