Jersey Private Fund assets total nearly £20bn

Thursday 15 November 2018

Mid-year figures released by Jersey’s finance regulator show that the Jersey Private Fund structure is showing strong appeal, with total assets under management totalling £19.4billion

This is the first time that the Jersey Financial Services Commission has collated figures for JPFs since they were launched in early 2017.

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.”