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The recent announcement that Jersey is the first jurisdiction in the world to successfully establish a regulator-approved Bitcoin investment fund is ground-breaking and reflects the jurisdiction’s ability to set the scene internationally with new investment opportunities, according to Carey Olsen partner James Mulholland.
Mr Mulholland, and Carey Olsen associate Rhona Atkinson, advised Global Advisors, a Jersey-based investment management company, on all the legal and regulatory aspects of the establishment of the Jersey-regulated open-ended Global Advisors Bitcoin Investment Fund (GABI). http://www.gov.je/News/2014/pages/CryptoCurrency.aspx
Mr Mulholland said: “The digital space is a relatively new focus for the investment sector, as are the structures that can be created to take advantage of the new digital world, so being involved in a Bitcoin world first is great for Jersey.
“What was particularly noteworthy here is that, despite this being a world-first in a new asset class, the JFSC, Digital Jersey, the States of Jersey, Global Advisors and Carey Olsen worked together to ensure all activity needed to establish this fund was done within a remarkably short period of time.
“This is a pioneering deal which demonstrates the expertise available in Jersey and within Carey Olsen to recognise the digital space and its potential for investors and work seamlessly in partnership with a number of parties to lead the world in new investment opportunities.
“Carey Olsen was ideally positioned to advise Global Advisors on the successful fund application given our strong track record of acting for clients investing and developing funds in innovative asset classes. We believe that family offices and institutional investors will be particularly attracted to this fund.”
GABI will launch on 1 August, 2014.
Issued by Sophie Morgan, Orchard PR, Sophie@orchardpr.com. 01481 240600
NOTES TO EDITORS:
About Carey Olsen
Carey Olsen is a market leading offshore law firm. We deliver exceptional services to our clients from the key offshore financial centres of the British Virgin Islands, Cayman Islands, Guernsey and Jersey. We also have an established presence in Cape Town and the City of London.
We are consistently the firm of choice for our clients and for advisers who refer work to our jurisdictions. Our firm offers a partner-led service. We employ 300 people and our 42 partners head up a total complement of 185 fee earners.
We provide legal services in relation to all areas of corporate and finance law, investment funds and dispute resolution as well as to private clients.
We work with an extensive range of clients including directors, global financial institutions, investment funds, private equity houses, corporations, trustees, governments and private individuals including entrepreneurs.
We also routinely work with leading legal advisers elsewhere on international transactions and cases involving our jurisdictions.
We have been awarded a number of industry accolades including Offshore Firm of the Year 2014 by the Lawyer Magazine.
For further information about Carey Olsen visit www.careyolsen.com or email info@careyolsen.com
