Finance authorities in Jersey warmly accept reforms to the Jersey Private Fund (JPF) regulatory framework.
The Jersey Private Fund (JPF) regime is set for a significant overhaul, with key changes coming into effect on August 6, 2025. These enhancements aim to align Jersey's offerings with global investor expectations while maintaining robust regulatory standards.
One of the most notable changes is the removal of the 50 offer/investor cap for JPFs. This means that JPFs can now make unlimited offers and accept unlimited investors, provided all investors are professional or eligible investors and offers are made to a "restricted group" defined by direct communication to an identifiable investor category.
The updated regime also expands the categories of professional investors and eligible investors, enhancing accessibility for fund promoters. This expansion is expected to meet market demand for scale and flexibility.
Another significant change is the introduction of a 24-hour authorisation process for JPF consents, given a complete application and all requirements are met. This improvement is designed to speed up the fund launch process, enhancing operational efficiency.
JPF interests can now also be listed, subject to the Jersey Financial Services Commission's (JFSC) consent, adding liquidity options. This change provides more flexibility for fund managers.
The updates also offer more clarity and flexibility for fund structures and incentive arrangements. Consequential updates have been made to comply with the Money Laundering (Jersey) Order 2008 and JFSC’s Outsourcing Policy, ensuring regulatory consistency and enhanced compliance.
Industry leaders and regulators have emphasized that these changes maintain the JPF’s reputation as an effective, streamlined, and proportionate vehicle suitable for international private funds. These enhancements were designed to modernise the JPF regime to better align with the evolving needs of global professional investors and fund promoters.
Since 2017, more than 750 Jersey Private Funds have been launched, demonstrating the regime's strong appeal in the global market. The JPF is particularly well-suited for private equity, venture capital, and real asset strategies. The improved flexibility, accessibility, and simplicity to launch continue to enhance the regime's effectiveness.
Joel Hernandez, chair of the Jersey Funds Association, has welcomed the government and the JFSC's continued commitment to refine and strengthen the JPF regime. The improvements to the JPF regime are expected to ensure Jersey remains a preferred domicile for private funds and their managers worldwide.
Joe Moynihan, CEO of Jersey Finance, has commented on the updates, stating they will increase Jersey’s appeal to managers and professional investors seeking flexible fund solutions. The revised JPF Guide, published by the Jersey Financial Services Commission, will come into effect on August 6, 2025.
[1] Jersey Finance. (2023). Jersey Private Funds: Key Changes. Retrieved from https://www.jerseyfinance.je/news/jersey-private-funds-key-changes/
[2] Jersey Financial Services Commission. (2023). Money Laundering (Jersey) Order 2008. Retrieved from https://www.jfsc.je/media/1069/mljo-2008.pdf
[3] Jersey Financial Services Commission. (2023). Outsourcing Policy. Retrieved from https://www.jfsc.je/media/1109/outsourcing-policy.pdf
[4] Jersey Finance. (2023). Consultation on the Review of the Jersey Private Fund Regime. Retrieved from https://www.jerseyfinance.je/media/1110/consultation-on-the-review-of-the-jersey-private-fund-regime.pdf
- The removal of the 50 offer/investor cap for JPFs and the expansion of the categories of professional and eligible investors indicate an increased focus on investment funds, revolutionizing the finance industry by making it easier for fund promoters to attract global investors.
- The updated 24-hour authorization process for JPF consents, the ability to list JPF interests and the enhanced clarity on fund structures, all reflect a commitment to regulation, ensuring that the business environment remains robust and reliable, appealing to both prospective investors and fund managers.
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