Changes to the Jersey Private Funds Guide have clarified important points about co-investment arrangements and investor eligibility where investors' circumstances change.
The changes have been published by the Jersey Financial Services Commission, the Island's financial services regulator, and have taken effect immediately.
The key points from the update are:
- confirmation that a co-investment arrangement, when forming part of an incentivisation plan for a JPF's management team, isn't itself a JPF and isn’t counted as an investor for the purposes of the '50 or fewer' calculation, and
- confirmation that investor eligibility is determined at the time of admittance to a JPF, and can’t be lost as a result of a subsequent change of investor circumstances.
Bedell Cristin partner Richard Le Liard, who advises Jersey-law governed investment funds on structuring, launches and regulatory issues, said: "these are positive changes to the JPF regime, improving what is already a brilliant product and shows great work from the Jersey regulator."
You can learn more about the changes here: Updated Jersey Private Fund Guide published today — Jersey Financial Services Commission (jerseyfsc.org)
Location: Jersey
Related Service: Funds & Investment Structures
