Aztec Group establishes Jersey Private Funds

Posted: 08/05/2017

Corporate services provider Aztec Group has established two Jersey Private Funds (JPFs).  

Introduced last month by the Jersey Financial Services Commission, JPFs have been designed to rationalise and consolidate Jersey’s private fund regimes for funds offered to up to 50 professional investors.  

Aztec worked with law firm Mourant Ozannes to establish the fund structures. The first, a private equity fund, requires a closed-ended limited partnership managed by its general partner company situated in Jersey. The second is a co-investment real estate fund investing in the UK private rented sector that also uses a Jersey limited partnership.

Aztec Group has also converted three existing Very Private Funds into JPFs since the regime came into effect and has a number of applications for further JPFs in progress.

Ben Robins, Partner at Mourant Ozannes commented: “The new JPF regime has been seized on 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 underlined their effectiveness." 

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