Guernsey claims world first regulated green fund

Posted: 19/10/2018

Guernsey has registered a Guernsey-domiciled agribusiness fund as the world’s first regulated green fund.

The Cibus Fund, launched last year, becomes the first fund to be awarded the Guernsey Green Fund regulatory kitemark by the Guernsey Financial Services Commission, following the launch of the Guernsey Green Fund rules in July.

The Cibus Fund is a private equity vehicle managed by London and Hong Kong-based private credit fund manager ADM Capital Europe. It was its first Guernsey fund, investing in mid-market opportunities for sustainable food processing and production in Europe and Australasia-based companies operating in the international high-value food supply chain.

ADM Capital has a track record of investing in the agribusiness sector, looking to generate more food from fewer inputs and reduce the negative impacts of agriculture on the environment. 

Vistra Fund Services in Guernsey is administrator to the fund, while offshore law firm Carey Olsen has advised ADM Capital on Guernsey activities. Carey Olsen Partner Ben Morgan led the team advising on the Guernsey Green Fund designation and was assisted by Senior Associate James Cooke.

As a specialist funds jurisdiction, Guernsey has led on the development of green funds through the development of its regulated Green Fund rules.

Any Guernsey fund where 75% of its assets by value meet specified international green criteria, including investment in areas such as renewable energy, agriculture, waste, waste water and transport, can apply for the designation, which assures investors their money contributes to initiatives that have positive environmental results.

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