Walkers has acted as Jersey Counsel to Westbrooke Alternative Asset Management UK on the establishment and launch of two Jersey Private Funds.
With a presence in South Africa and the UK, Westbrooke Alternative Asset Management aims to create and preserve wealth on behalf of its clients, partners, managers and shareholders through investment in private equity, listed equity, property and credit.
The first fund, Westbrooke Yield Plus, invests in a diversified portfolio of private debt instruments with a focus on the UK, Europe and US, and plans to invest in other developed economies.
The other, Westbrooke Rhythm, invests into a diversified global portfolio of early-stage companies that demonstrate innovative and disruptive business models. The fund will primarily target equity investments in businesses with the potential for exponential organic growth through digitisation of incumbent models.
According to Walkers, speed of establishment, together with appropriate and proportionate regulation for the level of sophistication of the investor base, were instrumental in choosing Jersey and in particular the Jersey Private Fund regime as the domicile of the fund vehicles.
The Walkers team was led by Partner Jonathan Heaney, who was assisted by Senior Counsel Christopher Reed.