Jersey Finance Funds Masterclass: Real Estate

Robert is one of Jersey’s leading funds lawyers. He acts for a wide range of boutique and institutional fund managers and has extensive experience in establishing private, expert, unregulated and listed Jersey funds. He has particular expertise in establishing fund manager vehicles and structures, including migrating fund managers to Jersey from other jurisdictions. Robert also advises on the establishment, financing and sale of Jersey vehicles holding UK and European-situate real estate (including JPUTs) and advises on the structuring and listing of REITs, having been a member of the TISE Rules Committee responsible for amending the listing rules to streamline the requirements for REITs. Recent transactions include the establishment of the

Mike is a partner based in PwC Channel Islands’ Jersey office and is the leader of the Asset Management practice across the Channel Islands. He is the PwC Alternative Funds leader for EMEA. Mike has worked with a wide portfolio of alternative asset management clients based in Europe and further afield across Private Equity, Infrastructure, Hedge and Property Funds. Mike undertook a cycle of experience from 2012 to 2014 as Head of Private Equity with PwC Singapore and served as Chair of the Jersey Funds Association from 2016 to 2019.

Rachel is General Counsel and Corporate Secretary of the Liberty Living Group – the student housing accommodation platform previously owned by the Canadian Pension Plan Investment Board and which was recently acquired (November 2019) by the Unite Group plc (the largest manager and developer of purpose-built student accommodation in the UK) for £1.4bio (Acquisition). Rachel joined Liberty Living in July 2017 and sits on the Executive Team. Rachel helped navigate the Liberty Living Group through the listing of Liberty Living Group Plc on TISE; the listing of debt on Euronext Dublin; and the successful merger clearance by the Competition and Markets Authority of the group in respect of the Acquisition.

Nicola is a tax partner in EY and has specialised in advising on tax matters in respect of real estate transactions for 25 years. Her clients include inbound investors, fund managers, landed estates and REITs and she provides advise at all points of the property ownership cycle; from transaction structuring and diligence, to compliance and management of the relationship with HMRC. Nicola was seconded to HMRC to draft the UK REIT legislation in 2005 and has since continued to be involved in liaising with HMRC over changes to the REIT regime as well as other major legislative changes relevant to real estate ownership, such as corporate interest restriction and non resident capital gains tax.

Kate has over 20 years' experience specialising in complex finance transactions including advising on the Jersey elements of private placements and high yield bond issuances. Kate has a significant real estate finance practice, acting for both sponsors and lenders and also advises on fund finance and financial restructurings. Kate joined Carey Olsen in 2013 and became a Jersey advocate in February 2016. She previously worked in London, first with a magic circle firm and subsequently with a large US firm. She also completed secondments at two investment banks.

Wayne is the policy and technical lead for HMRC’s Collective Investment Schemes team. He first joined the team in late 2008, working on a range of funds issues including the introduction of the reformed offshore funds rules and leading on reforms to the rules for investment trusts and unauthorised unit trusts. He re-joined the team in September 2015, after 18 months working on HMRC’s International Relations (IR) team helping to negotiate the UK’s implementation of the Common Reporting Standard with EU and OECD counterparts and to introduce the resultant legislation and guidance, and providing training to developing countries.