Carey Olsen has been confirmed as legal advisor to the largest number of Jersey domiciled investment funds in 2022, with an increased market share.
Each year independent market research firm Monterey Insight conducts exhaustive analysis of the Jersey investment funds sector and service providers. The 28th edition of the Monterey Insight Jersey Fund Report 2022 shows Carey Olsen now advise 544 funds and sub-funds domiciled in Jersey, which represents over 36% of the market by total number of funds and over 41% of the market by asset value.
Of the 544 funds and sub-funds, 157 are Non-Permit Funds which are serviced and domiciled in Jersey (Jersey Private Funds), which constitute over 38% of all Jersey Private Funds.
Robert Milner, partner in Carey Olsen’s Jersey funds practice, said: “The annual Monterey publication provides valuable analysis and transparency into the competitive Jersey funds sector. We are pleased to once again be independently recognised as the leading law firm and the ‘go to’ funds team for Jersey domiciled investment funds. Our sustained year-on-year growth for over a decade now reflects the expertise, professionalism, and dedication to client service of our funds team, and importantly the high calibre of our new and established clients. It is rewarding to see the Jersey Private Fund regime continue to be so well adopted by a diverse and increasing number of global investment managers and investors as a fund vehicle of choice.”
According to the latest 28th Monterey Jersey Funds Report, over 212 domiciled and non-domiciled Jersey funds and sub-funds were launched during the 12-month period to 30 June 2022, which raised aggregate assets of US$ 49 billion. Of these newly launched serviced funds and sub-funds, over 110 were private equity/venture capital products which account for US$ 44 billion of the total. For the Jersey domiciled market, 168 new funds and sub-funds were launched/reported during the year, totalling over US$ 43 billion of assets. Overall, there has been a 58% increase in new business for Jersey fund industry for the period.”
Carey Olsen has the largest team of dedicated funds lawyers in the Channel Islands and are instructed by both nascent investment managers and the largest alternative investment firms worldwide, many of whom have structures based in Jersey. The firm advises on all types of private, public, retail and listed funds, including open and closed-ended funds, limited partnerships, unit trusts and companies. The team are ranked Tier 1 in all three of the leading legal directories – IFLR, Legal 500 and Chambers UK.