Carey Olsen has once again been positioned as the fastest growing legal adviser to investment funds domiciled in Jersey, according to the latest Monterey Insight Fund Report.
The annual report provides a comprehensive analysis of the performance of funds in Jersey and offers an insight into the primary service providers, including their overall market share.
Carey Olsen advised a total of 296 Jersey-domiciled investment funds at 30 June 2017 (up from 274 on last year). Significantly, the firm is one of two Jersey law firms to increase the number of Jersey-domiciled funds it advises, with other Jersey legal advisers experiencing a decline in client numbers:
The firm's investment funds team has been involved in a string of high-profile mandates over the past twelve months, including advice to SoftBank Group Corporation on the launch of the cUS$100 billion SoftBank Vision Fund L.P., the world’s largest investment fund in Jersey. The record-breaking level of commitment was raised from some of the world's largest sovereign wealth funds and biggest and most recognized technology companies.
Lawyers from Carey Olsen also advised leading Nordic private equity firm FSN Capital Partners on its latest fund, FSN Capital V (which attracted total commitments of SEK 9.62 billion), and Global Advisors Holdings Limited on the ground-breaking launch of what is believed to be the world's first regulated, crypto-denominated fund – CoinShares Fund I.
James Mulholland, a partner in Carey Olsen's Jersey investment funds team, said: "2017 has been a standout year for our investment funds practice, and this is clearly reflected in these latest figures published by Monterey Insight and the transactions our clients have instructed us to advise on.
"Our sustained growth in market share is a positive reflection of our team's commitment to client service, and the calibre of advice we provide to fund promoters establishing investment funds in Jersey."
The publication of the report follows the release of the latest IFLR1000 and Legal 500 UK rankings, where Carey Olsen was awarded top tier status for Investment Funds advice in Jersey. Client feedback described the team as "strong and well-respected" with "great experience in the market".
When combined with findings from the Guernsey Monterey Insight report, Carey Olsen is also the leading adviser to funds domiciled and serviced across the Channel Islands. The firm advises over 1,200 funds across Guernsey and Jersey (20% more than its nearest competitor).